Horizon Oil Limited ( (AU:HZN) ) just unveiled an announcement.
Echelon Resources Limited announced that its conditional Gas Sales Agreement with Arafura Rare Earths has lapsed due to unmet conditions. The company, part of the Mereenie Joint Venture, plans to re-market the gas while maintaining a positive relationship with Arafura. This decision reflects a strategic shift to ensure production and development certainty, potentially impacting stakeholders by redirecting focus and resources.
More about Horizon Oil Limited
Echelon Resources Limited, trading as Echelon (ASX:ECH), is an energy commodity exploration and production company focused on Australasia. Headquartered in Wellington, New Zealand, the company is committed to ethical development and exploration activities, maintaining strong ESG standards. Echelon’s portfolio includes onshore and offshore oil and gas assets in Australia, New Zealand, and Indonesia, either directly or through its stake in Cue Energy Resources Limited (ASX:CUE).
YTD Price Performance: 30.0%
Average Trading Volume: 27,335
Technical Sentiment Signal: Sell
Current Market Cap: $205.8M
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