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Cue Energy Resources Limited (ASX:CUE)

ALERT: Price-sensitive ASX Announcement for CUE
Current share price for CUE : $0.115 0.005 (4.55%)+
Announcement
Release
15 Dec 2025 9:35AM
Price at Release
$0.110
Full Release
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Summary
Echelon Resources Limited has signed a non-binding, conditional term sheet with the Northern Territory’s Power and Water Corporation for the sale of gas from the Mereenie and Palm Valley fields through to the end of 2034. This agreement involves the firm supply of up to 19.1 PJ and plans to drill four new wells, adding up to 13.3 PJ of additional supply. The drilling is expected to significantly boost gas output from the Amadeus Basin, addressing supply constraints in the Northern Territory. Participants in the Mereenie and Palm Valley permits include Central Petroleum, Echelon, Cue Energy Resources Limited, and Horizon Australia Energy.
Key Points
  • Echelon signs non-binding term sheet with Northern Territory's PWC.
  • Agreement is for gas sale from Mereenie and Palm Valley fields till 2034.
  • Firm supply of 19.1 PJ, with additional 13.3 PJ from new wells.
  • Four new wells to be drilled: two at Mereenie and two at Palm Valley.
  • Enhanced gas output to address Northern Territory's supply constraints.
  • Participants include Central Petroleum, Echelon, Cue Energy Resources, and Horizon Australia Energy.
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.