Letter of Intent Advances Drilling Activity and Secures Pathway for Long-Term Gas Supply
Cue Energy Resources Limited (ASX: CUE), together with its partners in the Mereenie and Palm Valley Joint Ventures, has signed a binding Letter of Intent with the Northern Territory’s Power and Water Corporation to advance a four-well drilling program and progress long-term gas supply arrangements. The LOI enables the immediate commencement of early works, including procurement of long-lead items, civil preparations and rig selection, ahead of a targeted mid-2026 drilling start comprising two wells each at Mereenie and Palm Valley.
It also outlines conditional, non-binding terms for firm gas supply from existing production and new volumes from the planned drilling program, with binding Gas Sales Agreements targeted for execution by early 2026, subject to approvals. Importantly, the LOI includes cost protection for the Joint Ventures, with provision for reimbursement of early works expenditure should agreements not be finalised by February 2026. The arrangement supports near-term production growth and underpins long-term supply security for the Northern Territory energy market.
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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Letter of Intent Advances Drilling Activity and Secures Pathway for Long-Term Gas Supply
Cue Energy Resources Limited (ASX: CUE), together with its partners in the Mereenie and Palm Valley Joint Ventures, has signed a binding Letter of Intent with the Northern Territory’s Power and Water Corporation to advance a four-well drilling program and progress long-term gas supply arrangements. The LOI enables the immediate commencement of early works, including procurement of long-lead items, civil preparations and rig selection, ahead of a targeted mid-2026 drilling start comprising two wells each at Mereenie and Palm Valley.
It also outlines conditional, non-binding terms for firm gas supply from existing production and new volumes from the planned drilling program, with binding Gas Sales Agreements targeted for execution by early 2026, subject to approvals. Importantly, the LOI includes cost protection for the Joint Ventures, with provision for reimbursement of early works expenditure should agreements not be finalised by February 2026. The arrangement supports near-term production growth and underpins long-term supply security for the Northern Territory energy market.
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