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New Zealand Oil & Gas Limited
(Sydney:ECH)
New Zealand Oil & Gas Limited (ECH) vs. iShares MSCI Australia ETF (EWA)
New Zealand Oil & Gas Limited Business Overview & Revenue Model
New Zealand Oil & Gas Limited Financial Statement Overview
| Breakdown | Jun 2024 | Jun 2023 | Jun 2021 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 124.19M | 92.87M | 83.81M |
| Gross Profit | 122.89M | 94.14M | 84.15M |
| EBITDA | 53.56M | 31.91M | 36.58M |
| Net Income | 3.48M | 3.93M | 17.16M |
Balance Sheet | |||
| Total Assets | 323.75M | 332.64M | 282.36M |
| Cash, Cash Equivalents and Short-Term Investments | 39.63M | 42.29M | 64.59M |
| Total Debt | 51.57M | 53.00M | 0.00 |
| Total Liabilities | 155.24M | 157.76M | 119.95M |
| Stockholders Equity | 144.78M | 155.44M | 148.65M |
Cash Flow | |||
| Free Cash Flow | 51.91M | 33.57M | 22.28M |
| Operating Cash Flow | 0.00 | 0.00 | 0.00 |
| Investing Cash Flow | -37.64M | -67.35M | -63.58M |
| Financing Cash Flow | -22.92M | 36.82M | 24.75M |
New Zealand Oil & Gas Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | AU$97.97M | 3.94 | 12.05% | 13.04% | 10.44% | -55.67% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
56 Neutral | AU$82.86M | ― | 2.32% | 6.72% | ― | ― | |
44 Neutral | AU$78.57M | -16.33 | -3.37% | ― | ― | 22.50% | |
43 Neutral | AU$82.95M | -9.56 | -2.37% | ― | ― | 17.02% |
New Zealand Oil & Gas Limited Corporate Events
Echelon Resources Limited has updated its previously announced dividend details for the six‑month period ended 31 December 2025, payable on its ordinary fully paid shares. The update clarifies the foreign exchange rate applied to New Zealand investors, confirming a rate of 1.2079 and setting the New Zealand dollar equivalent of the dividend at 0.0048316 dollars, or 0.48316 cents, per share.
The revised currency conversion provides greater transparency for New Zealand shareholders ahead of the 12 March 2026 record date and 11 March 2026 ex‑date. This move ensures investors can more accurately assess the cash value of their upcoming distribution in local currency, potentially aiding portfolio planning and reinforcing the company’s attention to cross‑border shareholder communication.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
Horizon Oil and its Mereenie Joint Venture partners have reached an agreement with the Northern Territory’s Power and Water Corporation to extend the deadline for finalising a binding gas sales agreement. The execution date has been pushed from 2 March 2026 to 24 March 2026, giving the parties additional time to convert their existing letter of intent into a definitive supply contract, which is a key step for securing future gas sales volumes and revenue from the Mereenie project.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
Central Petroleum and its Mereenie and Palm Valley joint venture partners have secured an extension from the Northern Territory’s Power and Water Corporation to finalise binding gas sales agreements, pushing the deadline from 2 March to 24 March 2026. The short extension suggests negotiations are at an advanced stage and underscores the importance of these contracts for ongoing gas supply in the region, with potential implications for Central’s revenue visibility and its role in the Northern Territory energy market.
By locking in long-term sales arrangements with a major utility buyer, Central Petroleum aims to reinforce its position as a key gas supplier in central and northern Australia and support future development across its production assets. The outcome of these talks will be closely watched by stakeholders, as the agreements are likely to influence investment decisions, joint venture planning and regional energy security in the near term.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
Echelon Resources has announced that the Mereenie and Palm Valley joint venture partners have agreed with the Northern Territory’s Power and Water Corporation to extend the deadline to execute binding gas supply agreements from 2 March 2026 to 24 March 2026. The extension gives the parties additional time to finalise long-term supply arrangements that are expected to be important for monetising Echelon’s core onshore Australian gas assets and could influence future development planning across the Mereenie and Palm Valley fields.
The Mereenie permits OL4/OL5 are operated by Central Petroleum with Echelon holding 42.5%, alongside Cue and Horizon Australia Energy, while the Palm Valley permit OL3 is also operated by Central Petroleum with Echelon holding 35% and Cue the remaining 15%. These stakes underpin Echelon’s regional gas growth ambitions and position the company as a key participant in supplying the Northern Territory market pending completion of the gas supply contracts.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
Echelon Resources Limited has agreed to sell a 19.99% stake in Cue Energy Resources Limited to Horizon Oil Limited via an off-market transaction priced at A$0.115 per share, subject to regulatory approvals in the Northern Territory. The sale is scheduled to complete shortly after the end of Horizon’s proposed takeover offer period, provided the bid becomes unconditional.
In parallel, Echelon intends to accept Horizon’s off-market takeover offer for all remaining Cue shares it holds or controls 21 days after the offer opens, in the absence of a superior proposal and subject to ASX Listing Rule requirements. The move marks a potential reshaping of Echelon’s indirect holdings in Cue and could alter ownership dynamics across their shared oil and gas asset base, with further market updates promised as the transaction progresses.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
Echelon Resources Limited has declared a semi-annual distribution of AUD 0.004 per ordinary fully paid share for the six-month period ended 31 December 2025, with an ex-date of 11 March 2026, record date of 12 March 2026 and payment scheduled for 31 March 2026. The cash return underlines the company’s intention to continue distributing capital to shareholders on a regular timetable, offering income-focused investors clarity on key dates for entitlement and payment of the latest dividend.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
Echelon Resources reported a strong first half to 31 December 2025, with shareholder net profit after tax rising 61 percent to A$6.0 million on the back of improved gas prices, steady production and reduced exploration activity. Revenue grew 7 percent to A$57.2 million, while net tangible assets per share increased and the company declared an interim dividend of AUD 0.40 cents per share, underscoring its emphasis on shareholder returns and balance sheet strength.
Gas sales from the Amadeus Basin, particularly the Mereenie field, underpinned performance, with Mereenie revenue up 33 percent and overall natural gas and LPG revenue climbing to A$38.1 million despite weaker oil prices and constraints. Although operating cash flow eased due to timing of Mahato field receipts, Echelon reduced debt by A$12 million and highlighted an imminent Northern Territory gas sales agreement that will support drilling four new wells from mid-2026, positioning the company for further production and revenue growth.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
New Zealand Oil & Gas Limited reported group revenue of AUD 57.2 million for the half year to 31 December 2025, up 7% on the prior corresponding period, driven largely by stronger gas pricing under a new Northern Territory Gas Sales Agreement and a 33% revenue lift from the Mereenie field. Net profit after tax jumped 61% to AUD 6.0 million as improved pricing and operational performance offset prior-year exploration costs, while net assets rose to AUD 160.1 million, cash stood at AUD 32.9 million after repaying AUD 12 million of debt, and the board declared an interim dividend of 0.40 cents per share following prior dividend payments.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
Echelon Resources Limited has secured an extension to the deadline for executing binding gas sales agreements with the Northern Territory’s Power and Water Corporation, moving the cut-off from 20 February to 2 March 2026. The agreements relate to production from the Mereenie and Palm Valley fields, where Echelon holds significant interests alongside Central Petroleum, Cue Energy and Horizon Australia Energy.
The short extension provides the joint venture parties with additional time to finalise commercial terms for future gas sales, which are linked to Echelon’s growth plans and the planned drilling of four new wells in the Northern Territory. Successful execution of these agreements would underpin monetisation of core assets and support Echelon’s broader strategy of expanding its Australasian gas portfolio in partnership with other regional operators.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
Horizon Oil and its Mereenie Joint Venture partners have agreed with the Northern Territory’s Power and Water Corporation to extend the deadline for executing a binding long-term gas sales agreement from 20 February 2026 to 2 March 2026. The short extension suggests negotiations on the Mereenie gas offtake are progressing but require additional time, with the eventual agreement expected to underpin future production from two new wells and provide greater supply certainty for the territory’s power utility and regional energy consumers.
The revised timetable slightly delays formalisation of an important revenue source for Horizon and its partners, but maintains commercial momentum around the Mereenie project and signals continued commitment from both the producers and the government-owned buyer. Stakeholders will be watching for the final terms of the gas sales agreement, which will shape cash flows for the joint venture and influence gas availability and pricing in the Northern Territory market.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
Central Petroleum and its joint venture partners at the Mereenie and Palm Valley fields have secured an extension from the Northern Territory’s Power and Water Corporation to finalise binding gas sales agreements, pushing the deadline from 20 February 2026 to 2 March 2026. The short extension buys the parties additional time to lock in long-term gas supply contracts that are important for Central’s production planning and for regional energy customers relying on secure onshore gas from the Northern Territory.
While the announcement is procedurally focused on timing, it underscores the strategic significance of the Mereenie and Palm Valley assets within Central’s portfolio and for the NT gas market. Progress toward binding agreements is likely to influence the company’s medium-term sales volumes and revenue visibility, and holds implications for the stability of gas supply to central and northern Australian power and industrial users.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
Echelon Resources has entered 2026 with new gas sale contracts for its Mereenie and Palm Valley fields at higher realised prices and has reached a non-binding, conditional agreement with Power and Water Corporation for long-term gas sales out to 2034, covering up to 22.5 petajoules of firm volumes net to the group from existing production. To support these commitments, the company is advancing plans to drill four new wells in the Amadeus Basin from mid‑2026, targeting up to 13.3 petajoules of additional supply, while continuing development and optimisation at its Mahato project in Indonesia; despite a 1.8% quarter-on-quarter production decline to 407,252 boe, Echelon further deleveraged its balance sheet with a A$7 million loan repayment, retaining substantial undrawn debt capacity to fund approved development and growth opportunities.
The most recent analyst rating on (AU:ECH) stock is a Hold with a A$0.38 price target. To see the full list of analyst forecasts on New Zealand Oil & Gas Limited stock, see the AU:ECH Stock Forecast page.
New Zealand Oil & Gas Limited has disclosed a change in the interests of director Andrew Jefferies in Echelon Resources Limited, reflecting an adjustment to his equity-based remuneration. On 22 December 2025, Jefferies was granted 675,257 additional options to acquire ordinary shares in Echelon Resources at an exercise price of A$0.43 per option under the company’s Employee Options Plan, increasing his total unquoted options holding to 3,157,825 while his holding of 50,000 listed ordinary shares remains unchanged. The move underscores the company’s continued use of option-based incentives to align director and executive interests with long-term shareholder value, modestly increasing Jefferies’ potential future stake in the business.
Echelon Resources Limited has notified the market of the issue of 3,830,126 unquoted options to acquire ordinary shares, granted on 18 December 2025 under an employee incentive scheme. The move expands the company’s pool of unquoted equity linked to staff incentives, signalling an ongoing reliance on equity-based compensation that may modestly dilute existing shareholders over time while seeking to align employees’ interests with long-term company performance.