11:48 AM EDT, 10/22/2024 (MT Newswires) -- LNG Energy Group ( LNGNF ) , whose share rose 14% yesterday to emerge from a recent 52-week low, late on Monday provided an operational update on its projects in Venezuela and Colombia.

LNG said it completed about US$14.7 million in repayments of term-loan debt principal, while its Lewis Energy Colombia unit obtained ISO certification and dedicated property to reforestation in advance of its carbon reduction initiatives in Colombia.

The company added that it will use a new natural gas compressor to optimize production and improve reserves life. It will also commence a new oilfield services division.

The company said it expects to issue an update on the reserves to be acquired in Venezuela by the end of the month.

LNG shares price at last look were down $0.01 to $0.15 on the TSX Venture Exchange.

Price: 0.15, Change: -0.01, Percent Change: -6.25