New Zealand Energy (TSE:NZ) has released an update.
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New Zealand Energy Corp reported a 2023 Q4 loss of $2,075,929, a stark contrast to the 2022 profit of $1,840,340, despite an increase in year-end cash. Production declined significantly due to equipment failures and high fuel costs, but the company is focusing on the Tariki gas development and repairing Copper Moki wells. Forward-looking statements warn of uncertainties and risks that may impact future results.
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