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New Zealand Oil & Gas Limited ( (AU:ECH) ) has provided an update.
Horizon Oil Limited announced that the gas supply agreement for Arafura’s Nolans rare earths project has lapsed due to the failure to meet a condition precedent by the deadline. As a result, Horizon and its Mereenie joint venture partners plan to re-market the gas production initially intended for the Nolans project to other customers in the Northern Territory and the East Coast, starting in 2028. This decision reflects ongoing delays in the Nolans project’s final investment decision, impacting the company’s operational plans and market strategy.
More about New Zealand Oil & Gas Limited
Horizon Oil Limited is a company operating in the oil and gas industry, focusing on the exploration, development, and production of hydrocarbons. The company is involved in joint ventures and markets its products primarily in regions such as the Northern Territory and the East Coast.
YTD Price Performance: 450.0%
Technical Sentiment Signal: Sell
Current Market Cap: $55.31M
See more data about ECH stock on TipRanks’ Stock Analysis page.
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