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Central Petroleum Limited (ASX:CTP)

ALERT: Price-sensitive ASX Announcement for CTP
Current share price for CTP : $0.065 -0.024 (-26.97%)+
Announcement
Release
13 Apr 2026 9:56AM
Price at Release
$0.089
Full Release
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Summary
Cue Energy Resources Limited has signed a multi-year Gas Sales Agreement with the Northern Territory Government, involving the supply of up to 3.2 PJ of gas through to 2034. This agreement, which includes take-or-pay provisions and pricing indexed to inflation, supports the drilling of two new wells in the Palm Valley field. The Palm Valley Joint Venture, consisting of Central Petroleum (NT) Pty Ltd as the operator, Echelon Palm Valley Pty Ltd, and Cue Palm Valley Pty Ltd, will provide the gas. The agreement replaces a previous Letter of Intent with the Northern Territory’s Power and Water Corporation. The first drilling is set to begin mid-year, with production expected in the second half of 2026. This development is expected to add long-term cash flow and support Cue's revenue growth.
Key Points
  • Multi-year Gas Supply Agreement signed with Northern Territory Government
  • Up to 3.2 PJ of gas contracted through 2034 under take-or-pay provisions
  • Final Investment Decision made to drill two new wells in Palm Valley
  • Gas pricing fixed with CPI escalation
  • Agreement replaces previous Letter of Intent with Power and Water Corporation
  • Drilling of first well to commence mid-2026 with production expected in 2H 2026
  • Participants include Central Petroleum (NT) Pty Ltd, Echelon Palm Valley Pty Ltd, and Cue Palm Valley Pty Ltd
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.