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Cue Energy Resources Limited ( (AU:CUE) ) has shared an announcement.
Central Petroleum Limited has successfully completed the drilling and completion of its second Mereenie production well, WM30, with the well anticipated to perform in line with expectations. The drilling program, which was accelerated and came in under budget, aims to increase production within a tight gas market, thereby enhancing the value extracted from Central’s operating assets. The first well, WM29, has already exceeded production expectations, indicating a successful program that positions Central favorably in the market.
More about Cue Energy Resources Limited
Central Petroleum Limited is an ASX-listed Australian oil and gas producer, with exploration and appraisal permits in the Northern Territory (NT). It has grown to be the largest onshore gas operator in the NT, supplying both 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 in the NT, including the Amadeus Basin.
YTD Price Performance: 10.0%
Average Trading Volume: 330,314
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$76.85M
See more data about CUE stock on TipRanks’ Stock Analysis page.
