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The latest update is out from NG Energy International ( (TSE:GASX) ).
NG Energy International has secured approval from Colombia’s National Hydrocarbon Agency for its previously announced Sinú-9 Block transactions, clearing the final regulatory hurdle to sell a 40% working interest and operatorship to Etablissements Maurel & Prom for US$150 million and jointly acquire an additional 28% interest from minority partners. Upon closing, Maurel & Prom will operate the Sinú-9 Block with a 61% working interest while NG Energy will retain a 39% non-operating stake, positioning the partners to advance a six-well drilling campaign and potentially accelerate development of one of NG Energy’s key Colombian gas assets, with implications for the company’s growth trajectory and its ability to supply Colombia’s high-priced natural gas market.
The most recent analyst rating on (TSE:GASX) stock is a Sell with a C$0.87 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 Underperform.
NG Energy International’s overall stock score is primarily impacted by its financial instability and weak technical indicators. The negative valuation metrics further contribute to a low score, reflecting significant risks for investors.
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 and developing large-scale gas fields in the Americas, with a particular emphasis on supplying the premium-priced Colombian market. The company has raised over US$200 million in debt and equity, built three gas gathering, processing and treatment facilities with associated pipelines, and is pursuing an ambitious production target of 200 MMcf/d, underpinned by a management team with deep South American technical and capital markets experience and significant insider ownership.
Average Trading Volume: 194,036
Technical Sentiment Signal: Sell
Current Market Cap: C$249.6M
See more data about GASX stock on TipRanks’ Stock Analysis page.