Mentioned:
A publicly traded company in Canada is making new natural gas discoveries in Colombia. And it might just be the very beginning.
What’s happening:
- NG Energy (TSXV: GASX) has successfully made a new natural gas discovery at their Hechicero-1X exploration well on their Sinu-9 block located in Colombia
Why it matters:
- The new natural gas discovery at Hechicero-1X hit multiple gas bearing zones including their main target as well as two entirely new formations
Going deeper:
- NG Energy has publicly stated they will now mobilize drilling rigs to Magico-2X which is the second well of their existing six well exploration program at their Sinu-9 block
- NG Energy previously made waves when they struck a major deal with French oil and gas company Maurel & Prom for a 40% operating interest in their flagship Sinu-9 natural gas well in exchange for $150M USD
The intrigue:
- NG Energy has also publicly stated they have been approved to list on the Toronto Stock Exchange and have received $7.4M CAD in new capital from warrant and option exercises
