NG Energy provides update on production and gas sales at Sinu-9

NG Energy International release

CALGARY, AB, October 11, 2024 – NG Energy International Corp. (“NGE” or the “Company”) (TSXV: GASX) (OTCQX: GASXF) is pleased to announce that, further to the Company's news release dated September 16, 2024, the Company and its partners, Clean Energy Resources S.A.S and Desarrolladora Oleum, and its infrastructure partners, INFRAES S.A.S. E.S.P., Surenergy S.A.S. E.S.P. and Union Temporal Sinu-9, have completed the commissioning of both the early production phase of the first Central Processing Facility (the “CPF-1”) and the 28.3 km pipeline at Sinu-9. The pipeline has been commissioned to between 1,100 – 1,400 PSI, depending on provider requirements.

Additionally, the Ministry of Mines and Energy has approved a resolution for Total Production Available for Sale (“PTDV”) of 29.3 MMcf/d at Sinu-9: 19.5 MMcf/d from the Brujo-1X well and 9.8 MMcf/d from the Magico-1X well. The Company expects production and sales of 10 MMcf/d from the Brujo-1X well to begin imminently as Promigas S.A. E.S.P. is in the final stages of calibrating the Jobo connection point. Once complete, the Company anticipates that production will increase at the Brujo-1X well through October until the end of the year. Additionally, all the necessary pipe to connect the Magico-1X well to the CPF-1 has been laid, with plans to bring the Magico-1X well into production over the coming weeks.

Don Sewell, President and a Director of NGE commented, “Receiving the required approval and imminently bringing production from the Brujo-1X well on-line through the CPF-1 are major milestones for the Company, as it will transform NGE into a profitable business as production ramps up over the coming weeks. Once again, I would like to thank our team, partners and infrastructure partners who have worked tirelessly to make this project a reality. Colombia is in desperate need of more natural gas production and we continue to push to accelerate our development plan at Sinu-9 to address this domestic energy security issue.¹”   

Corporate Update

In connection with the appointment of Mr. Leonardo Chavez as Vice President of Operations on August 26, 2024, he was granted 300,000 restricted share units of the Company, subject to vesting and performance requirements.