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An announcement from Central Petroleum Limited ( (AU:CTP) ) is now available.
Central Petroleum Limited has announced several key achievements over the past 12 months, including the commencement of a major multi-year gas sales agreement in the Northern Territory, completion of two new production wells at Mereenie ahead of schedule and under budget, and a significant improvement in financial performance. The company has also achieved a 96% 2P reserves replacement and implemented a share buy-back program, although it has not yet been utilized. These developments are aimed at strengthening the company’s market position and unlocking shareholder value, particularly through asset spinoffs related to sub-salt exploration permits.
More about Central Petroleum Limited
Central Petroleum Limited operates in the energy sector, focusing on the exploration and production of oil and gas. The company is primarily engaged in activities within the Northern Territory gas market, aiming to address the tightening gas supply through strategic projects and partnerships.
Average Trading Volume: 326,733
Technical Sentiment Signal: Sell
Current Market Cap: A$46.67M
Find detailed analytics on CTP stock on TipRanks’ Stock Analysis page.