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Metgasco Limited (ASX:MEL)
ALERT: Price-sensitive ASX Announcement for MEL
Current share price for MEL : $0.012 -0.015 (-55.56%)+
Announcement
Release
30 Jan 2026 10:00AM
Price at Release
$0.027
Full Release
Summary
Metgasco Limited announced an alteration to their Petroleum Title Sale Agreement with Vintage Energy Ltd, extending the target date for Vintage's acquisition of Metgasco's 25% interest in the Odin and Vali gas fields to 28 February 2026. This extension affects the commitment date for Vintage, which now carries Metgasco's cash call obligations for February 2026, under an interest-free loan to be forgiven upon transaction completion. If the transaction does not complete, the loan would be repayable within six weeks of the agreement's termination. The completion deadline remains 31 March 2026.
Key Points
- Metgasco extends target date for Vintage acquisition to 28 February 2026.
- Vintage to cover Metgasco's cash call obligations for February 2026.
- Interest-free loan to be forgiven if transaction is completed.
- Loan repayable within six weeks if transaction is not completed.
- Completion deadline remains 31 March 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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