MIE Holdings Faces Production Decline but Secures Future Operations

MIE Holdings Corp. ( (HK:1555) ) has shared an update.

MIE Holdings Corporation reported a challenging year for 2024, with a significant decline in crude oil production and financial performance. The company experienced a 36.2% drop in gross crude oil production and a 60% decrease in profit from operations. Despite these setbacks, MIE Holdings has completed its drilling commitments at the Daan Oilfield ahead of schedule and secured an extension for its commercial production period until 2028, indicating a strategic focus on stabilizing and potentially enhancing its future operations.

More about MIE Holdings Corp.

MIE Holdings Corporation is involved in the oil industry, focusing on the exploration and production of crude oil. The company operates primarily in China and has been engaged in significant projects such as the Daan Oilfield, where it collaborates with China National Petroleum Corporation.

Technical Sentiment Consensus Rating: Buy

Current Market Cap: €9.97M

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