Central Petroleum Limited (AU:CTP) has released an update.
Central Petroleum Limited reported mixed results for the third quarter of FY2024, with sales revenue reaching $8.2 million despite a 1% drop from the previous quarter, mitigated by higher gas prices. The company sold gas at full capacity into the Northern Territory since late April and anticipates continued strong demand and higher pricing for the remainder of the year. Sales volumes fell by 13% due to the suspension of the Northern Gas Pipeline, but the outlook is positive with East coast gas re-contracted in the NT and new higher-priced term contracts in place.
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