The latest update is out from NG Energy International ( (TSE:GASX) ).
NG Energy International Corp. has announced significant operational advancements at its Sinu-9 Block and Maria Conchita projects. At Sinu-9, the company has commissioned a mobile plant and is expanding its processing capacity, while at Maria Conchita, it is addressing production challenges and planning to increase capacity. Additionally, the company has received an initial payment of $20 million from Etablissements Maurel & Prom S.A. for a 40% interest in Sinu-9, with the remaining payment contingent on certain conditions. These developments are set against a backdrop of rising natural gas prices in Colombia, driven by increased import dependency.
More about NG Energy International
NG Energy International Corp. operates in the energy sector, focusing on the exploration and production of natural gas. The company is involved in projects such as the Sinu-9 Block and Maria Conchita, aiming to enhance its gas processing and production capacities.
YTD Price Performance: -19.47%
Average Trading Volume: 306,543
Technical Sentiment Signal: Buy
Current Market Cap: C$229.5M
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