Central Petroleum Signs LOI to Accelerate Drilling and Secure Long-Term Gas Supply in the Northern Territory
Central Petroleum Limited (ASX: CTP) has entered into a binding Letter of Intent (LOI) with the Northern Territory’s Power and Water Corporation (PWC) alongside its joint venture partners to fast-track a four-well drilling program across the Mereenie and Palm Valley gas fields. The agreement supports the immediate commencement of early works, with drilling targeted for mid-2026.
The LOI also outlines conditional term sheets for long-term gas supply arrangements that could see up to 25.5 petajoules of uncontracted firm gas (Central share) supplied through to 2034 at market pricing. Preparations for the drilling program are already well advanced, with approvals in place or underway. The proposed arrangements are designed to enhance gas supply security for the Northern Territory while leveraging existing production capacity at both fields.
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 Signs LOI to Accelerate Drilling and Secure Long-Term Gas Supply in the Northern Territory
Central Petroleum Limited (ASX: CTP) has entered into a binding Letter of Intent (LOI) with the Northern Territory’s Power and Water Corporation (PWC) alongside its joint venture partners to fast-track a four-well drilling program across the Mereenie and Palm Valley gas fields. The agreement supports the immediate commencement of early works, with drilling targeted for mid-2026.
The LOI also outlines conditional term sheets for long-term gas supply arrangements that could see up to 25.5 petajoules of uncontracted firm gas (Central share) supplied through to 2034 at market pricing. Preparations for the drilling program are already well advanced, with approvals in place or underway. The proposed arrangements are designed to enhance gas supply security for the Northern Territory while leveraging existing production capacity at both fields.
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