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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, focuses on optimizing value from existing assets and exploring new growth opportunities. The company reported a slight decline in production volumes due to natural field decline and operational activities, but this was offset by an 8% increase in production at Maari and Mahato. The quarter saw significant achievements, including reserves upgrades, two new wells at Mahato, and the highest production at Maari in five years. The company paid a total dividend of A$3.5 million and made progress on planning and approvals for EP145, indicating potential for future growth.
More about New Zealand Oil & Gas Limited
Average Trading Volume: 19,694
Technical Sentiment Signal: Buy
Current Market Cap: A$79.5M
For an in-depth examination of ECH stock, go to TipRanks’ Overview page.