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New Zealand Oil & Gas Limited ( (AU:ECH) ) just unveiled an announcement.
Cue Energy Resources, a subsidiary of Echelon Resources Limited, announced a dividend payment of 0.5 cents per share, resulting in a total expected receipt of AUD 1.75 million for Echelon. This announcement highlights Echelon’s strategic positioning in the energy sector, leveraging its substantial stake in Cue to enhance its financial performance and potentially increase shareholder value.
More about New Zealand Oil & Gas Limited
Echelon Resources Limited, trading as Echelon, is an energy commodity exploration and production company based in Wellington, New Zealand, with a focus on Australasia. The company holds a diverse portfolio of onshore and offshore oil and gas assets across Australia, New Zealand, and Indonesia, either directly or through its significant stake in Cue Energy Resources Limited. Echelon is committed to ethical development and exploration activities, maintaining strong ESG standards, and continuously seeking opportunities to expand its asset base.
Average Trading Volume: 11,744
Technical Sentiment Signal: Hold
Current Market Cap: A$79.5M
Learn more about ECH stock on TipRanks’ Stock Analysis page.