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Cue Energy Resources Limited (ASX:CUE)

ALERT: Price-sensitive ASX Announcement for CUE
Current share price for CUE : $0.105 -0.005 (-4.55%)+
Announcement
Release
15 Dec 2025 9:53AM
Price at Release
$0.110
Full Release
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Summary
Central Petroleum Limited (ASX: CTP) and its Mereenie and Palm Valley Joint Venture partners have signed a binding Letter of Intent with the Northern Territory's Power and Water Corporation to initiate a four-well drilling program and formalize long-term gas supply agreements. The gas supply aims to produce up to 25.5 PJ from the Mereenie and Palm Valley fields through the end of 2034. The LOI includes provisions for early drilling works, with drilling anticipated to commence by mid-2026. The agreements are intended to bolster gas supply in the Northern Territory and provide a reliable income stream for Central Petroleum.
Key Points
  • LOI signed with Northern Territory's Power and Water Corporation.
  • Four-well drilling program targeting Mereenie and Palm Valley fields.
  • Up to 25.5 PJ of gas production planned through 2034.
  • Drilling to start by mid-2026.
  • Includes provisions for early drilling works.
  • Aims to boost gas supply and provide a reliable income stream.
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.