Central Petroleum Extends Deadline to Finalise NT Gas Sales Agreements

An update from Central Petroleum Limited ( (AU:CTP) ) is now available.

Central Petroleum and its joint venture partners at the Mereenie and Palm Valley gas fields have secured an extension from Northern Territory utility Power and Water Corporation to finalise binding gas sales agreements. The deadline to execute these long-term supply contracts has been pushed back from 20 February to 2 March 2026, giving the parties additional time to convert their letter of intent into definitive arrangements.

The short extension preserves momentum on prospective long-term gas supply from Mereenie and Palm Valley, which underpin Central’s position as a major onshore gas supplier in the Northern Territory. Finalisation of these agreements would support continued regional energy supply and revenue visibility for Central and its partners, while the revised timetable signals ongoing but still incomplete commercial negotiations.

The most recent analyst rating on (AU:CTP) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Central Petroleum Limited stock, see the AU:CTP Stock Forecast page.

More about Central Petroleum Limited

Central Petroleum Limited is an ASX-listed Australian oil and gas producer and the largest onshore gas operator in the Northern Territory, supplying gas to customers across central and northern Australia. The company also pursues exploration, appraisal and development projects in the Amadeus, Cooper and onshore Otway basins, targeting growth in some of the country’s key hydrocarbon regions.

Average Trading Volume: 740,055

Technical Sentiment Signal: Buy

Current Market Cap: A$57.21M

See more data about CTP stock on TipRanks’ Stock Analysis page.