PWC spends $19+ million to reverse NGP flows

Bi-directional flow began on the NGP this month - this bodes well for CTP given it costs ~$5/GJ to ship from NT to east coast.
https://www.abc.net.au/news/2025-07-30/nt-power-and-water-corporation-northern-gas-pipeline-reversal/105586778

So whilst we used to sell at $5/GJ under east coast prices when shipping south, we're now able to sell at up to $5/GJ over east coast prices when PWC starts buying. That's a $10/GJ turnaround in EBITDAX we can earn on all future gas sales into the NT.

Given a east coast gas market price of $10-15/GJ implies a $15-$20/GJ portfolio price for CTP is in the realm of possibilities over the next few years. Every $1/GJ increase in the portfolio price is ~$5m pa in EBITDAX at current production rates. That's why we need to ramp up - these margins are a fundamental game changer for the company.