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Central Petroleum Limited ( (AU:CTP) ) has shared an announcement.
Central Petroleum Limited has achieved several significant milestones, including the successful conclusion of an Expression of Interest process resulting in a major multi-year gas sales agreement. The company has also drilled and commissioned two new production wells at Mereenie, which were completed ahead of schedule, under budget, and exceeded initial production rate targets. Additionally, Central Petroleum has restructured its debt, extending it with full amortization by 2030, thereby eliminating refinancing risk. The company has shown improved financial performance and announced its maiden shareholder return through a share buy-back program.
More about Central Petroleum Limited
Central Petroleum Limited is an energy company primarily engaged in the exploration and production of oil and gas. It focuses on developing and operating assets in the Northern Territory and Queensland, Australia.
Average Trading Volume: 589,561
Technical Sentiment Signal: Buy
Current Market Cap: A$43.66M
For an in-depth examination of CTP stock, go to TipRanks’ Overview page.