AMADEUS BASIN – PALM VALLEY AND DINGO FIELD RESERVES UPGRAD

Thu, 27 Jul 2023

New Zealand Oil & Gas Limited (NZO) and the other Joint Venture partners have announced an upgrade to their reserves in the Palm Valley and Dingo gas fields in the Amadeus Basin, Northern Territory, central Australia.

This has resulted in a 14% increase in 2P Total Reserves at Palm Valley to 2.1 million barrels of oil equivalent (mmboe) and a 13% increase at Dingo to 3.5mmboe.

NZO Chief Executive Andrew Jefferies said the reserves upgrade is significant news for the Company and will provide much needed energy for Central Australia and the East Coast.