NSE reported its Q3’24 results and operational update, highlighting expectations for a positive resolution with the Ecuador Government within the next month. Ecuador has been a disappointment for NSE, which is in arbitration proceedings with the government. We currently carry no value for Ecuador; however, the amount owed to NSE by Ecuador is ~US$300mm, meaning even a partial deal offers material upside. The government aims to enhance the oil sector's business-friendliness before the 2025 electi ....
