Central Petroleum Limited (AU:CTP) has released an update.
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Central Petroleum Limited has commenced drilling the WM29 well, the first in a two-well program aimed at boosting production capacity at the Mereenie field. The company expects the new wells to deliver significant gas output, potentially enhancing cash flow by selling additional gas through existing agreements. This development aligns with Central’s strategic focus on expanding its role as a key energy supplier in the Australian market.
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