NG ENERGY PROVIDES UPDATE ON PIPELINE AND FACILITIES AT MARIA CONCHITA
VANCOUVER, BC, Jan. 4, 2022 /CNW/ – NG Energy International Corp. (“NGE” or the “Company”) (TSXV: GASX) (OTCQX: GASXF) is pleased to announce that the Company has completed all civil works and laid all flow lines to connect the gas plant to the national gas transportation system and is currently completing the consultation process with the communities located in the line of the pipeline, to continue with the completion of the connection to the Transportadora de Gas Internacional (“TGI”) main pipeline..
Assembly of the gas plant will be complete in the coming days, pending the delivery of the Glycol and Dehydration Units which have arrived at the port in Colombia and are awaiting transport to site.
Additionally, approximately 40 meters of flow line will be laid, extending from the limit of the Aruchara-1 platform to the wellhead in order to tie the well in. This will be completed as soon as the Company obtains its amended environmental permit from National Authority of Environmental Licenses (“ANLA”). NGE has submitted all the requested information to ANLA, after their visit to the block at the end of November, and the permit is expected in January.
Upon completion of the pipeline facilities, the Company will work toward converting the Letters of Intent (“LOIs”) currently in place with Trafigura, Empresas Públicas de Medellín (“EPM”) and Vanti Gas into final take or pay contracts for the production from Aruchara-1 providing shareholders with greater certainty around cash flow.
Serafino Iacono, Chief Executive Officer of NGE commented “we want to wish a happy new year to all our supporters, 2021 was a great year for NGE, we are proud of the operational milestones we achieved in spite of persistent logistical difficulties from the pandemic. 2022 will be truly transformative as the Company begins production at Maria Conchita and executes on drilling SINU-9.”
About NG Energy International Corp.
NG Energy International Corp. is a publicly traded E&P company on a mission to provide a clean and sustainable solution to Colombia’s energy needs. The Company intends on executing this mission by producing and bringing gas to the premium priced Colombian gas market from its concessions, SN-9, a 311,353 acres block which is adjacent to Canacol’s Nelson field, as well Maria Conchita, a 32,518-acre block located in the region of La Guajira. NGE’s team has extensive technical expertise and a proven track record of building companies and creating value in South America. For more information, please visit SEDAR (www.sedar.com) and the Company’s website (www.ngenergyintl.com).
Cautionary Statement Regarding Forward-Looking Information
Except for the statements of historical fact, this news release contains “forward-looking information”, within the meaning of applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. Wherever possible, words such as “anticipate,” “believe,” “expects,” “intend” and similar expressions have been used to identify the forward-looking statements. The forward-looking information in this news release includes, but is not limited to, statements regarding the completion of the operations described herein, drilling operations, receipt of governmental permits, licences or approvals, estimations of gas production, completion and installation of the gas pipeline and related plant facilities.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions that include, but are not limited to assumptions about the Company’s ability to complete the planned operations and activities. The Company has also assumed that no significant events will occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. These factors or assumptions are subject to inherent risks and uncertainties surrounding future expectations generally that could cause actual results to differ materially from historical results or results anticipated by the forward-looking statements. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, risks related to the Company’s inability to perform the proposed operations, regulatory approval risk, environmental risk and additional risks or factors set out in the Company’s continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, including the Company’s annual and interim Management Discussion & Analysis.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE NG Energy International Corp.
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