New Zealand Oil & Gas Limited [ASX & NZX : NZO] notes the press release by Triangle [ASX : TEG ] attached. The Ventia 106 rig is expected to be released to the L7 Joint Venture in early July and will take approximately 10 days to mobilise to the Booth-1 location. Expected drilling to commence in mid to late July 2024. The Permits’ Joint Venture comprise Triangle [50% & Operator of the L7 permit] , NZO(25%) and Strike Energy Ltd (ASX: STX: 25%).
The kiwi was trading below 60 US cents late Monday in Wellington.
The company’s share price rose 55% after the announcement.
The S&P/NZX 50 Index closed at 12,309.91, down 15.7 points or 0.13%.
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