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Cue Energy Resources Limited ( (AU:CUE) ) has issued an update.
Central Petroleum Limited and its joint venture partners have signed a binding Letter of Intent with the Northern Territory’s Power and Water Corporation to commence an accelerated drilling program and finalize long-term gas supply agreements. The initiative aims to enhance gas supply security in the region by targeting the delivery of additional gas supply, equivalent to over 20% of the Northern Territory’s total gas demand, by mid-2026. The agreements are expected to provide Central with a reliable income stream and support the region’s energy needs.
The most recent analyst rating on (AU:CUE) stock is a Hold with a A$0.12 price target. To see the full list of analyst forecasts on Cue Energy Resources Limited stock, see the AU:CUE Stock Forecast page.
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. It is the largest onshore gas operator in the NT, supplying residential and industrial customers in the NT and the wider Australian east coast market. The company aims to become a major domestic energy supplier, focusing on helium and naturally occurring hydrogen, with extensive exploration and development plans across the Amadeus Basin.
Average Trading Volume: 193,257
Technical Sentiment Signal: Buy
Current Market Cap: A$76.98M
For a thorough assessment of CUE stock, go to TipRanks’ Stock Analysis page.