30 Sept 2025other● Neutral
Annual corporate governance statement and Appendix 4G, current at 30 September 2025, setting out compliance with ASX governance recommendations. Administrative; no new business information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Sept 2025annual report▼ Bad
FY25 annual report: net production 0.195 PJe and sales revenue about $2.16m, roughly 9% below FY24. Odin-2 performed well below expectations. Year-end 2P gas 35.36 PJ. Joint venture plans to seek farminees for an oil well (Altar) in ATP 2021. Strategic review continues.
10 Sept 2025investor presentation● Neutral
Conference presentation repeating known facts: 25% of Vali and Odin, FY25 sales revenue about $2.3m, 2P reserves 36.5 PJ, Odin scale and the uplift program. Says Vali-2 and Vali-3 are shut in pending uplift work. Nothing new.
1 Sept 2025well test result● Neutral
Metgasco repeats the interim results: scale confirmed at Odin and Vali-2, acid treatment lifted raw gas to 2.9 MMscfd from 2.5. Phase 2 at Vali is expected in September, subject to contractor availability. Duplicates Vintage's release.
1 Sept 2025well test result● NeutralMajor
Vintage's interim uplift results: scale found at Odin-1, Odin-2 and Vali-2, removed by acid at Odin. Raw gas 2.9 MMscf/d versus 2.5 before shut-in. Opening Vali-1's Toolachee zone gave no measurable gas. Program now two phases; phase 2 from September.
31 July 2025quarterly activities report● Neutral
June 2025 quarter: sales revenue $591,550, down 4%; Metgasco's production 0.05 PJe, down 9%. Odin averaged 2.33 MMscfd and Vali 0.76. Cash $1,118,293 after the raise. Uplift program began late July.
17 July 2025drilling scheduled▲ Good
Vintage reports mobilisation for the Production Uplift Program, with work over about six weeks, mostly in August, finishing by early September. Modelled uplift of 2.1-5.6 MMscf/d compares with 3.2 MMscf/d now.
17 June 2025production update▲ Good
Operator Vintage reports May Odin and Vali raw gas of 100 MMscf, up 8% on April, averaging 3.23 MMscf/d. Gains came from operational measures ahead of the uplift program, which is now expected from mid-July.
17 June 2025production update▲ Good
Metgasco repeats Vintage's May result: 100 MMscf raw gas, up 8%, highest since January. States Metgasco is fully funded for the uplift program, which starts mid-July with modelled 2.1-5.6 MMscf/d uplift.
13 June 2025capital raising announcement▲ GoodMajor
Entitlement offer raised about $750,000 at $0.002. Shareholders took up about $498,594 (249.3m shares) and the underwriter will place the roughly 125.4m-share shortfall. Funds the uplift program, now expected to start mid-July. Resolves the open raising.
What it means for a shareholder
249m new shares at about A$0.003 to raise about A$750,000. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held A$1,000 of shares (332,400 at the issue price), your slice goes from 0.0312% to 0.0253% of the company. To keep it you'd need 77,891 more shares - about A$234 at the issue price.
Create a free account to see this worked out for your own holding.
3 June 2025director officer appointment▲ Good
Tom Chapman joins as independent non-executive director. He is a reservoir engineer with over 35 years' experience, formerly with Cairn India and recently consulting to Beach Energy on Cooper Basin projects. Adds technical depth for the uplift program and ATP 2021 exploration.
29 May 2025capital raising announcement● Neutral
Offer closing extended again to 10 June 2025. PAC Partners' maximum underwriting raised again to $436,000 (58.13% of new shares) from $411,000. The text does not give a reason.
22 May 2025capital raising announcement● Neutral
Entitlement offer closing date extended by five business days to 3 June 2025 to give shareholders more time. Still seeking up to $750,000 at $0.002. Results now due 6 June.
16 May 2025capital raising announcement● Neutral
Offer booklet for the non-renounceable entitlement offer: 1 new share for every 3.89 held at $0.002, raising up to about $0.75m, partially underwritten. It is not a prospectus. Details repeat the 9 May announcement.
16 May 2025investor presentation● Neutral
Notice of an investor webinar on 21 May, where the Managing Director will present the Uplift Project and entitlement offer and take questions. Administrative; no new information.
16 May 2025capital raising announcement● Neutral
Offer booklet dispatched; offer open until 27 May. PAC Partners' maximum underwriting raised to $411,000 (54.80%) from $375,000. Glennon's sub-underwriting is unchanged. Shows less reliance on shareholder take-up.
9 May 2025capital raising announcement● NeutralMajor
Metgasco launches a non-renounceable entitlement offer of up to about $750,000 at $0.002 a share (1 for 3.89), 50% underwritten by PAC Partners. Funds mainly pay the roughly $475k uplift program plus $200k working capital. Glennon sub-underwrites and could reach 24.56%.
9 May 2025investor presentation● Neutral
Presentation for the $0.75m entitlement offer, funding the $0.475m Vali and Odin uplift program. Repeats known facts: 25% interest, 36.55 PJe net 2P reserves, over 30 PJ uncontracted. Says enterprise value is $9.9m, or 27 cents per GJe.
30 Apr 2025quarterly activities report● Neutral
March 2025 quarter: sales revenue fell 18% to $618,200 but Metgasco reported a $74,000 quarterly profit. Odin averaged 2.73 MMscfd and Vali 0.81 MMscfd. The production uplift program is approved but delayed by flooding.
28 Apr 2025regulatory community update▲ Good
Metgasco confirms the six-year renewal of ATP 2021 to May 2030, in which it holds 25%. The permit covers Vali and has 23 oil prospects and leads and 3 gas prospects, giving time for more exploration. Duplicates Vintage's release.
28 Apr 2025regulatory community update▲ GoodMajor
Operator Vintage reports Queensland renewed ATP 2021 for six years to May 2030. The permit has 23 oil prospects and leads and 3 gas prospects; Vali and Odin production licence applications are in progress.
14 Apr 2025admin correction● Neutral
Share registry MUFG Corporate Markets moves to a new Sydney office from 14 April 2025. Administrative notice only; phone and postal details are unchanged.
9 Apr 2025investor presentation● Neutral
Presentation on the approved Production Uplift Program, a roughly $0.475m net well intervention targeting 60% to 160% higher raw gas rates, delayed to June by flooding. Repeats the announcement of the same day.
9 Apr 2025drilling scheduled● NeutralMajor
The joint venture approved the Production Uplift Program, modelled to lift raw gas by 2.1 to 5.6 MMscfd, at about $475k net to Metgasco. Flooded roads delay the start to June at the earliest; funding is being considered in the strategic review.
17 Mar 2025production update▲ Good
Operator Vintage reports flowline de-bottlenecking lifted raw gas from Odin and Vali to 3.6 MMscf/d from 3.2. Chemical injection since February is stable, and Vintage considers the Odin metering interference rectified, closing that thread. A production uplift program is planned for April.
17 Mar 2025production update▲ Good
Metgasco repeats Vintage's update: de-bottlenecking lifted raw gas 13% to 3.6 MMscfd from 3.2, and Odin meter scaling is considered rectified. A production uplift program is being finalised for Q2 CY25, subject to joint venture approval.
14 Mar 2025half year report● Neutral
Half-year to 31 Dec 2024 report: Metgasco's share of production was 0.09 PJ, with $1.02m of sales revenue received versus $1.25m a year earlier. Confirms Odin scale problems and metering under-reporting. Largely repeats the quarterly reports.
31 Jan 2025quarterly activities report▲ Good
December 2024 quarter sales revenue rose 105% to about $753,200 as Odin-2 started and Odin-1 averaged 3.1 MMscfd. Odin-2 averaged 1.04 MMscfd and Vali-1 1.01 MMscfd. Scale in the Odin meter had under-measured gas; the strategic review continues.
17 Dec 2024production update● Neutral
Operator Vintage will cut headcount and direct salaries by 41% (about $1.14m a year) in early 2025, and start chemical injection at Odin this week to curb scale. It is also studying ways to lift Vali output. Relevant to Metgasco as a 25% partner.
2 Dec 2024auditor change● Neutral
Metgasco appoints Hall Chadwick as auditor, approved by ASIC, after Grant Thornton resigned. The board cites Hall Chadwick's expertise and competitive fee structure; appointment was also passed at the 2024 AGM.