New Zealand Energy Corp. Dividend Policy

Source: www.gulfoilandgas.com 4/8/2024, Location: North America

New Zealand Energy Corp. ("NZEC" or the "Company") is pleased to outline its Dividend Policy.

NZEC is in the process of completing its Private Placement. During discussions with investors the Company has emphasized that it aims to be "Dividend oriented".

Funds for dividend(s), and also for growth, is expected to come from gas production from the Tariki-5 development well which will be drilled in August/September 2024. This well is planned to be produced for about 12 months, following which the Company intends to convert the Tariki gas field to a gas storage field. As part of the gas storage project, the Company anticipates storage customer(s) will pre-purchase some of the gas in place.

While Dividend payments are at the discretion of the Board of Directors, in principle the Company will aim to return at least 50% of free cashflow to shareholders while also maintaining a robust balance sheet and meeting all debt obligations.

Good progress has been made with the Private Placement and the Company aims to close the placement fully subscribed on or about April 12, 2024. The Private Placement is subject to approval of the TSX Venture Exchange.


Bermuda >>  6/14/2024 - Paratus Energy Services Ltd. (“Paratus” or the “Company”) hereby gives notice that further to (i) obtaining the Requisite Consent (as defined in the C...
Bermuda >>  6/14/2024 - The shares in Himalaya Shipping Ltd. will be traded on Euronext Expand Oslo ex cash distribution US$0.04 as from today, June 14, 2024. Due to the s...

Canada >>  6/14/2024 - ReGen III Corp. (FSE: PN4) ("ReGen III" or the "Company"), a leading clean technology company commercializing the patented ReGen™ process to upcycle u...
Canada >>  6/14/2024 - Saturn Oil & Gas Inc. has closed its previously announced private placement (the "Offering"), to eligible purchasers under Rule 144A and Regulation S ...

Canada >>  6/14/2024 - Pedro Resources Ltd. ("Pedro" or the "Company") is pleased to confirm, further to its press releases dated May 22, 2024 and March 28, 2024, that it ha...
Canada >>  6/14/2024 - Enterprise Group, Inc. ("Enterprise" or the "Company") announces the voting results of its annual meeting of shareholders held on June 13, 2024. The d...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.