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New Zealand Oil & Gas Limited ( (AU:ECH) ) just unveiled an announcement.
Echelon Resources Limited announced a significant upgrade in its gas reserves across key Australian assets, with a notable 9% increase at the Mereenie field. Despite a downward revision at Kupe and Cue, the company achieved a 4% overall positive reserves movement, reinforcing its strategic position in Australia’s energy market. This reserves uplift is expected to support Echelon’s operations in high-demand markets with favorable regulatory environments, potentially benefiting stakeholders by enhancing the company’s market positioning and operational capabilities.
More about New Zealand Oil & Gas Limited
Echelon Resources Limited is an Australasia-focused energy commodity exploration and production company headquartered in Wellington, New Zealand. The company is involved in the exploration and development of oil and gas assets across Australia, New Zealand, and Indonesia, either directly or through its stake in Cue Energy Resources Limited. Echelon is committed to ethical and values-based operations, emphasizing strong ESG standards.
Average Trading Volume: 12,805
Technical Sentiment Signal: Sell
Current Market Cap: A$77.26M
See more insights into ECH stock on TipRanks’ Stock Analysis page.