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71 回視聴 ・ いいね ・ 2025/05/02

Metgasco (ASX:MEL) Good Vali and Odin Gas production underpins quarterly profit

Oil and gas exploration and production business Metgasco Limited (ASX:MEL) has improved its financial performance during the March quarter of the 2025 financial year after recording solid gas production from its 25% owned Vali and Odin gas fields in the Cooper Eromanga Basin. The company and its partners are now targeting a further boost in production, sales, and cash generation after recently approving a ‘Production Uplift Program’ for the Vali and Odin wells.

🥁 Generates profit following surface pressure de-bottlenecking work which successfully moderated natural gas production decline at Vali-1 and Odin-1 wells
🔥 Odin field average gross raw gas production during the quarter of 2.73 million standard cubic feet per day (MMscfd)
🛢️ Vali field raw gas production of 0.81 MMscfd during the quarter
⚒️ Identifies production optimisation opportunities to increase output at Odin and the adjacent Vali gas field

“I am happy to report an improved financial performance by Metgasco during the March 2025 quarter, with the Company delivering a modest quarterly profit. This profit recovery was attributable to both surface pressure de-bottlenecking work, which successfully moderated the natural gas production decline of Vali-1 and Odin-1, and our focus on controlling joint venture and in-house costs.” - Ken Aitken, Metgasco Managing Director

ASX announcement ⚡ cdn-api.markitdigital.com/apiman-gateway/ASX/asx-r…

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