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New Zealand Oil & Gas Limited ( (AU:ECH) ) just unveiled an announcement.
New Zealand Oil & Gas Limited reported a 12% increase in revenue to AUD 53.3 million for the half year ending 31 December 2024, driven by enhanced production following the acquisition of an additional 25% interest in the Mereenie field. Despite the revenue growth, the company’s net profit after tax decreased by 42% to AUD 3.7 million, largely due to increased exploration expenses in the Perth Basin and the Mahato PSC. The company declared an interim dividend of AUD 1.5 cents per share, reflecting its ongoing commitment to shareholder returns.
More about New Zealand Oil & Gas Limited
New Zealand Oil & Gas Limited operates in the energy sector, primarily focusing on oil and gas exploration and production. The company has a significant presence in the Australian market, particularly in the Amadeus Basin, Northern Territory, Australia.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $54.38M
See more data about ECH stock on TipRanks’ Stock Analysis page.