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An announcement from Cue Energy Resources Limited ( (AU:CUE) ) 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, leading to the decision to re-market the gas supply to other customers in the NT and east coast. This move highlights Central’s commitment to providing reliable long-term gas supplies, backed by proven reserves, which are crucial for customers developing major capital projects. The lapse of the agreement underscores the challenges in securing final investment decisions but also presents an opportunity for Central to strengthen its market position by addressing the urgent demand for firm gas supplies in the region.
More about Cue Energy Resources Limited
Central Petroleum Limited is an established 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, including helium and naturally occurring hydrogen, with plans across 169,112 km² of tenements in the NT, featuring some of Australia’s largest known onshore conventional gas prospects in the Amadeus Basin.
YTD Price Performance: 8.89%
Average Trading Volume: 416,133
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$68.51M
For detailed information about CUE stock, go to TipRanks’ Stock Analysis page.