Latest Nuenergy Gas (Asx:Ngy) News

NuEnergy Gas Limited has announced a $4.62 million entitlement offer, primarily to fund early gas sales and development of its Indonesian coal bed methane assets. The offer is partially underwritten by a major shareholder and supports key milestones in the company’s transition to commercial production.

NuEnergy Gas Limited reported a cash outflow for the September quarter, continuing its exploration spend while progressing an early gas sales initiative and preparing for further capital raising.

NuEnergy Gas Limited has completed drilling three wells and commenced initial gas sales at its Tanjung Enim PSC in Indonesia, marking a key step toward full-scale production. Regulatory approvals and commercial agreements are advancing, positioning the company for growth in the unconventional gas sector.

NuEnergy Gas Limited has obtained government approval to sell 1 MMSCFD of coal bed methane gas in Indonesia, marking a pivotal step in its transition to production and supporting the country’s energy security goals.

NuEnergy Gas Limited reports a mixed quarter with ongoing exploration costs and a strategic push towards early gas sales, while actively seeking new funding to sustain operations.

NuEnergy Gas Limited has completed drilling two wells at its Tanjung Enim PSC in Indonesia, advancing its early gas sales initiative targeting 1 million cubic feet per day. The company is finalizing a major gas sales agreement pending government approval.

NuEnergy Gas Limited has initiated drilling site preparation at its Tanjung Enim PSC, progressing towards early gas sales, while securing key commercial agreements and maintaining a strong cash position.

NuEnergy Gas Limited reported a $279,000 net cash outflow from operations in Q4 2024, maintaining a solid cash balance of $4.89 million. The company continues to rely on loans and capital management to fund its coal bed methane exploration activities.

NuEnergy has finalized the Gas Sales and Purchase Agreement for its Tanjung Enim project and is advancing drilling preparations, marking a key step toward production and revenue generation.