New Zealand Oil and gas
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NEW ZEALAND OIL & GAS HALF YEAR RESULT– REVENUE UP 40%

Posted on 28 February 2023

  • Net profit after tax of NZ$7.0 million, after exploration expense
  • Net operating cashflows NZ$14.5 million, up 109%
  • Revenue up 40% year-on-year to NZ$46.1 million
  • Production up 14% year-on-year
  • Palm Valley average daily production rate more than doubled
  • Growth in oil production from Mahato development drilling
  • Continued growth expected from Mahato and Amadeus developments