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New Zealand Oil & Gas Limited ( (AU:ECH) ) just unveiled an update.
Horizon Oil and its Mereenie Joint Venture partners have reached an agreement with the Northern Territory’s Power and Water Corporation to extend the deadline for finalising a binding gas sales agreement tied to the Mereenie gas field. The execution date has been pushed from 24 March 2026 to 1 April 2026, providing additional time for the parties to conclude negotiations, which is important for securing future gas supply arrangements and revenue visibility for the project stakeholders.
The short extension underscores the progress of ongoing discussions and maintains momentum toward locking in a key offtake contract for Mereenie gas. For Horizon and its partners, a completed gas sales agreement with the Territory’s utility would underpin continued gas production and support their role in meeting regional energy demand, with implications for both operational planning and market confidence.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.43 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
More about New Zealand Oil & Gas Limited
Horizon Oil Limited is an Australia-based energy company engaged in the exploration, development, and production of oil and gas. Listed on the ASX, the company focuses on supplying hydrocarbons to regional energy markets, including gas for power generation in the Northern Territory.
Average Trading Volume: 23,005
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$92.94M
For an in-depth examination of ECH stock, go to TipRanks’ Overview page.