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New Zealand Oil & Gas Limited ( (AU:ECH) ) has shared an announcement.
Echelon Resources Limited has completed the acquisition of EP145, positioning itself as the operator of a promising permit adjacent to the Mereenie field. The company has signed a Seismic Acquisition Agreement and is advancing plans for a 3D seismic survey. Despite a slight decline in production volumes, Echelon remains well-positioned for growth with increased production revenues and strategic asset management. In Indonesia, Cue Energy Resources continues to perform well, with ongoing development drilling and potential contract extensions. The company is also focusing on high-value opportunities by withdrawing from non-commercial ventures in Western Australia.
More about New Zealand Oil & Gas Limited
Echelon Resources Limited operates in the oil and gas industry, focusing on exploration and production activities. The company is involved in various projects across Australia and Indonesia, with a strategic emphasis on disciplined capital allocation and value-led execution.
Average Trading Volume: 10,906
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$81.74M
Learn more about ECH stock on TipRanks’ Stock Analysis page.