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Metgasco Limited (ASX:MEL)

ALERT: Price-sensitive ASX Announcement for MEL
Current share price for MEL : $0.015 0.002 (15.38%)+
Announcement
Release
15 Jun 2026 10:05AM
Price at Release
$0.013
Full Release
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Summary
Vintage Energy Ltd, in partnership with Metgasco Ltd and Bridgeport (Cooper Basin) Pty Ltd, has signed agreements to secure $5 million in grants from the South Australian Government. These funds, part of the SA Gas Incentive Grant program, will finance the drilling of two new gas production wells, Odin-3 and Vali-4, in the Southern Flank of the Nappamerri Trough, Cooper Basin. The grants cover 50% of the drilling costs and are expected to enhance gas reserves and supply for electricity generation in South Australia. The project is part of a broader initiative to improve energy security in the region and is expected to bring significant uncontracted gas resources online.
Key Points
  • Agreements signed for $5 million grants.
  • Grants provide 50% funding for drilling two new gas wells.
  • Involves PRL 211 and ATP 2021 joint ventures.
  • Odin-3 and Vali-4 wells to increase gas supply.
  • Part of SA Gas Incentive Grant program.
  • Intended to enhance South Australia's energy security.
  • Project delivery required by 30 September 2028.
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.