Central Petroleum Advances Mereenie Gas Production with Successful Drilling

Central Petroleum Limited ( (AU:CTP) ) just unveiled an update.

Central Petroleum Ltd has successfully completed the drilling of the West Mereenie-29 development well, with plans to tie it into the Mereenie Production Station soon. Additionally, the West Mereenie-30 well has been spudded as part of the Mereenie Joint Venture’s efforts to enhance production capacity. The development aims to increase production above 30TJ/d and is expected to supply gas to the Northern Territory and East Coast markets, ensuring reliable energy supply for years.

More about Central Petroleum Limited

Echelon Resources Limited is an Australasia-focused energy commodity exploration and production company, headquartered in Wellington, New Zealand. The company is involved in both onshore and offshore oil and gas assets across Australia, New Zealand, and Indonesia, either directly or through its stake in Cue Energy Resources Limited. Echelon is committed to ethical development and exploration activities, emphasizing strong ESG standards and quality relationships.

YTD Price Performance: 8.00%

Average Trading Volume: 546,475

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$40.24M

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