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Echelon Resources Limited (ASX:ECH)

ALERT: Price-sensitive ASX Announcement for ECH
Current share price for ECH : $0.345 -0.015 (-4.17%)+
Announcement
Release
29 Aug 2025 7:30AM
Price at Release
$0.360
Full Release
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Summary
Echelon Resources Limited announced significant growth in its financial results for the year ending 30 June 2025, with a 34% increase in revenue to A$115.3 million, primarily driven by an increased stake in the Mereenie field. Production volumes rose by 26%, leading to higher net operating cash flows of A$54.1 million, up 62% from the previous year. The final dividend of AUD 0.75 cents per share was declared, culminating in a full-year dividend of AUD 2.25 cents per share. The company has focused on strategic growth, acquiring a 100% interest in the exploration permit EP145 and planning a major 3D seismic survey. Echelon's Cue subsidiary also reported a 10% increase in revenue. The financial presentation currency was changed to Australian dollars to align with market presence and strategic direction.
Key Points
  • Revenue increased by 34% to A$115.3 million due to the acquisition of an additional 25% interest in the Mereenie field.
  • Production volumes rose by 26% to 1.7 million barrels of oil equivalent (mmboe).
  • Net Profit After Tax (NPAT) attributable to shareholders, excluding impairments and exploration expenditure, increased by 42% to A$16.5 million.
  • The final dividend declared is AUD 0.75 cents per share, making the full-year dividend AUD 2.25 cents per share.
  • Net operating cash flows increased by 62% to A$54.1 million.
  • The Mereenie field's gas production rose by 16% due to new wells and sales agreements.
  • Echelon's Cue subsidiary generated A$42.4 million from activities in Indonesia and New Zealand.
  • Strategic growth initiatives include the acquisition of a 100% interest in the exploration permit EP145 and a large 3D seismic survey.
  • The Group changed its presentation currency to Australian dollars starting 1 July 2024.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.