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Metgasco Limited (ASX:MEL)

ALERT: Price-sensitive ASX Announcement for MEL
Current share price for MEL : $0.012 -0.005 (-29.41%)+
Announcement
Release
30 Apr 2026 2:21PM
Price at Release
$0.017
Full Release
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Summary
Metgasco Limited, an Australian oil and gas exploration company, released its quarterly activities and cash flow report for the quarter ended 31 March 2026. During the quarter, Metgasco entered into a conditional agreement to sell its 25% stake in the Odin and Vali Gas Fields to Vintage Energy Limited, which was later terminated. The South Australian government provided $2.5 million grants each for the Odin-3 and Vali-4 wells. The Vali and Odin fields reported average gas production rates of 0.39 MMscfd and 1.48 MMscfd respectively, with a quarterly sales revenue of $367,600, marking a 6% decline from the previous quarter. Metgasco is actively seeking to recapitalise and acquire new assets amid a cash balance of A$253,000 and a total outstanding debt of A$6.3 million.
Key Points
  • Metgasco entered into a conditional Agreement to sell 25% interest in Odin and Vali Gas Fields for $5.9 million, which was later terminated.
  • South Australian government grants $2.5 million each for drilling Odin-3 and Vali-4 wells.
  • The Vali and Odin fields recorded average gas production of 0.39 MMscfd and 1.48 MMscfd respectively.
  • Quarterly sales revenue was $367,600, a 6% decrease from the previous quarter.
  • Metgasco is focused on recapitalising and exploring new business opportunities.
  • Cash balance at the end of the quarter was A$253,000, with a total outstanding debt of A$6.3 million.
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.