Latest Nuenergy Gas (ASX:NGY) News

NuEnergy Gas Limited has initiated drilling site preparation at its Tanjung Enim PSC, progressing towards early gas sales, while securing key commercial agreements and maintaining a strong cash position.

NuEnergy Gas Limited reported a $279,000 net cash outflow from operations in Q4 2024, maintaining a solid cash balance of $4.89 million. The company continues to rely on loans and capital management to fund its coal bed methane exploration activities.

NuEnergy has finalized the Gas Sales and Purchase Agreement for its Tanjung Enim project and is advancing drilling preparations, marking a key step toward production and revenue generation.