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New Zealand Oil & Gas Limited ( (AU:ECH) ) has issued an update.
Echelon Resources Limited, operating in the oil and gas industry, has reported significant growth in its financial results for the six months ending December 2024. The company saw a 12% increase in revenue and a 30% rise in operating cash flow, driven by a 21% increase in production following the acquisition of an additional stake in the Mereenie field. Despite a decline in group NPAT, the company’s strategy to focus on gas production to support energy transition has resulted in strong revenue growth, particularly in the Mereenie field, which saw a 99.2% revenue increase.
More about New Zealand Oil & Gas Limited
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $53.28M
Find detailed analytics on ECH stock on TipRanks’ Stock Analysis page.