Monday, September 15, 2025

Latest

NG Energy Enters Three Year Agreement For Sale Of 8,000 MMBTU Of Gas

NG Energy International (TSXV: GASX) continues to see demand for its natural gas produced in Colombia. The firm this morning indicated it has entered into a three year agreement for the sale of natural gas produced at the Maria Conchita gas field under a binding letter of intent.

The arrangement, entered into with Plus+ Energy ESP, will see the company sell up to 8,000 MMBTU per day under a firm volume purchase agreement, or what equivalates to the firms 80% participating interest in the gas fields production.

“We are very pleased to have received a binding letter of intent for the sale of our gas from Maria Conchita and look forward to fulfilling further demand, from the country of Colombia, as we develop more wells at both our Maria Conchita and SINU-9 blocks,” commented NG Energy CEO Serafino Iancono.

Most notably, the company has seen a price increase on the sale of its gas. Previously arrangements entered into with Plus+ Energy were pegged at US$5.08 per MMBTU. In the current contract, the sale price has climbed by 28%, with NG Energy locking in the supply agreement at US$6.50 per MMBTU.

READ: NG Energy Spuds Second Well At SINU-9 Gas Field

Production at the gas field is said to currently amount to 4,355 MMBTU per day, with production slated to increase to 20,740 MMBTU per day. Sales to date have been made to Grupo Vanti and Enel Colombia on an interruptible basis, and production in excess of the Plus+ Energy agreement will continue to be sold on an interruptible basis. The most recent pricing on these interruptible sales is said to be US$5.08.

NG Energy last traded at $0.80 on the TSX Venture.


FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive has been compensated to provide coverage on this company. The company has been compensated to cover this story on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

NG Energy Hits 100 Feet Net Pay At Magico-1

NG Energy (TSXV: GASX) this morning issued a brief update on the status of its...

Tuesday, June 28, 2022, 08:23:37 AM

NG Energy Provides Construction Update For First Production Facilities

NG Energy (TSXV: GASX) this morning provided a brief update on the status of its...

Monday, July 19, 2021, 09:10:00 AM

NG Energy To Conduct A $7.0 Million Bought Deal Financing

NG Energy (TSXV: GASX) has announced a $7.0 million bought deal financing. The company will...

Wednesday, January 20, 2021, 08:25:58 AM

NG Energy: Beacon Reiterates C$2.80 Price Target

On October 7, NG Energy’s (TSXV: GASX) announced that they secured a $7 million, non-brokered...

Tuesday, October 12, 2021, 11:40:00 AM

NG Energy Begins Drilling First Well At Sinu-9

NG Energy International (TSXV: GASX) has finally begun the process of developing its flagship asset,...

Tuesday, May 31, 2022, 09:52:00 AM