Central Petroleum Limited is an Australia-based company engaged in exploration for hydrocarbons. It is a junior exploration and production company operating prospective onshore acreage in Australia totaling over 270,000 kilometers, c.70 million acres. Its operating portfolio includes prospective acreage in Central Australia, including the Pedirka and Amadeus Basins. The Pedirka Basin has number of prospects, such as the Avalon and Blamore Prospects. The Amadeus Basin is a proven hydrocarbon province, with the Mereenie (oil and gas) and the Palm Valley (gas) fields. As of June 30, 2012, the Company identified four prospects considered for drilling in the Amadeus Basin. In June 2013, Central Petroleum Ltd disposed its coal assets. In February 2014, the Company purchased Magellan Petroleum�s onshore assets in Palm Valley and Dingo fields, Amadeus Basin. In March 2014, the Company completed the purchases of Magellan Petroleum�s onshore assets in Palm Valley and Dingo fields, Amadeus Basin.