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Central Petroleum Limited ( (AU:CTP) ) just unveiled an announcement.
Horizon Oil and its Mereenie Joint Venture partners have agreed with the Northern Territory’s Power and Water Corporation to extend the deadline to finalise a binding gas sales agreement from 24 March 2026 to 1 April 2026. The short extension suggests negotiations over future Mereenie gas supply are advancing but not yet complete, leaving stakeholders watching for a near-term resolution that could influence regional energy security and Horizon’s contracted sales profile.
The revised timeline underscores the strategic importance of locking in long-term gas offtake for the Northern Territory’s power system and for the Mereenie partners’ production planning. While the delay is modest, the outcome of the talks will be significant for Horizon’s revenue visibility from Mereenie and for the stability of gas supplies to the territory’s utility sector.
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
Horizon Oil Limited is an ASX-listed oil and gas company active in upstream exploration and production. The company participates in the Mereenie Joint Venture in Australia’s Northern Territory, supplying gas that underpins regional power generation and utility needs.
Average Trading Volume: 1,117,989
Technical Sentiment Signal: Buy
Current Market Cap: A$67.75M
Learn more about CTP stock on TipRanks’ Stock Analysis page.