Cue Energy Resources Limited (AU:CUE) has released an update.
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Horizon Oil Limited has announced the successful conclusion of a long-term strategic gas sales agreement with the Northern Territory Government, ensuring the supply of gas from the Mereenie joint venture until the end of 2030. The deal includes provisions for take-or-pay arrangements and contingent offtake to support additional drilling, significantly reducing dependency on the Northern Gas Pipeline. This agreement, combined with an amended supply agreement with Arafura Rare Earths Limited, is expected to bolster Horizon’s project cashflows and underpin the domestic gas supply in the region.
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