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An announcement from New Zealand Oil & Gas Limited ( (AU:ECH) ) is now available.
New Zealand Oil & Gas Limited reported a 12% increase in revenue to AUD 53.3 million for the half year ended 31 December 2024, driven by increased production from its acquisition of a 25% interest in the Mereenie field. However, profit after tax attributable to shareholders fell by 42% to AUD 3.7 million due to higher exploration expenses in the Perth Basin and Mahato PSC. The company declared an interim dividend of AUD 1.5 cents per share and changed its presentation currency to Australian dollars to better align with its market focus.
More about New Zealand Oil & Gas Limited
New Zealand Oil & Gas Limited operates in the energy sector, focusing on oil and gas exploration and production. The company has a significant presence in the Australian market, particularly in the Mereenie field in the Amadeus Basin, Northern Territory, Australia.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $53.28M
Find detailed analytics on ECH stock on TipRanks’ Stock Analysis page.