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Central Petroleum Limited ( (AU:CTP) ) has issued an update.
Central Petroleum Limited, as the operator of the Mereenie gas field in Australia, has successfully completed the WM29 well and initiated drilling of the WM30 well. These developments are expected to enhance field production capacity above 30 terajoules per day, potentially expanding sales under a new Northern Territory Government Gas Sales Agreement. Cue Energy Resources holds a 7.5% interest in the Mereenie Joint Venture, partnering with Echelon Mereenie, Horizon Australia Energy, and Central Petroleum Mereenie.
More about Central Petroleum Limited
Cue Energy Resources Limited is an Australian Securities Exchange (ASX:CUE) listed company specializing in oil and gas production and exploration. The company operates primarily in Indonesia and Australia, with additional operations offshore New Zealand, generating a revenue of $49.7 million in FY2024.
YTD Price Performance: 8.00%
Average Trading Volume: 546,475
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$40.24M
Find detailed analytics on CTP stock on TipRanks’ Stock Analysis page.
