New Zealand Energy (TSE:NZ) has released an update.
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New Zealand Energy Corp reported a Q1 2024 comprehensive loss of $914,919, with a significant reduction in cash reserves, signaling a challenging start to the year. Despite the financial setbacks, the company is forging ahead with the development of the Tariki gas project and is optimizing production in existing wells, with operations at Copper Moki-2 resuming shortly and plans to bring two Waihapa Ngaere field oil wells back to continuous production.
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