Production with development upside through three producing blocks in the Northern Territory’s Amadeus basin.

In mid-2021, New Zealand Oil & Gas announced an agreement to purchase three Amadeus basin assets: Merengie, Dingo and Palm Valley. Palm Valley and Dingo are currently 100% owned by Central Petroleum. Mereenie is currently 50% owned by Central Petroleum Group and 50% owned by Macquarie.


Mereenie oil and gas field (OL4 & OL5)

Interests post-acquisition*

New Zealand Oil & Gas 17.5%,
Cue 7.5%,**
Central Petroleum 25% (Operator)
Macquarie 50%

Producing since 1984. The field has 71 wells in total, 36 currently producing and 2 re-injecting gas.

The field produced around16PJ of gas in calendar year 2019 and has a capacity of 54 TJ/d of gas with associated condensate sales.

The field offers appraisal of the Stairway Formation, which is estimated to hold in excess of 100PJ of gross contingent resource.***


Palm Valley gas field (OL3)

Interests post-acquisition*

New Zealand Oil & Gas 35%
Cue 15%,**
Central Petroleum 50% (Operator)

Gas field producing since 1983. Current capacity of up to 15TJ per day with remaining exploration and development prospectivity.


Dingo gas fields (L7)

Interests post-acquisition*

New Zealand Oil & Gas 35%
Cue 15%,**
Central Petroleum 50% (Operator)

Producing since 2015 at a current rate of around 3 TJ per day, with capacity of 5.5TJ/d, a pipeline to a nearby (Alice Springs) power station and further development and exploration potential.

*On 24 June 2021, New Zealand Oil & Gas shareholders voted to approve the transaction.

The acquisition remains subject to certain other conditions, expected to be satisfied in August. At completion, the effective economic date of the transaction is 1 July 2020.

** New Zealand Oil & Gas has a 50.04% interest in Cue Energy Resources. Cue’s full interest is stated.

*** See Resources and Reserves statements.New Zealand Oil & Gas also has an interest in exploration blocks offshore from Western Australia.

A deepwater exploration well was drilled in the Ironbark permit in the summer of 2020-21.

After the unsuccessful result of that well, remaining permits offshore WA are under review:


20% Cue Energy*
80% BP Developments Australia Pty Ltd (Operator)

100% Cue Energy* (Operator)

389 p


Meerenie map2


palmvalley map

Palm Valley

dingo map2


409 p