On August 28, 2024, New Zealand Energy Corp. (TSXV: NZ) made an announcement regarding the filing of its Q2 2024 consolidated financial results and accompanying management discussion and analysis report with Canadian regulatory authorities. These documents can be accessed on the company’s website at www.newzealandenergy.com and on SEDAR at www.sedar.com.
Chairman James Willis provided insights on the second quarter 2024 results, indicating a total comprehensive loss of $2,100,963, with an increase of $2,588,788 in cash held. The company used $1,541,045 in operating activities for the quarter.
Mr. Willis highlighted the focus on the Tariki gas development project, expressing that all necessary items are in place, with drilling scheduled to commence in the second half of September 2024. Additionally, gas processing arrangements and transmission contracts are in place for production and sale post-completion of the Tariki 5 well.
A recent agreement to sell Tariki gas was signed on July 26, 2024, with Genesis Energy Ltd identified as the “Offtaker” in the agreement on August 22, 2024. New Zealand Energy Corp. anticipates fostering a positive long-term relationship with Genesis.
The company urges caution regarding forward-looking statements, as they are subject to various risks and uncertainties beyond its control. Factors such as economic conditions, commodity prices, and operational risks can impact the actual results. The company does not guarantee future results and does not commit to updating forward-looking statements unless required by law.
For more information on the press release, please visit the original version at https://www.newsfilecorp.com/release/221461.
