Central Petroleum Boosts Revenue with New Gas Agreements

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

Central Petroleum Limited has secured new long-term gas supply agreements that promise higher and more stable cash flows by eliminating risks from Northern Gas Pipeline interruptions. The company reported a 6.7% increase in sales revenue for the September quarter, driven by a 6% rise in sales volumes due to a tighter gas market in the Northern Territory. Additionally, Central has improved its net cash position and restructured its loan facility with Macquarie Bank, ensuring financial stability until 2029.

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