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NG Energy Inks More Long-Term Agreements for Colombia Production

The company has now sold approximately 14.8 million cubic feet per day of production under long-term natural gas sales contracts.

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NG ENERGY ANNOUNCES FINANCING AGREEMENT WITH MACQUARIE GROUP OF UP TO US$100 MILLION INCLUDING US$50 MILLION IN COMMITTED FUNDING

NG Energy International Corp. ("NGE" or the "Company") (TSXV: GASX) (OTCQX: GASXF) is pleased to announce that it has entered into a definitive credit and guarantee agreement (the "Credit Agreement") with Macquarie Group ("Macquarie") for a financing (the "Financing") of up to US$100 million of which US$50 million is committed funding. The Company and its wholly owned subsidiaries, Bochica Investment Holdings Ltd., Pentanova BVI, Ltd. and MKMS Enerji Anonim Sirketi S.A. (collectively, the "Guara

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Colombia: NG Energy announces 551 per cent YOY increase to 3P reserves

Colombia: NG Energy announces 551 per cent YOY increase to 3P reserves
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NG Energy increases Colombian oil, natural gas reserves with new drilling campaign

The updated reserves and resources incorporate the recently drilled Aruchara-3 well at Maria Conchita, which includes the newly encountered section in zone H4 in addition to zones H1 and H2 and finalized plans for construction of infrastructure at Sinu-9.

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NG Energy Conducted Study of the Prospective Resources Based on a P50 Level Could Reach 200 BCF in Maria Conchita and Will Re-enter Instanbul-1 Well in February 2021

Company or NGE ) (TSXV: GASX) (OTC: GASXF) NGE s technical team and external consultants recently finalized a study to evaluate the formations in the Maria Conchita field as a whole. This study is based on the results obtained from the re-entry of Archura-1. The geophysics and petrophysics reinterpretation of the area was focused to determine the resources associated with the different prospective areas that existed and the new areas of the field, with the objective of establishing new locations to be drilled to develop the field and the feasibility of re-entering the existing wells, mainly Istanbul-1, which was drilled in 2018, and Tinka 1, drilled in 1988 and which tested up to 3 MMSCFD.

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