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New Zealand Oil & Gas Limited ( (AU:ECH) ) has provided an announcement.
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. The execution date has been pushed from 2 March 2026 to 24 March 2026, giving the parties additional time to convert their existing letter of intent into a definitive supply contract, which is a key step for securing future gas sales volumes and revenue from the Mereenie project.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 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 oil and gas company listed on the ASX, focused on exploration, development, and production of hydrocarbon resources. The company participates in joint venture projects, including the Mereenie gas field in the Northern Territory, supplying energy to domestic utility and power markets.
YTD Price Performance: 4.48%
Average Trading Volume: 20,012
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$78.38M
For an in-depth examination of ECH stock, go to TipRanks’ Overview page.