Business
/C O R R E C T I O N -- NG Energy International Corp./
/C O R R E C T I O N -- NG Energy International Corp./ Canada NewsWire In the n...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n\n \n \n \n /C O R R E C T I O N -- NG Energy International Corp./\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n In the news release, NG ENERGY PROVIDES NATURAL GAS PRODUCTION AND SALES UPDATE, issued\n \n 24-Oct-2023\n \n by NG Energy International Corp. over CNW, we are advised by the company that the pricing units in the third paragraph should be \"per million British thermal units (MMBtu)\" instead of \"per million cubic feet (MMcf)\" as originally issued inadvertently. The complete, corrected release follows:\n \n \n NG ENERGY PROVIDES NATURAL GAS PRODUCTION AND SALES UPDATE\n \n \n \n \n •     Aruchara-3 in process of being tied into existing production facilities\n \n \n \n •     Contracts being negotiated for 3-5 years and approximately 40% increase from previous pricing\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Oct. 24, 2023\n \n \n /CNW/ -\n \n NG Energy International Corp.\n \n (\"\n \n NGE\n \n \" or the \"\n \n Company\n \n \") (TSXV: GASX) (OTCQX: GASXF) is pleased to provide an update on production and natural gas sales.\n \n \n \n \n \n \n \n \n \n Year-to-date, gross natural gas production has averaged 6.85 million standard cubic feet per day (MMscf/d) from the Aruchara-1 well, increasing from an initial base of 4 MMscf/d. Aruchara-3 is in the process of being completed and tied into production facilities at an estimated initial production rate of 15 MMscf/d, increasing to 20 MMscf/d.\n \n \n In\n \n December 2023\n \n , the Company anticipates signing natural gas sales contracts for Maria Conchita with an estimated duration of 3-5 years for production volumes starting at 15 MMscf/d. The Company estimates pricing between US\n \n $7.50\n \n – US\n \n $ 8.00\n \n per million British thermal units (MMBtu) and will provide final details as soon as contracts have been finalized with respective, long-term customers. The Company is encouraged by recent negotiations with organizations at the private and state...