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NG ENERGY PROVIDES 2022 YEAR IN REVIEW AND 2023 OUTLOOK
NG ENERGY PROVIDES 2022 YEAR IN REVIEW AND 2023 OUTLOOK Canada NewsWire VAN...
About this update from Ng Energy International Corp
[{"type":"text","content":"\n \n \n \n NG ENERGY PROVIDES 2022 YEAR IN REVIEW AND 2023 OUTLOOK\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Jan. 3, 2023\n \n \n /CNW/ -\n \n NG Energy International Corp. (\"NGE\" or the \"Company\")\n \n (TSXV: GASX) (OTCQX: GASXF) is pleased to provide a 2022 'Year in Review' and its operational road map for the year ahead. 2022 was a transformational year for the Company's operations in\n \n Colombia\n \n as Maria Conchita was put into production and the Company drilled, tested and completed two successful exploration wells at its flagship block, SINU-9. In 2023, the Company will be focused on securing an infrastructure partner at SINU-9 to begin monetizing the field, as well as increasing reserves and resources through further drilling. Another well will be drilled at Maria Conchita to increase production with the goal of filling pipeline capacity at 20 million standard cubic feet per day (MMSCF/d).\n \n \n \n Key Accomplishments in 2022:\n \n \n \n \n In January, the Company announced completion of gas plant facilities at the Maria Conchita block.\n \n \n In February, the Company was recognized in the TSX Venture 50 for the second year in a row.\n \n \n In March, the Company announced light crude oil prospective resources in the western region of the SINU-9 block with a best estimate recoverable resource of 280 MMboe.\n \n \n In May, the Company announced spudding of the Magico-1X well, the first target at SINU-9, and closed a fully marketed prospective financing for aggregate gross proceeds of\n \n $17,047,000\n \n .\n \n \n In July, the Company announced a gas discovery at Magico-1X in the Ciénaga de\n \n Oro\n \n formation.\n \n \n In August, the Company commenced gas production from Maria Conchita and provided flow testing from Magico-1X with three zones testing 15 MMSCFD at the SINU-9 block.\n \n \n In September, the Company provided updated reserves and resources results from the Magico-1x well, adding gross 3P undeveloped reserves of 36.2 BCF, and announced spud...