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Metgasco Limited (ASX:MEL)

ALERT: Price-sensitive ASX Announcement for MEL
Current share price for MEL : $0.012 0.001 (9.09%)+
Announcement
Release
31 Jul 2026 12:23PM
Price at Release
$0.011
Full Release
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Summary
Metgasco Limited's quarterly activities report for the period ending 30 June 2026 highlights several operational and financial updates. The company is involved in joint ventures for gas fields at Odin and Vali, with contributions to the Odin Gas Field and Vali Gas Field both located in Australia. Production at these sites has faced some operational challenges due to weather and infrastructure issues, resulting in reduced production levels. The company has engaged in financial activities to secure additional funding, including a $5 million grant from the South Australian government to support further drilling, and a bridging loan agreement with Glennon Small Companies. Financially, Metgasco experienced a decrease in sales revenue and production compared to the previous quarter. The company continues to explore potential farm-in and acquisition opportunities to strengthen its asset base and financial position.
Key Points
  • Quarterly activities report for quarter ending 30 June 2026.
  • Operational challenges at Odin and Vali gas fields.
  • Ongoing joint ventures with Vintage Energy Ltd and Bridgeport (Cooper Basin) Pty Ltd.
  • Received $5 million grant from South Australian government for drilling Odin-3 and Vali-4.
  • Engaged in financial activities including a $500,000 bridging loan.
  • Sales revenue decreased by 20% from the previous quarter.
  • Production levels affected by weather and infrastructure delays.
  • Exploring new business opportunities for asset acquisition and farm-in.
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.