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Metgasco Ltd ( (AU:MEL) ) has issued an announcement.
Metgasco Limited reported a modest quarterly profit for the quarter ending March 2025, driven by successful surface pressure debottlenecking and cost control measures. The company also resolved gas metering issues, which had previously under-reported production levels. Despite a decline in sales revenue due to lower gas production and the absence of LPG liftings, Metgasco is optimistic about future production enhancements. A joint venture production uplift program targeting increased gas production at the Vali and Odin wells is expected to improve sales and cash generation, although recent flooding has delayed its implementation. The renewal of the ATP2021 licence for six years post-quarter end is seen as a positive development, allowing further exploration of oil and gas opportunities.
More about Metgasco Ltd
Metgasco Limited is an oil and gas explorer and producer, focusing on the exploration and production of natural gas and associated products. The company operates primarily in the Cooper Basin, with key assets including the Vali and Odin gas fields.
Current Market Cap: A$4.37M
For detailed information about MEL stock, go to TipRanks’ Stock Analysis page.