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Metgasco Limited (ASX:MEL)
ALERT: Price-sensitive ASX Announcement for MEL
Current share price for MEL : $0.014 -0.009 (-39.13%)+
Announcement
Release
20 Feb 2026 3:13PM
Price at Release
$0.023
Full Release
Summary
Vintage Energy Ltd, along with its joint venture partners Metgasco Ltd and Bridgeport (Cooper Basin) Pty Ltd, has been awarded up to $5 million in grants by the South Australian government for their Southern Flank gas projects. The grants are part of the SA Gas Incentive Grant program aimed at supporting high-quality gas projects. These funds will cover up to 50% of the costs for drilling two new gas wells, Odin-3 and Vali-4, which are intended to enhance gas supply for electricity generation. The wells are scheduled to be drilled in the September quarter of 2026, contingent on the signing of grant agreements and securing necessary equipment and financing.
Key Points
- $5M in grants announced for Southern Flank gas projects.
- Grants cover up to 50% of drilling costs for two wells.
- Projects include Odin-3 and Vali-4 wells.
- Wells aim to increase gas supply for electricity in South Australia.
- Grants part of SA Gas Incentive Grant program.
- Scheduled drilling in September 2026 subject to agreements.
- Joint venture includes Vintage Energy, Metgasco Ltd, and Bridgeport.
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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