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JX Energy Ltd. ( (HK:3395) ) has provided an update.
JX Energy Ltd. has received primary regulatory approval from Alberta Environment and Protected Areas for its natural gas power project, with the approved capacity adjusted from 9.6MW to 9.5MW, and is continuing to seek the remaining permits. The board has also approved development of a 75,000-tonne-per-year liquefied natural gas project that will use the company’s own gas production and existing pipelines to supply LNG as a diesel replacement for local drilling operations, trucking fleets and power generation, a move expected to enhance the value of its gas assets and broaden its business mix, although both projects remain contingent on securing all necessary regulatory approvals.
The most recent analyst rating on (HK:3395) stock is a Hold with a HK$0.34 price target. To see the full list of analyst forecasts on JX Energy Ltd. stock, see the HK:3395 Stock Forecast page.
More about JX Energy Ltd.
JX Energy Ltd., incorporated in Alberta and listed in Hong Kong, operates in the upstream energy sector, producing natural gas and leveraging its own pipeline gathering system. The company focuses on monetising its gas resources through power generation and liquefied natural gas (LNG) projects aimed at serving local industrial and transportation fuel markets.
Average Trading Volume: 362,095
Technical Sentiment Signal: Buy
Current Market Cap: HK$213M
See more insights into 3395 stock on TipRanks’ Stock Analysis page.