Central Petroleum to Re-Market Gas Supply After Arafura Agreement Lapses

An update from Horizon Oil Limited ( (AU:HZN) ) is now available.

Central Petroleum Limited announced that its gas supply agreement for Arafura’s Nolan’s rare earth project has lapsed due to unmet conditions, prompting the company and its Mereenie joint venture partners to re-market the gas for sale starting in 2028. This decision underscores the critical need for reliable long-term gas supplies in the NT and east coast markets, highlighting Central Petroleum’s position as a key player in providing firm gas backed by proven reserves, which is crucial for funding and developing major capital projects.

More about Horizon Oil Limited

Central Petroleum Limited is an ASX-listed Australian oil and gas producer with exploration and appraisal permits in the Northern Territory (NT). It is the largest onshore gas operator in the NT, supplying residential and industrial customers in the NT and the broader Australian east coast market. The company aims to become a major domestic energy supplier, with interests in helium and naturally occurring hydrogen, and operates across 169,112 km² of tenements, including significant onshore conventional gas prospects in the Amadeus Basin.

YTD Price Performance: 30.0%

Average Trading Volume: 27,335

Technical Sentiment Signal: Sell

Current Market Cap: $205.8M

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