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Mineral Resources Ltd (ASX: MIN) shares are trading flat on Monday morning.
At the time of writing, the mining and mining services company’s shares are changing hands for $38.22.
Why are Mineral Resources shares flat?
The company’s shares are unmoved today despite some big news relating to its energy operations.
According to the release, Mineral Resources has announced the maiden resources for the Lockyer Gas Project and the Erregulla Oil Project. These are both located on exploration permits (EP) 368 and 426, approximately 300 kilometres north of Perth.
They are part of Mineral Resources’ 100%-owned onshore Perth Basin oil and gas acreage, which has been the subject of extensive exploration investment since the Lockyer Deep-1 (LD-1) discovery in 2021.
Lockyer Gas Project
Mineral Resources revealed that the Lockyer Gas Project has a maiden 2C contingent gas resource of 435 petajoule (PJ) sales gas, with…
