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Vintage Energy Ltd. ( (AU:VEN) ) has issued an announcement.
Metgasco Ltd, along with its partners, reports interim results from the second phase of its Production Uplift Project at the Vali gas field. The project aims to initiate production from the Toolachee Formation, with Vali-2 showing promising gas flow rates. However, Vali-1’s chemical treatment did not yield significant gas flow, necessitating further analysis. Overall, the Southern Flank gas fields are producing a total of 2.4 MMscfd, with Odin contributing the majority. The project remains within budget, and operations at Vali-3 are expected to resume in November.
More about Vintage Energy Ltd.
Metgasco Limited (ASX:MEL) is an onshore Australia-focused oil and gas exploration and production company with a 25% non-operated interest in the Odin and Vali gas fields located in the Southern Flank of the Cooper Eromanga Basin. The company has transitioned from a pure explorer to a producer, generating sales revenue from its Cooper Basin portfolio through long-term contracts with blue-chip gas customers.
Technical Sentiment Signal: Sell
Current Market Cap: A$8.35M
Learn more about VEN stock on TipRanks’ Stock Analysis page.