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Cue Energy Resources Limited ( (AU:CUE) ) has provided an update.
Echelon Resources Limited has announced a non-binding agreement with the Northern Territory’s Power and Water Corporation to supply gas from the Mereenie and Palm Valley fields until 2034. This agreement, which includes the drilling of four new development wells, is expected to significantly boost gas output from the Amadeus Basin, addressing supply constraints and enhancing power system reliability in the Northern Territory. The initiative is seen as a strategic move to strengthen Echelon’s position in the energy market, benefiting shareholders, employees, and local stakeholders.
The most recent analyst rating on (AU:CUE) stock is a Hold with a A$0.12 price target. To see the full list of analyst forecasts on Cue Energy Resources Limited stock, see the AU:CUE Stock Forecast page.
More about Cue Energy Resources Limited
Echelon Resources Limited, trading as Echelon (ASX:ECH), is an Australasia-focused energy commodity exploration and production company headquartered in Wellington, New Zealand. The company is committed to ethical and values-based development and exploration activities, maintaining strong ESG standards. Echelon’s portfolio includes onshore and offshore oil and gas assets in Australia, New Zealand, and Indonesia, held directly or through its stake in ASX-listed Cue Energy Resources Limited.
Average Trading Volume: 193,257
Technical Sentiment Signal: Buy
Current Market Cap: A$76.98M
Find detailed analytics on CUE stock on TipRanks’ Stock Analysis page.