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

Reuters

2025/01/16

** 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))

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