Metgasco Ltd (AU:MEL) has released an update.
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Metgasco Ltd reported successful drilling at the Odin-2 well, promising increased gas production starting September 2024, despite a slight delay due to weather. Quarterly sales revenue dipped by 19% to roughly $544,000, attributed to lower gas production and timing of LPG liftings. The company also raised over $1.6 million through a share placement and a Share Purchase Plan to fund the Odin-2 project.
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