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Metgasco Ltd ( (AU:MEL) ) has issued an update.
Vintage Energy Limited, an operator in the gas industry, has announced a significant move to reform its Southern Flank joint ventures by acquiring Metgasco’s 25% stakes in ATP 2021 and PRL 211. This strategic acquisition aims to accelerate value creation from the Vali and Odin gas fields, which hold substantial uncontracted gas reserves. Vintage is also considering acquiring Bridgeport’s 25% stakes in the same joint ventures, with plans to introduce new joint venture partners or raise equity capital to fund these transactions. The initiative is expected to enhance Vintage’s market position and operational focus on production and economic returns.
More about Metgasco Ltd
Current Market Cap: A$3.67M
See more data about MEL stock on TipRanks’ Stock Analysis page.