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Monumental Gold ( (TSE:MNRG) ) has provided an announcement.
Monumental Energy Corp. has successfully completed a workover and resumed commercial production at the Copper Moki-2 oil and gas well in New Zealand’s Taranaki Basin. This development is expected to significantly enhance output and provide a substantial revenue opportunity, as the field is now integrated into the gas infrastructure. The company anticipates strong production rates from both Copper Moki-1 and Copper Moki-2 wells, which were previously shut due to mechanical issues. Monumental Energy will receive a 25% royalty on production following the recovery of its initial investment, positioning the company for meaningful near-term cash flow and long-term shareholder value.
More about Monumental Gold
Monumental Energy Corp. is an exploration company focusing on the acquisition, exploration, and development of properties in the critical and clean energy sector, as well as oil and gas projects. The company holds securities of New Zealand Energy Corp. and has agreements related to the Copper Moki wells in New Zealand, along with interests in lithium projects in Chile.
Average Trading Volume: 81,196
Technical Sentiment Signal: Sell
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