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Metgasco Limited (ASX:MEL)

ALERT: Price-sensitive ASX Announcement for MEL
Current share price for MEL : $0.012 -0.014 (-53.85%)+
Announcement
Release
30 Jan 2026 12:32PM
Price at Release
$0.026
Full Release
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Summary
Metgasco Limited reported its quarterly activities for the period ending December 31, 2025, highlighting a significant transaction to sell 25% interests in its principal gas field licenses for $5.9 million, which was approved by shareholders and is expected to conclude after meeting certain conditions by March 2026. The company faced a decline in production and revenue, with sales revenue decreasing by 13% from the previous quarter. Metgasco conducted a strategic review to enhance liquidity through potential mergers or asset sales. The company closed the quarter with a cash balance of A$194,000 and extended its debt facilities to June 2026, with an outstanding debt of A$6.08 million. Despite negative cash flow from operations, Metgasco is actively seeking new business development opportunities.
Key Points
  • Metgasco entered into a Petroleum Title Sale Agreement to sell its 25% interest in gas field licenses for $5.9 million.
  • The proposed transaction was approved by shareholders and is subject to conditions expected to be satisfied by March 2026.
  • Production from the Odin and Vali gas fields decreased, with revenue for the quarter down by 13% compared to the previous quarter.
  • Metgasco undertook a strategic review to explore merger, asset sales, or other business opportunities to improve liquidity.
  • The company ended the quarter with a cash balance of A$194,000.
  • Metgasco's debt facilities were extended to June 2026, with an outstanding debt of A$6.08 million.
  • Cash flow from operations was negative, and the company plans to review business development opportunities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.