Central Petroleum Initiates Mereenie Field Development

Horizon Oil Limited (AU:HZN) has released an update.

Central Petroleum Limited has commenced drilling its first development well in the Mereenie field, aiming to boost production capacity above 30 terajoules per day. The initiative is part of a two-well program expected to produce at least 25 petajoules of gas over their lifespan, potentially enhancing cash flow through expanded gas sales agreements.

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