Central Petroleum Limited Secures Long-Term Gas Agreement to Accelerate Palm Valley Expansion
Central Petroleum Limited (ASX: CTP) has entered into a binding multi-year Gas Sales Agreement with the Northern Territory Government, underpinning the development of two new wells at the Palm Valley gas field. The agreement covers supply of up to 21 PJ of gas through to 2034, providing revenue visibility and supporting a Final Investment Decision to fast-track drilling activities.
The new wells are expected to lift the company’s gas production capacity by approximately 40%, with drilling scheduled to commence in mid-2026 and production anticipated in the second half of the year. In parallel, the company has expanded its loan facility by up to AU$15 million to support development and maintain liquidity, with expected utilisation between AU$8 million and AU$10 million. The agreement replaces earlier arrangements and positions Central to capitalise on favourable market dynamics while strengthening its role as a key onshore gas supplier in Australia.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Central Petroleum Limited Secures Long-Term Gas Agreement to Accelerate Palm Valley Expansion
Central Petroleum Limited (ASX: CTP) has entered into a binding multi-year Gas Sales Agreement with the Northern Territory Government, underpinning the development of two new wells at the Palm Valley gas field. The agreement covers supply of up to 21 PJ of gas through to 2034, providing revenue visibility and supporting a Final Investment Decision to fast-track drilling activities.
The new wells are expected to lift the company’s gas production capacity by approximately 40%, with drilling scheduled to commence in mid-2026 and production anticipated in the second half of the year. In parallel, the company has expanded its loan facility by up to AU$15 million to support development and maintain liquidity, with expected utilisation between AU$8 million and AU$10 million. The agreement replaces earlier arrangements and positions Central to capitalise on favourable market dynamics while strengthening its role as a key onshore gas supplier in Australia.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au