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.