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The latest update is out from NuEnergy Gas Limited ( (AU:NGY) ).
NuEnergy Gas Limited has finalized the terms of a Gas Sales and Purchase Agreement (GSPA) with Indonesia’s PT Perusahaan Gas Negara for the Tanjung Enim project. This agreement marks a significant step toward commencing gas production, pending approvals from the Ministry of Energy and Mineral Resources. The company is also making progress in the Muralim PSC by accelerating the dewatering process to enhance gas production data, which is crucial for transitioning from exploration to production.
More about NuEnergy Gas Limited
NuEnergy Gas Limited operates in the energy sector, focusing primarily on the exploration and commercialization of coal bed methane. The company has significant operations in South Sumatra, Indonesia, where it participates in Production Sharing Contracts (PSC) for natural gas extraction and distribution.
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €20.36M
For detailed information about NGY stock, go to TipRanks’ Stock Analysis page.