Exploration & Production | Top Story | Quarterly / Earnings Reports
NZEC Sees Significant Taranaki Asset Growth; Talks Oily Work Program
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New Zealand Energy Corp. has reported the results of its third quarter ended September 30, 2013.
Highlights Financing Closed oversubscribed private placement for gross proceeds of $16.1 million Property Portfolio Completed acquisition of strategic upstream and midstream assets in Taranaki Basin Acquired 50% interest in three petroleum mining licenses (totalling 23,049 acres) in main production fairway Acquired 50% interest in full-cycle high-capacity production facility and associated gathering and sales infrastructure Entered into joint arrangement with L&M Energy to explore, develop and operate the new petroleum mining licenses, production facility and associated assets Booked additional 1,072,350 boe (86% oil) of Proved + Probable reserves with estimated before tax net present…Finish this article — free account or subscription
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