Central Petroleum to Re-market Gas Supply After Lapsed Agreement

New Zealand Oil & Gas Limited ( (AU:ECH) ) just unveiled an update.

Central Petroleum Limited announced that the gas supply agreement for Arafura’s Nolan’s rare earth project has lapsed due to unmet conditions. Consequently, Central and its Mereenie joint venture partners will re-market the gas supply to other customers in the NT and east coast markets. This decision underscores Central’s commitment to providing reliable long-term gas supplies, which are crucial for major capital projects, and highlights its strategic positioning in the NT and broader east coast gas markets.

More about New Zealand Oil & Gas Limited

Central Petroleum Limited is an established 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 wider Australian east coast market. The company aims to become a major domestic energy supplier, including helium and naturally occurring hydrogen, with extensive exploration, appraisal, and development plans across its tenements in the NT.

YTD Price Performance: 450.0%

Technical Sentiment Signal: Sell

Current Market Cap: $55.31M

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