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Metgasco Ltd ( (AU:MEL) ) has issued an update.
Metgasco Ltd has entered into a conditional agreement to sell its 25% interest in the Odin and Vali Gas Fields to Vintage Energy Ltd. The transaction, valued at $5.9 million, is contingent upon Vintage securing necessary funding and completing a purchase of Bridgeport’s interest in the fields. This sale marks a significant shift in Metgasco’s operations, potentially impacting its market focus and stakeholder engagements. The completion of the transaction is subject to various approvals and conditions, including shareholder and ministerial consents.
More about Metgasco Ltd
Metgasco Ltd operates in the energy sector, focusing on gas production. The company holds interests in gas fields within the Cooper Eromanga Basin, specifically the Odin and Vali Gas Fields, and is involved in joint ventures with other energy firms.
Current Market Cap: A$3.67M
Learn more about MEL stock on TipRanks’ Stock Analysis page.