Central Petroleum Limited ( (AU:CTP) ) has shared an announcement.
Central Petroleum Limited reported a 7% increase in Underlying EBITDAX to $8.6 million for the half year ending December 2024, with a statutory net profit after tax of $1.5 million. The company secured new long-term gas sales agreements with the Northern Territory Government, increasing cash flow reliability and lifting average portfolio prices. Additionally, the restructuring of its loan facility and successful drilling at Mereenie have enhanced production capacity, positioning the company for a stronger second half of FY2025.
More about Central Petroleum Limited
Central Petroleum Limited is an established ASX-listed Australian oil and gas producer with exploration and appraisal permits in the Northern Territory. It is the largest onshore gas operator in the NT, supplying residential and industrial customers in the NT and the wider Australian east coast market. The company aims to become a major domestic energy supplier, with plans for exploration, appraisal, and development across a vast area, including some of Australia’s largest known onshore conventional gas prospects.
YTD Price Performance: 20.75%
Average Trading Volume: 574,827
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$47.7M
Learn more about CTP stock on TipRanks’ Stock Analysis page.