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An announcement from Metgasco Ltd ( (AU:MEL) ) is now available.
Metgasco Ltd has announced interim results from the second phase of its Production Uplift Project in the Vali gas field, reporting a total raw gas production of 2.4 MMscfd. The company is encouraged by the initial results from the Toolachee Formation in Vali-2, despite challenges in Vali-1, and anticipates further operations at Vali-3 in November. The ongoing project aims to enhance production rates and assess the potential of the Toolachee Formation, with implications for increased output and operational efficiency.
More about Metgasco Ltd
Metgasco Limited (ASX:MEL) is an onshore Australia-focused oil and gas exploration and production company. It holds 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 exploration to production, generating sales revenue from long-term gas contracts with blue-chip customers, and is exploring opportunities for further growth.
Current Market Cap: A$4.59M
See more data about MEL stock on TipRanks’ Stock Analysis page.