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An announcement from Central Petroleum Limited ( (AU:CTP) ) is now available.
Horizon Oil Limited and its Mereenie Joint Venture partners have signed a Letter of Intent with the Northern Territory’s Power and Water Corporation to accelerate the drilling of two new wells and establish long-term gas supply agreements. This initiative aims to boost gas production from the Mereenie field by mid-2026, ensuring a stable supply through 2034, thereby enhancing energy security in the region.
The most recent analyst rating on (AU:CTP) stock is a Hold with a A$0.06 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 operates in the oil and gas industry, focusing on exploration and production activities. The company holds a 25% interest in the Mereenie gas field, collaborating with other joint venture participants to enhance gas supply in the Northern Territory.
Average Trading Volume: 408,391
Technical Sentiment Signal: Sell
Current Market Cap: A$45.92M
See more insights into CTP stock on TipRanks’ Stock Analysis page.