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Cue Energy Resources Limited ( (AU:CUE) ) just unveiled an update.
Central Petroleum Limited announced that its new West Mereenie 29 (WM29) well has commenced production, significantly exceeding pre-drill expectations with a rate of 7 TJ/d, twice the anticipated 3 TJ/d. This development not only enhances the company’s production capacity but also strengthens its market position by addressing the Northern Territory’s current gas supply needs and reinforcing the reliability of onshore production from the Amadeus Basin.
More about Cue Energy Resources Limited
Central Petroleum Limited is an ASX-listed Australian oil and gas producer with significant exploration and appraisal permits in the Northern Territory. As the largest onshore gas operator in the NT, Central supplies both residential and industrial customers across the region and the broader Australian east coast market. The company is expanding its focus to become a major domestic energy supplier, including helium and naturally occurring hydrogen, with extensive development plans across 169,112 km² of tenements.
YTD Price Performance: 2.08%
Average Trading Volume: 247,420
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$68.47M
For detailed information about CUE stock, go to TipRanks’ Stock Analysis page.
