Central Petroleum Limited ( (AU:CTP) ) has provided an update.
Echelon Resources Limited announced that its conditional Gas Sales Agreement with Arafura Rare Earths has lapsed due to unmet conditions related to Arafura’s final investment decision. As a result, Echelon, along with its Mereenie Joint Venture partners, has decided to re-market the gas, maintaining a positive relationship with Arafura and expressing continued support for the Nolans Project. This decision reflects Echelon’s focus on production and development certainty and may impact its operational strategy and market positioning.
More about Central Petroleum Limited
Echelon Resources Limited is an energy commodity exploration and production company focused on the Australasia region, with headquarters in Wellington, New Zealand. The company is involved in both onshore and offshore oil and gas assets across Australia, New Zealand, and Indonesia, either directly or through its stake in Cue Energy Resources Limited. Echelon is committed to ethical development and exploration activities, maintaining strong ESG standards, and is actively seeking opportunities to expand its asset portfolio.
YTD Price Performance: 32.00%
Average Trading Volume: 650,726
Technical Sentiment Signal: Hold
Current Market Cap: A$49.19M
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