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New Zealand Energy ( (TSE:NZ) ) has issued an update.
New Zealand Energy Corp. reported a comprehensive loss of $994,550 for Q1 2025, with a significant decrease in cash holdings and increased cash usage in operations compared to the previous year. The company has shifted its focus to the Tariki Gas Field conversion project due to a decline in gas rates, while also working on restoring production from Waihapa-Ngaere wells and planning workovers at Copper Moki. These efforts aim to enhance production rates and cash flow. Additionally, NZEC is advancing the Tariki Gas Storage project, with reservoir studies and commercial discussions underway, positioning the company to make a final investment decision within the next year.
More about New Zealand Energy
New Zealand Energy Corp. operates in the energy sector, focusing on the exploration and development of oil and gas resources. The company is primarily engaged in projects within New Zealand, with a market focus on optimizing and expanding its production capabilities.
Average Trading Volume: 13,186
Technical Sentiment Signal: Sell
Current Market Cap: C$5.36M
For an in-depth examination of NZ stock, go to TipRanks’ Stock Analysis page.