NGY – NuEnergy Gas Limited
1. Is NGY aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?
No.
2. If the answer to question 1 is “yes”.
(a) Is NGY relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? Please note that the recent trading in NGY’s securities would suggest to ASX that such information may have ceased to be confidential and therefore NGY may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is “yes”, you need to contact us immediately to discuss the situation.
(b) Can an announcement be made immediately? Please note, if the answer to this question is “no”, you need to contact us immediately to discuss requesting a trading halt (see below).
(c) If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made?
N/A
3. If the answer to question 1 is “no”, is there any other explanation that NGY may have for the recent trading in its securities?
The Company notes positive independent analyst commentary about NGY reported today in an article published in various Australian media outlets, including The Courier Mail and The Daily Telegraph. Specifically, we refer to the following article written by analyst and investor, Craig Dickson: “This big player just took a major bet – we’d be wise to pay attention” and published in The Daily Telegraph, amongst other news websites.
The Company also notes recent increased investor interest in energy stocks due to the conflict in the Middle East and its impact on energy prices globally.
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QUARTERLY ACTIVITIES REPORT
EXPLORATION AND DEVELOPMENT ACTIVITIES BY PRODUCTION SHARING CONTRACT
Tanjung Enim Production Sharing Contract PSC
• Location: South Sumatra, Indonesia
• NuEnergy Participating Interest: 45%
• Operator: Dart Energy (Tanjung Enim) Pte Ltd – a subsidiary of NuEnergy
During the quarter, NuEnergy Gas Limited has completed the drilling of wells TE-B06-001, TE-B06-002, TE-B06-003 and TE-B01-003 under its Early Gas Sales Initiative, which targets initial gas sales of 1 million standard cubic feet per day from its Tanjung Enim PSC. This initiative represents the first phase of the broader 25 MMSCFD production plan approved under the Tanjung Enim Plan of Development 1.
Gas shows were observed at surface via logging equipment, confirming the presence of coal bed methane across multiple seams during the drilling operations. Dewatering operations have commenced and gas flaring was initiated as the dewatering operations reached a stable stage, evidenced by consistent casing pressure and sustained gas flow. The flaring is to establish the gas flow rates and overall well performance.
