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Echelon Resources Limited (ASX:ECH)

ALERT: Price-sensitive ASX Announcement for ECH
Current share price for ECH : $0.345 -0.01 (-2.82%)+
Announcement
Release
31 Oct 2025 10:07AM
Price at Release
$0.355
Full Release
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Summary
Echelon Resources Limited reported increased production receipts of A$30.7 million, reflecting a 3.7% rise owing to the timing of Maari oil liftings. However, operating cash flow decreased by A$1.8 million due to higher production costs. During the quarter, Echelon paid a total dividend of A$3.5 million, with A$1.7 million distributed to its shareholders. Cue Energy Resources contributed A$9.1 million to Echelon's cash balance, while development activities at Mahato continued with costs consistent with the previous quarter. A new gas sales agreement was signed with McArthur River Mines, further emphasizing the company's strategy of selling into local NT markets. Drilling at Mahato resulted in a production increase of 2,000 barrels per day, despite a 2.6% decline in overall production volumes due to natural declines and operational activities. Mereenie's gas production and reserves upgrade exceeded expectations, and significant progress was made in planning and approvals for unlocking EP145.
Key Points
  • Production receipts increased by 3.7% to A$30.7 million due to timing of Maari oil liftings.
  • Operating cash flow decreased by A$1.8 million to A$12.5 million due to higher production costs.
  • Echelon paid a total dividend of A$3.5 million, with A$1.7 million to Echelon shareholders.
  • Cue Energy Resources contributed A$9.1 million to the cash balance.
  • Development activities at Mahato continued with costs in line with the previous quarter.
  • Gas sales agreement signed with McArthur River Mines to sell locally in NT.
  • Two new wells drilled at Mahato added 2,000 barrels per day.
  • Production volumes decreased by 2.6% due to natural declines and operational activities.
  • Mereenie gas production and reserves upgrade exceeded expectations.
  • Significant planning and approvals progress for unlocking EP145.
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.