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Central Petroleum Limited ( (AU:CTP) ) has provided an announcement.
Central Petroleum Limited has completed the drilling of the Mereenie development well WM29 and initiated the drilling of WM30, ahead of schedule to address gas shortages in the Northern Territory. These wells are expected to boost production capacity above 30 TJ/d, with the potential to generate further cash flow by expanding sales into existing contracts, signaling a positive impact on Central Petroleum’s operational capacity and market positioning.
More about Central Petroleum Limited
Central Petroleum Limited is an ASX-listed Australian oil and gas company operating primarily in the Northern Territory. As the largest onshore gas operator in the NT, it supplies residential and industrial customers in the NT and the wider Australian east coast market. The company also explores and develops helium and naturally occurring hydrogen, with significant tenements in the Amadeus Basin.
YTD Price Performance: 8.00%
Average Trading Volume: 546,475
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$40.24M
See more insights into CTP stock on TipRanks’ Stock Analysis page.
