Australia's Central Petroleum hits 2-month high on project drilling update

Central Petroleum

16/01/2025 05:02

** Shares of Central Petroleum Ltd  CTP.AX  rise 1.8% to
A$0.057, their highest levels since Nov 7, 2024
    ** The oil and gas explorer completes drilling of first of
two wells at its Mereenie development wells in Northern
Territory
    ** Says completion is earlier than expected in response to
gas shortages in the Northern Territory
    ** Says the second well was also spudded
    ** Co adds that the two wells expected to produce at least
25 PJ of gas over their lifetime
    ** About 1.1 mln shares change hands, 2.3x the 30-day
average of 462,125
    ** Stock up 10.4% in 2024

    

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)
 ((Jasmeenaraislam.shaikh@thomsonreuters.com))