Central Petroleum Limited (AU:CTP) has released an update.
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Central Petroleum Ltd has commenced drilling at the Mereenie Field in the Amadeus Basin, targeting increased gas production to meet market demand. The drilling of two wells, West Mereenie-29 and West Mereenie-30, is expected to be completed by early 2025, aiming to tap into significant undeveloped gas reserves. This development could enhance the company’s capacity to supply the Northern Territory market, potentially impacting stock valuations for Central Petroleum and its joint venture partners.
For further insights into AU:CTP stock, check out TipRanks’ Stock Analysis page.
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