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NuEnergy Gas Limited (ASX:NGY)

ALERT: Price-sensitive ASX Announcement for NGY
Current share price for NGY : $0.045 0.005 (12.50%)+
Announcement
Release
28 Jul 2026 2:31PM
Price at Release
$0.040
Full Release
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Summary
NuEnergy Gas Limited made significant progress in the development of its Tanjung Enim Project during the quarter ending June 2026. The company focused on strengthening the execution and funding framework for the project and advanced their Early Gas Sales Initiative (EGSI) towards first commercial gas production, targeted for Q1 2027. A US$88 million Field Service Contract was executed with PT Beijing Energy Linking for the development of Tanjung Enim Plan of Development 1 (POD 1). Construction of early production facilities is scheduled to commence in August 2026. Despite weather-related delays, NuEnergy is working closely with partners to complete infrastructure and permitting requirements. The company also updated its dynamic subsurface simulation study to optimize field development, aiming for a more efficient production configuration.
Key Points
  • US$88m Field Service Contract signed with PT Beijing Energy Linking.
  • Tanjung Enim Early Gas Sales Initiative (EGSI) progressing towards Q1 2027 target.
  • Construction of early production facilities to start in August 2026.
  • Dynamic subsurface simulation study updated for efficiency.
  • Focus on infrastructure and permitting to support first gas sales.
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.