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NuEnergy Gas Limited (ASX:NGY)

ALERT: Price-sensitive ASX Announcement for NGY
Current share price for NGY : $0.045 0.007 (18.42%)+
Announcement
Release
28 Apr 2026 2:27PM
Price at Release
$0.038
Full Release
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Summary
NuEnergy Gas Limited's quarterly report for March 2026 highlights the progression of its Early Gas Sales Initiative (EGSI) at the Tanjung Enim Production Sharing Contract (PSC) in South Sumatra, Indonesia. The company completed the drilling of four production wells and executed a binding Gas Sales and Purchase Agreement with PT Perusahaan Gas Negara for the sale of 1 million standard cubic feet per day of natural gas. Construction of the Early Production Facilities is set to begin in April 2026. A collaboration agreement with PT Beijing Energy Linking appoints them as the lead contractor for engineering, procurement, construction, and commissioning. Dynamic subsurface simulations are underway to optimize gas production strategies, potentially reducing the number of required wells and enhancing capital efficiency. First gas sales are anticipated in the first quarter of the financial year 2027, despite delays due to weather affecting construction. The company is focused on transitioning its coal bed methane assets from exploration to development to establish a sustainable clean energy supply in Indonesia.
Key Points
  • Progress on Tanjung Enim Early Gas Sales Initiative (EGSI) continues.
  • Gas flow ramps up in production wells for EGSI; dewatering ongoing.
  • Construction of Early Production Facilities to commence in April 2026.
  • Collaboration Agreement with PT BJEL for development and financing.
  • First gas sales now expected in Q1 FY27 due to weather-related delays.
  • Dynamic subsurface simulation to reduce production wells and cost.
  • Binding Gas Sales and Purchase Agreement with PT Perusahaan Gas Negara.
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.