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Central Petroleum Limited ( (AU:CTP) ) just unveiled an update.
Horizon Oil and its Mereenie Joint Venture partners have reached an agreement with the Northern Territory’s Power and Water Corporation to extend the deadline for finalising a binding gas sales agreement. The execution date has been moved from 2 March 2026 to 24 March 2026, giving the parties additional time to conclude commercial terms that are expected to underpin ongoing gas supply arrangements and provide greater clarity for stakeholders reliant on Mereenie gas.
The extension suggests that negotiations are progressing but require further work before being locked into a binding contract. For Horizon and its partners, securing this agreement is likely to be important for revenue visibility and field planning, while for the Power and Water Corporation it would support continuity of gas supply for power generation in the Northern Territory.
The most recent analyst rating on (AU:CTP) stock is a Hold with a A$0.08 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
Horizon Oil Limited is an Australia-based oil and gas company listed on the ASX that is involved in exploration and production activities. The company participates in joint ventures such as the Mereenie project, supplying gas to regional customers including utilities in the Northern Territory energy market.
Average Trading Volume: 785,618
Technical Sentiment Signal: Hold
Current Market Cap: A$54.95M
See more insights into CTP stock on TipRanks’ Stock Analysis page.