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New Zealand Energy ( (TSE:NZ) ) has shared an announcement.
New Zealand Energy Corp. reported a significant financial loss for Q4 2024, attributed to non-cash expenses like depreciation and depletion. The company faced challenges with its Tariki-5A well due to liquid loading, prompting an earlier shift to gas storage operations. Efforts are underway to enhance production, including working over Copper Moki wells and reviving Waihapa-Ngaere wells, which are expected to boost oil production. These developments aim to position the company for advancing the Tariki Gas Storage project and exploring further opportunities.
More about New Zealand Energy
New Zealand Energy Corp. operates in the energy sector, focusing primarily on oil and gas production and development. The company is engaged in exploration and production activities, with a market focus on enhancing its production capabilities and exploring new opportunities within its existing acreage.
Average Trading Volume: 13,186
Technical Sentiment Signal: Sell
Current Market Cap: C$5.36M
See more data about NZ stock on TipRanks’ Stock Analysis page.