Tenement Information
Tenement |
| Location | Operator | CTP Interest | Other JV Participants | |
Participant | Beneficial | |||||
PEL 677 | 546 | Cooper Basin (SA) | ADZ Energy | 49% | Cordillo Energy Pty Ltd | 51% |
PRLs 50,51,52,53, 54,55,56,57, 58,59,61,63, 65,66,67,68, 69,70,71,72, 74,75,124 and 248 | 1,457 | Cooper Basin (SA) | ADZ Energy | 49% | Cordillo Energy Pty Ltd | 51% |
JV History
In early 2026, Central acquired a 49% interest in PEL677 and 24 PRLs from ADZ Energy’s subsidiary Cordillo Energy Pty Ltd, with ADZ Energy remaining as operator.
Description and Geology
The Cooper Basin is a mature and well-established petroleum province with numerous historic and recent discoveries. The Cooper permits, comprising 24 Retention Leases (PRLs) and exploration permit PEL 677, covers a large portion of the basin and is relatively underexplored, with the PRLs only recently coming out of suspension in 2025. The acreage sits around, and is proximal to, multiple existing conventional discoveries, both gas and oil fields.
Significantly, much of the acreage has good seismic coverage via a combination of prior 2D and 3D surveys.
Exploration opportunities
To date, 17 prospects and leads have been identified, with at least seven prospects considered drill-ready (potentially only requiring seismic reprocessing to mature). The initial focus will be on the higher value oil and gas targets, with plans to select two to three priority exploration targets to drill by early 2027.
Importantly, discoveries in the Cooper Basin can quickly be brought online via a network of existing gas pipelines accessing the high value east coast gas market, and existing oil pipelines and trucking corridors to established refineries and port facilities.
