NG Energy Acquires Minority Interests in Sinu-9, Strengthens Partnership with Maurel & Prom

NG Energy International ( (TSE:GASX) ) has provided an update.

NG Energy International Corp. has announced the acquisition of a 28% minority interest in the Sinu-9 block, in collaboration with Maurel & Prom. This acquisition will result in NGE holding a 39% working interest, while M&P will hold 61% and assume operatorship. The companies are preparing for a six-well exploration campaign expected to start in October 2025. Revised payment terms for the M&P transaction have been agreed upon, maintaining the total consideration at $150 million, with a structured payment plan. This consolidation is seen as a strategic move to strengthen partnerships and advance energy projects in Colombia.

The most recent analyst rating on (TSE:GASX) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on NG Energy International stock, see the TSE:GASX Stock Forecast page.

Spark’s Take on TSE:GASX Stock

According to Spark, TipRanks’ AI Analyst, TSE:GASX is a Neutral.

NG Energy International shows strong revenue growth and positive corporate developments, which improve its outlook. However, ongoing profitability issues and a negative P/E ratio limit its attractiveness. The technical indicators are neutral, reflecting a balanced market sentiment.

To see Spark’s full report on TSE:GASX stock, click here.

More about NG Energy International

NG Energy International Corp. is a growth-oriented natural gas exploration and production company focused on discovering, delineating, and developing large-scale natural gas fields in the Americas. The company aims to deliver long-term value to shareholders and stakeholders by supporting energy transition and economic growth.

Average Trading Volume: 107,259

Technical Sentiment Signal: Sell

Current Market Cap: C$224.6M

Learn more about GASX stock on TipRanks’ Stock Analysis page.