Monday, April 28, 2025

Latest

NG Energy Sees Exploration Permits Approve Drilling 22 Wells For Sinu-9

NG Energy (TSXV: GASX) this morning has seen the National Authority of Environmental Licenses approve the further development of the firms SINU-9 project. The changes are in connection with the previously approved environmental license for the project.

Under the revised license, the firm will now be able to drill up to 22 wells on the property as well as conduct the related work programs to support such wells, including surface instructure such as roads and drill pads. The expanded license follows a petition made by the company.

Drilling of Sinu-9 is now slated to begin in the northern area of the gas field, rather than at Magico-1x like previously planned. The firm has reportedly elected to modify its drill plan due to the North Area being the most prospective area of the field, with ground infrastructure already in place. The result is less time is required for civil work before drilling can begin.

The first two wells under the fully-funded drill program are to be Hechizo Norte-1 and Hechizo Este-1, for which design planning on civil work has now begun. Drill permits are currently being obtained for the wells, with drilling to begin in the first months of 2022.

The North Area of the Sinu-9 property currently has 51.4 BCF of unrisked contingent resources and 269 BCF of unrisked prospective resources.

NG Energy last traded at $1.71 on the TSX Venture.


FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive has been compensated to provide coverage on this company. The company has been compensated to cover this story on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

Leave a Reply

Video Articles

Bell Q3 Earnings: Massive Impairments. Guidance Cuts. A Mess.

Alamos Gold Q3: Record Revenue & Production Amid Rising Costs

The Junior Mining Market Is Back

Recommended

Germany Looks To Modernize Military Recruitment But Stops Short of Conscription

First Majestic Silver Posts Topline Revenue Of $146.1 Million In Q3 2024

Related News

NG Energy: Beacon Maintains $2.80 Price Target After Sinu-9 Discovery

Yesterday, NG Energy (TSXV: GASX) announced that it had conducted two successful drillstem tests and...

Wednesday, August 3, 2022, 04:29:00 PM

NG Energy Announces Updated Contingent and Prospective Resources

This afternoon NG Energy (TSXV: GASX) released an updated estimate for their flagship project Sinu-9...

Friday, March 19, 2021, 09:17:00 AM

NG Energy Expects Production To Begin By Month End At Maria Conchita

It looks like production is finally set to begin for NG Energy (TSXV: GASX). The...

Thursday, May 5, 2022, 10:08:00 AM

NG Energy Reports Best Estimate Prospective Resources Of 201.1 Million Barrels Of Light Crude Oil At Sinu-9

NG Energy International (TSXV: GASX) investors received a surprise news release last night, with the...

Friday, March 25, 2022, 07:44:21 AM

NG Energy Sees First Well At SINU-9 Test At 15 MMSCF/D From Three Zones

The results are in for NG Energy’s (TSXV: GASX) flow tests of the first well...

Tuesday, August 2, 2022, 11:13:00 AM