Central Petroleum Extends Deadline for NT Gas Sales Agreements

Horizon Oil Limited ( (AU:HZN) ) has shared an announcement.

Central Petroleum Limited and its Mereenie and Palm Valley joint venture partners have agreed with the Northern Territory’s Power and Water Corporation to extend the deadline for executing binding gas sales agreements from 24 March 2026 to 1 April 2026. The short extension suggests negotiations are progressing but not yet finalised, with the outcome likely to influence Central’s contracted gas volumes, revenue visibility and its role in supplying gas to the Northern Territory power market.

The revised timeline maintains momentum on a potential long-term offtake arrangement that would underpin production from Central’s onshore NT assets. For stakeholders, the extension provides a clear near-term decision point while signalling that commercial terms are still being resolved, which may have implications for future investment, operational planning and regional energy security.

The most recent analyst rating on (AU:HZN) stock is a Buy with a A$0.30 price target. To see the full list of analyst forecasts on Horizon Oil Limited stock, see the AU:HZN Stock Forecast page.

More about Horizon Oil Limited

Central Petroleum Limited is an ASX-listed Australian oil and gas producer and the largest onshore gas operator in the Northern Territory. The company supplies gas to customers across central and northern Australia and holds a portfolio of exploration, appraisal and development projects in the Amadeus, Cooper and onshore Otway basins, positioning it as a key player in regional energy supply.

Average Trading Volume: 2,476,831

Technical Sentiment Signal: Buy

Current Market Cap: A$423.2M

Learn more about HZN stock on TipRanks’ Stock Analysis page.