Arafura Rare Earths (ASX:ARU) along with the Mereenie joint venture (Mereenie JV) partners said the condition precedent date for its existing conditional gas supply agreement has been extended to Feb. 4, 2025, from Dec. 31, according to a Friday filing with the Australian bourse.

The company's unit Arafura Nolans Project signed agreements with the Mereenie JV partners, including Central Petroleum (ASX:CTP), Cue Energy Resources (ASX:CUE), Macquarie Group's (ASX:MQG) unit Macquarie Mereenie, Horizon Oil (ASX:HZN), and Echelon Resources (ASX:ECH).

Under the agreement, the partners will supply up to 27.4 petajoules of natural gas for the company's Nolans Project in the Northern Territory for three years.

Central Petroleum's shares dropped almost 4% in recent Friday trade, Macquarie Group's shares shed more than 2%, and Echelon Resources' shares fell past 1%.