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An update from Central Petroleum Limited ( (AU:CTP) ) is now available.
Central Petroleum Limited announced that the gas supply agreement for Arafura’s Nolan’s rare earth project has lapsed due to unmet conditions, prompting the company and its Mereenie joint venture partners to re-market the gas for sale to other customers in the NT and east coast. This decision underscores Central’s commitment to providing reliable long-term gas supplies, crucial for funding and developing major capital projects, thereby enhancing its positioning in the NT and broader east coast gas markets.
More about Central Petroleum Limited
Central Petroleum Limited is an established ASX-listed Australian oil and gas producer with exploration and appraisal permits in the Northern Territory. It is the largest onshore gas operator in the NT, supplying residential and industrial customers in the NT and the wider Australian east coast market. The company aims to become a major domestic energy supplier, including helium and naturally occurring hydrogen, with extensive exploration and development plans across significant tenements in the NT, including the Amadeus Basin.
YTD Price Performance: 32.00%
Average Trading Volume: 650,726
Technical Sentiment Signal: Hold
Current Market Cap: A$49.19M
For a thorough assessment of CTP stock, go to TipRanks’ Stock Analysis page.