NG Energy International Corp. announced that further to the Company's press release dated December 4, 2023, the Company has signed additional long-term agreements for natural gas sales from the Maria Conchita Block, expanding on its previous commitments with Vanti S. A E.S.P, Gases del Caribe S. A E.S., and entering into additional commitments with GEAM Grupo Energetico de Las Americas S.A.S E.S.P and Empresas Publicas de Medellin E.S.P. With these agreements in place, the Company has now sold approximately 14.8 MMcf/d of production under long-term natural gas sales contracts for a period of 3-5 years, with the balance of production from the Maria Conchita block being sold into the spot market on an interruptible basis. Pricing in the Caribbean coast, specifically in the Ballena Section, for the month of March was USD 8.87 per MMBtu.

Price for the region is up 36.5% from the same time last year, due to the overall economic growth of the region, the demand for natural gas outpacing the supply during this time of El Nino, and the unique characteristics of natural gas as a critical energy source for Colombia.