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Central Petroleum Limited (ASX:CTP)

ALERT: Price-sensitive ASX Announcement for CTP
Current share price for CTP : $0.064 0.003 (4.92%)+
Announcement
Release
15 Dec 2025 10:02AM
Price at Release
$0.061
Full Release
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Summary
Horizon Oil Limited and its Mereenie Joint Venture partners have signed a binding Letter of Intent with the Northern Territory's Power and Water Corporation to initiate early works for an accelerated drilling program of two new wells at the Mereenie field. This program aims to start drilling by mid-2026 and involves documenting long-term gas supply agreements to be formalized by 20 February 2026. The project will support gas supply until 2034 and is designed to rapidly deliver new gas volumes, enhancing energy security in the Northern Territory. Horizon Oil holds a 25% interest in the Mereenie field, and the initiative underscores a significant effort to boost gas supply from the Amadeus Basin.
Key Points
  • Binding Letter of Intent signed with Power and Water Corporation.
  • Accelerated drilling program for two new wells at Mereenie field.
  • Drilling targeted to commence by mid-2026.
  • Long-term gas supply agreements to be formalized by February 2026.
  • Gas supply support from Mereenie field through 2034.
  • Project aims to enhance energy security in the Northern Territory.
  • Horizon Oil holds a 25% interest in the Mereenie field.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.