Current chairman Graeme Robertson holds 43 million+ NGY shares.
Grame Robertson was MD of New Hope Corporation (NHC) 1987-2005... NHC is now a $3.25 billion energy company.
Current CEO Chris Newport has 25 years oil and gas industry experience, previously worked for the Hess Corporation, Gulf Indonesia,Santos, BHP Petroleum, AGL, and Delhi Petroleum.
Gas offtake agreement for $4-$20 million per annum signed, delivery point at NuEnergy's coal bed methane plant gate.
First cash flow from sales expected within 3 months, worth up to $8 million per year in revenue to NGY taking into account 40% interest.
NGY entire cap $10 million.
Very interesting to see the 20 YEARS accumulation of NGY, visible on final chart OBV.
Tanzania, East Africa: big shale gas permit in the Selous Basin with large untested structures, expected to be granted within 4 weeks - only one well has ever been drilled in the 50000km2 Selous Basin.
Scout drilling has commenced at separate Tanzanian shale target.
Malawi, East Africa: 346km2 shale gas EPL - the first ever unconventional gas exploration licence in the country.
Talk about early mover advantage!
Airborne geophysical survey completed during quarter, results being processed for drill targeting.
NGY has three operated production sharing contacts in Indonesia: - Muara Enim 40% interest - Muara Enim II 30% interest - Rengat 100% interest
Just spudded 2nd production well with partner Pertamina; 1st well 500m away, producing gas for over 4 months.
Netherland Sewell estimated a 7.8 trillion cubic feet gas- in-place resource for the two Maura Enim projects alone.
Rengat covers 3000km2 close to major gas pipeline from Jakarta to Duri and related infrastructure.
