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Metgasco Ltd ( (AU:MEL) ) has issued an announcement.
Metgasco Ltd has announced a partially underwritten entitlement offer to raise up to $750,000, aimed at funding a Production Uplift Program. This initiative seeks to increase gas production from the Odin and Vali fields by addressing scale management and expanding production to the Toolachee Formation. The offer allows eligible shareholders to purchase new shares, with funds allocated to production enhancement, working capital, and covering offer costs. The move is expected to bolster Metgasco’s operational capacity and potentially improve its market position.
More about Metgasco Ltd
Metgasco Ltd is a company involved in the energy industry, focusing on gas production and optimization. It operates primarily in the Odin and Vali gas fields, aiming to enhance gas flow rates and cash generation.
Current Market Cap: A$4.37M
For an in-depth examination of MEL stock, go to TipRanks’ Stock Analysis page.