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New Zealand Oil & Gas Limited ( (AU:ECH) ) has provided an announcement.
Echelon Resources Limited has reported a year of significant progress, marked by solid financial results and strengthened reserves. The completion of two new development wells in the Amadeus Basin exceeded expectations, enhancing field performance. The company also finalized the acquisition and transfer of operatorship for EP145, marking a return to exploration operatorship. Echelon maintained strong operational and financial performance, supported by steady production from its assets in the Amadeus fields, Indonesia, and New Zealand, resulting in continued profitability and dividend payments. The company remains focused on sustainability, strengthening its reporting standards and continuing its partnership with the Salk Institute’s Harnessing Plants Initiative. Echelon is positioned for future growth with plans for a 3D seismic campaign in 2026.
More about New Zealand Oil & Gas Limited
Echelon Resources Limited is an Australasia-focused energy commodity exploration and production company based in Wellington, New Zealand. The company is involved in both onshore and offshore 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 development and exploration activities, with a strong emphasis on ESG standards.
YTD Price Performance: 6.48%
Average Trading Volume: 18,590
Technical Sentiment Signal: Sell
Current Market Cap: A$77.26M
See more data about ECH stock on TipRanks’ Stock Analysis page.