Central Petroleum Boosts Financial Health and Growth

Central Petroleum Limited (AU:CTP) has released an update.

Central Petroleum Limited reported a strong financial performance for FY24, highlighted by a $13.8 million profit from the sale of Range and a significant reduction in debt and liabilities. The company has implemented cost-cutting measures, improved its cash position, and executed a transformative gas sales agreement with the Northern Territory government. Additionally, Central Petroleum is funding new wells and has maintained a strong safety record, positioning itself well for future growth.

For further insights into AU:CTP stock, check out TipRanks’ Stock Analysis page.