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CENTRAL PETROLEUM LIMITED — Capital/Financing Update 2021
Nov 28, 2021
64718_rns_2021-11-28_ebd707b9-008a-4669-b5c3-ab805b4052f4.pdf
Capital/Financing Update
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29 November 2021
NEW GAS SUPPLY AGREEMENT – AMADEUS ASSETS
New Zealand Oil & Gas is pleased to confirm it has entered a new gas supply agreement for supply of gas to Northern Territory’s Power and Water Corporation via a back-to-back agreement with Macquarie Mereenie Pty Limited.
The agreement will commercialise a portion of the increased production made available by the recent Mereenie development campaign, which saw two new production wells drilled and four existing wells recompleted. It will extend the period of production under contract.
New Zealand Oil & Gas’s gas will be aggregated with gas from Macquarie Mereenie, Cue Energy and Central Petroleum to supply a total of 12.6 PJ over 4 years, commencing 1 January 2022.
Andrew Jefferies commented “this is a great outcome, with the new agreement selling uncontracted gas at a price consistent with our expectations when buying the assets”.
For further information please contact the Company on: email [email protected] phone +64 4 495 2424