Mereenie JV Extends Gas Supply Agreement with South32 for Northern Territory's Mereenie Field

MT Newswires Live06-24

The Mereenie joint venture extended its gas supply agreement with South32 (ASX:S32) for another twelve months, contingent upon transportation arrangements, Central Petroleum (ASX:CTP) said in a Monday filing with the Australian bourse.

Horizon Oil (ASX:HZN) holds a 25% stake in the Mereenie project, alongside joint venture partners Central Petroleum, which holds 25% and is the operator, New Zealand Oil & Gas (ASX:NZO, NZE:NZO), with a holding of 42.5%, and Cue Energy Resources (ASX:CUE), with a holding of 7.5%, the filing said.

Shares of Horizon Oil fell 4% while those of New Zealand Oil & Gas gained 4%. Shares of Cue Energy Resources added 5%, Central Petroleum added 8%, while shares of South32 fell over 1%.

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