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Metgasco Limited (ASX:MEL)

ALERT: Price-sensitive ASX Announcement for MEL
Current share price for MEL : $0.012 0.01 (500%)+
Announcement
Release
1 Sep 2025 10:57AM
Price at Release
$0.002
Full Release
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Summary
The Interim Production Uplift Program results for Vintage Energy Ltd, along with its joint venture partners Metgasco Ltd and Bridgeport (Cooper Basin) Pty Ltd, focused on the Odin and Vali gas fields, were announced. The program, initiated after access was re-established post-Cooper Basin flooding, is conducted in two phases. The first phase identified significant scale accumulation, particularly at Odin-1 and Odin-2 wells, which was successfully treated. This phase confirmed the presence of scale across multiple facilities and emphasized the importance of scale removal for enhancing production. Odin-1 returned to production with an increased flow rate post-treatment, despite higher downstream pressures. Odin-2 also demonstrated improved performance following chemical treatment. The second phase, expected to commence in September, will address further scale management and production optimization at the Vali fields. This program is reported to be within budget and initial results have been positive, indicating a potential for further production uplift.
Key Points
  • Interim Production Uplift Program initiated in July post-Cooper Basin flooding.
  • Phase 1 completed; significant scale accumulation found and treated at Odin wells.
  • Odin-1 and Odin-2 show improved production rates after treatment.
  • Phase 2 to commence in September, focusing on further scale management.
  • Cash balance at $1.9 million as of June 30, 2025, with capex in line with budget.
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.