Latest Palm Valley News

Echelon Resources reported a slight dip in production but secured long-term gas sales contracts extending to 2034 and plans four new development wells in the Amadeus Basin. The company also reduced its debt by A$7 million, maintaining financial flexibility for growth.

Central Petroleum has secured a letter of intent for a long-term gas supply contract through 2034 and expanded its exploration portfolio into the Otway and Cooper Basins, setting the stage for multiple new wells and production growth.

Cue Energy Resources reports steady production and a strong cash position, advancing long-term gas contracts in Australia with new drilling planned. Key developments in Indonesia and New Zealand also shape the company’s near-term outlook.

Cue Energy Resources and partners have signed a Letter of Intent with the Northern Territory’s Power and Water Corporation to kickstart a four-well drilling program at Mereenie and Palm Valley, aiming for gas supply contracts through 2034.

Central Petroleum has signed a binding Letter of Intent with Northern Territory's Power and Water Corporation to fast-track drilling of four wells and establish long-term gas supply agreements through 2034.

Echelon Resources has signed a term sheet with the Northern Territory’s Power and Water Corporation to supply gas through 2034, including plans for four new wells that could significantly increase output from the Amadeus Basin.

Echelon Resources finalised its EP145 acquisition and reported a slight dip in production volumes, while Amadeus Basin receipts surged 24% thanks to new wells. The company maintains a strong cash position and is actively reshaping its portfolio for future growth.

Central Petroleum Limited reports a robust 22% increase in full-year revenue for FY25, driven by new gas sale contracts and strong operational cash flows. Production at key fields remains steady despite temporary constraints.

Cue Energy Resources delivered a robust quarter with production rising to 1,700 boe/d and a $7 million dividend payout, while advancing development projects in Australia and Indonesia.

Central Petroleum has successfully commissioned two new wells at Mereenie, exceeding production expectations and driving a 22% rise in quarterly revenue despite the lapse of a key gas supply agreement.

Central Petroleum Limited reported a solid quarter ending December 31, 2024, driven by increased gas production from new wells and a restructured loan facility that enhances financial flexibility.

Echelon Resources delivered a robust Q4 2024, driven by standout drilling results at Mereenie and a 23% rise in Amadeus production receipts, underpinning a strong financial position.