Echelon Resources Updates on Arafura Gas Supply Agreement

New Zealand Oil & Gas Limited ( (AU:ECH) ) just unveiled an update.

Echelon Resources Limited announced that its conditional Gas Sales Agreement with Arafura Rare Earths has lapsed due to unmet conditions related to Arafura’s final investment decision. The company plans to re-market the gas as part of the Mereenie Joint Venture, emphasizing the timing and priority misalignment as the reason for the lapse. Echelon remains supportive of Arafura’s Nolans Project and looks forward to future collaboration as the project progresses.

More about New Zealand Oil & Gas Limited

Echelon Resources Limited, trading as Echelon (ASX:ECH), is an energy commodity exploration and production company focused on Australasia. Headquartered in Wellington, New Zealand, the company is committed to ethical and values-based development and exploration activities, maintaining strong ESG standards. Echelon holds a diverse portfolio of onshore and offshore oil and gas assets in Australia, New Zealand, and Indonesia, either directly or through its stake in Cue Energy Resources Limited (ASX:CUE). The company, along with its partners, actively explores and develops these assets while seeking additional value-accretive opportunities.

YTD Price Performance: 450.0%

Technical Sentiment Signal: Sell

Current Market Cap: $55.31M

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