Echelon Wins Extra Time to Seal NT Gas Supply Deals

The latest update is out from Central Petroleum Limited ( (AU:CTP) ).

Echelon Resources and its joint venture partners in the Mereenie and Palm Valley gas fields have agreed with the Northern Territory’s Power and Water Corporation to extend the deadline for executing binding gas supply agreements from 1 April to 10 April 2026. The extension buys additional time to finalise contracts that are key to monetising Echelon’s interests in these Australian assets, where it holds substantial stakes alongside Central Petroleum, Cue Energy and Horizon Australia Energy, with potential implications for regional gas supply and future drilling plans.

The Mereenie permits OL4/OL5 are operated by Central Petroleum Mereenie Pty Ltd with Echelon Mereenie holding 42.5%, while the Palm Valley permit OL3 is operated by Central Petroleum with Echelon Palm Valley holding 35%. Securing these gas supply agreements would support Echelon’s broader strategy of leveraging its Australasian oil and gas portfolio and joint venture relationships to unlock growth and validate the prospectivity of its assets.

The most recent analyst rating on (AU:CTP) stock is a Buy with a A$0.11 price target. To see the full list of analyst forecasts on Central Petroleum Limited stock, see the AU:CTP Stock Forecast page.

More about Central Petroleum Limited

Echelon Resources Limited, trading as Echelon (ASX:ECH), is an Australasia-focused energy commodity exploration and production company headquartered in Wellington, New Zealand. Its portfolio spans wholly and partly owned onshore and offshore oil and gas assets in Australia, New Zealand and Indonesia, including indirect holdings via its roughly 50% stake in Cue Energy Resources, and it emphasises ethical, ESG-aligned development with experienced sector partners.

Average Trading Volume: 1,164,967

Technical Sentiment Signal: Buy

Current Market Cap: A$70.01M

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