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11.1% 2.0¢ nuenergy gas limited

Extracted from NGY’s latest Quarterly Report December 2023 on...

  1. Begoodandkind
    305 Posts.
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    29/01/24
    23:00
    Post #: 72121868

    Extracted from NGY’s latest Quarterly Report December 2023 on Muara EnimII PSC which was announced today


    Muara Enim II PSC


    Inthe previous quarter NuEnergy undertook a geological study and preliminarysurvey for three selected core hole well locations to fulfil the PSC’s firmcommitments. From the geological study, it appears that the coal seam of theMuara Enim II PSC is contiguous to our Tanjung Enim PSC, NuEnergy’s mostadvanced CBM asset which is in the midst of being developed. The result fromthe drilling of these core hole wells will confirm the coal seam lateraldistribution hence the extensiveness of the gas resource.

    Thecoring operation is on track to complete before the exploration perioddeadline. NuEnergy is currently preparing the drilling program and theenvironmental permit for coring activities to be completed by 29 January 2025.

    NGY Price at posting: 2.2¢ Sentiment: Buy Disclosure: Held
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