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Central Petroleum Limited ( (AU:CTP) ) just unveiled an announcement.
Central Petroleum Ltd has completed the drilling of the West Mereenie 30 well in the Mereenie Joint Venture, with gas sales expected to commence soon. This marks the end of a successful two-well drilling campaign that has been completed on time and under budget. The Mereenie field’s production capacity is expected to exceed 30TJ/d, supporting a long-term Gas Sales Agreement with the Northern Territory Government. Andrew Jefferies, Chief Executive of Central Petroleum, praised the campaign as a potential game changer for Mereenie, highlighting the collaborative effort of the Joint Venture and the drilling contractor Ventia.
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 committed to ethical and values-based development and exploration activities, holding a portfolio of onshore and offshore oil and gas assets in Australia, New Zealand, and Indonesia. These assets are held directly or through its stake in ASX-listed Cue Energy Resources Limited.
YTD Price Performance: 28.00%
Average Trading Volume: 642,054
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$47.7M
For a thorough assessment of CTP stock, go to TipRanks’ Stock Analysis page.
