Central Petroleum (ASX:CTP) along with its joint venture (JV) partners Cue Energy Resources (ASX:CUE), Horizon Oil (ASX:HZN), and Echelon Resources (ASX:ECH) said the well at the Mereenie JV is online ahead of schedule and producing over 4 terajoules per day (Tj/d), above previous expectations of 3 TJ/d, according to a filing with the Australian bourse.
The combined gas sales of both wells at the JV have increased by 9 Tj/d, bringing the gas field's total capacity to 32 Tj/d, the filing said.
The company operates the joint venture with a 25% interest, while Echelon holds a 42.5% stake, and Horizon Oil owns 25%.
Central Petroleum's shares inched up 2% in recent trade.
Price (AUD): $0.06, Change: $+0.0010, Percent Change: +1.64%
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