NG Energy Posts Record Revenues and Reserves Growth

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

NG Energy International Corp. has reported a record-breaking financial performance for the fiscal year ended December 31, 2023, with annual revenue soaring to US$12.0 million, a substantial increase from the previous year’s US$1.8 million. The company also witnessed a significant uptick in oil and gas reserves, with a 314% rise in 2P reserves and a 551% jump in 3P reserves. This growth is attributed to successful drilling and the completion of wells, notably at the Maria Conchita Block, leading to a robust production surge.

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