Past year: ▲ 850%(0.20c – 3.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Oct 2023production update● Neutral
Metgasco relays Vintage: Vali-2's water comes from its two lowest Patchawarra zones, and a plug is planned for early November. Vali and Odin are shut in until about 4 November for third-party maintenance. Odin has averaged 5.4 MMscfd. Metgasco says it is funded for the plug.
10 Oct 2023agm notice● Neutral
AGM set for 28 November 2023, with director nominations closing 17 October 2023. Administrative only.
5 Oct 2023material agreement▲ GoodMajor
Metgasco confirms a second Odin gas contract with Pelican Point Power, covering 1 January 2025 to 31 December 2026. This extends the 15 May 2023 deal, which ran to December 2024. It supports assessing further Odin appraisal wells.
5 Oct 2023material agreement▲ GoodMajor
Vintage reports a new two-year gas sale to Pelican Point Power for 1 January 2025 to 31 December 2026, extending Odin's contracted supply from start-up to end 2026. It is interruptible supply of all Odin gas, at prices in line with market expectations.
29 Sept 2023annual report● Neutral
Appendix 4G governance checklist for the year to 30 June 2023, pointing to the corporate governance statement on the company website. Administrative, with no operating or financial news.
29 Sept 2023annual report● Neutral
2023 annual report: Metgasco went from explorer to gas producer with Vali first gas (Feb 2023) and Odin (14 Sep 2023, after year end). It cites the A$5m debt facility, and remedying Vali-2 and Vali-3 problems. The chair acknowledges disappointing share price performance.
20 Sept 2023production update▲ Good
Metgasco says Odin-1 is performing in line with or modestly ahead of its pre-commissioning expectations. It expects Odin to be material to its revenues, with further guidance to come. No new figures beyond the operator's update.
20 Sept 2023well test result▲ Good
Vintage says Odin-1 has averaged 6.0 MMscfd since 15 September, slightly above the targeted initial rate, with negligible water. The rate is held back to protect the well's pipe connection. The well flowed 6.5 MMscfd on test in 2021.
14 Sept 2023production update▲ GoodMajor
Metgasco confirms Odin-1 started producing on 14 September 2023, 10 months after the JV chose to accelerate the connection. It is Metgasco's second revenue stream after Vali, supplying Pelican Point Power to end 2024. Metgasco intends to add production via future drilling.
14 Sept 2023production update▲ GoodMajor
Vintage reports Odin began producing gas on 14 September 2023, on schedule, supplying Pelican Point Power to end 2024. This is the second field online after Vali in February 2023. Odin 2C is 40 PJ gross; the JV is exempt from the gas price cap.
11 Sept 2023production update▼ Bad
Operator Vintage says Odin has regulator approval to commission, with start-up still due in September. Vali-3 could not be restarted despite repeated fluid removal and will stay shut in while remedies are assessed, including the Patchawarra formation. Vali-2 log interpretation is expected this month.
11 Sept 2023production update▼ Bad
Metgasco relays Vintage's 11 September update: Odin commissioning this week, Vali-3 shut in after fluid removal failed, and Vali-2 log interpretation due this month. Metgasco says it remains fully funded for the Odin tie-in.
6 Sept 2023investor presentation● Neutral
Conference presentation repeats known figures: Vali 2P 101 PJ gross (25.2 PJ net), Odin 2C 39.7 PJ gross (9.55 PJ net), and Odin first gas this quarter. No new facts in the visible text.
1 Sept 2023production update● Neutral
Metgasco relays Vintage: Odin site works on schedule with commissioning due in September. Vali-1 performs as expected. Vali-2 production log is done and data is being interpreted. Vali-3 needs more swabbing before restart. Metgasco says it is fully funded for the Odin tie-in.
1 Sept 2023production update● Neutral
Vintage says Odin is on track to start producing in September 2023, with final equipment arriving and commissioning near. Vali-2 work is finished and data is being interpreted. Vali-3 still needs more swabbing, so its stable output remains delayed. Vali-1 continues as expected.
22 Aug 2023investor presentation● Neutral
SPE WA presentation recounts Metgasco's path from the 2016 licence applications to Vali first gas in February 2023. Repeats Vali 2P of 101 PJ gross (25.2 PJ net) and Odin 2C of 39.7 PJ gross, and says Odin tie-in is due this quarter. No new facts.
2 Aug 2023admin correction● Neutral
Addendum to the June quarterly report confirming that payments to related parties in the Appendix 5B were A$121,000, all director remuneration. Administrative only.
31 July 2023production update▼ Bad
Vintage reports Odin site works began 23 July and the flowline passed its hydrotest, with start-up on track for September. Vali-2 produced more water than gas and is shut in. Vali-3 has been offline for all but 4 days since March, restart expected late August.
31 July 2023production update▼ Bad
Metgasco relays Vintage's update: Odin works are on schedule for first gas before end of September quarter. Vali-2 is shut in with high water output and Vali-3 has produced only 4 days since March, so the Vali remedy is still unresolved. Metgasco says it is fully funded for the Odin tie-in.
31 July 2023quarterly activities report● Neutral
June 2023 quarter: net sales revenue A$292.85k (36.72 TJ net), up from A$179.77k. Vali-1 averaged 3.56 MMscfd while Vali-2 and Vali-3 stayed delayed. ACCC authorisation received, Odin first gas still due in the September quarter, and the A$5m debt facility is said to fund capital needs.
29 June 2023director officer appointment● Neutral
CFO and Company Secretary Victoria McLellan resigns and Sonu Cheema takes both roles from 1 July 2023. He is a company secretary for several ASX-listed oil, gas and mineral exploration companies.
22 June 2023production update▼ Bad
Operator Vintage says Vali-1 resumed on 8 June at 3.6 MMscfd after a shut-in. Road closures from rain push stable Vali-2 and Vali-3 output past 30 June, extending earlier delays. Odin's construction contract goes to Global Engineering and Construction.
22 June 2023production update● Neutral
Metgasco relays Vintage's update: Vali-1 is back at 3.6 MMscfd, and stable Vali-2 and Vali-3 output is now likely after 30 June because of road closures. Odin remains on schedule for Q3 CY23 and Metgasco says it is fully funded for the Odin tie-in.
8 June 2023investor presentation● Neutral
Notice that the Managing Director will present at a ShareCafe small-cap webinar on 9 June 2023. Administrative, with no new company information.
6 June 2023investor presentation● Neutral
Webinar presentation repeats the May deck: Vali 2P 101 PJ gross (25.2 PJ net), Odin 2C 39.7 PJ gross (9.55 PJ net). Share price is A$0.016 and market cap A$17.02m. No new operating results.
5 June 2023investor presentation● Neutral
Notice of an investor webinar on 6 June 2023 with the Managing Director. No new information beyond restating maiden Vali production and the Odin gas sales agreement.
29 May 2023regulatory community update▲ GoodMajor
The ACCC grants the Odin joint venture final authorisation to market gas jointly for five years, with supply contracts of up to 15 years. It replaces the February 2023 interim authorisation and resolves the open request for longer contract terms.
23 May 2023investor presentation● Neutral
Corporate presentation repeats known facts: Vali 2P 101 PJ gross (25.2 PJ net), Odin 2C 39.7 PJ gross (9.55 PJ net). Shows 1,063.9m shares, A$0.72m drawn on the debt facility and cash of A$0.20m at 31 March 2023.
15 May 2023contract award▲ GoodMajor
Operator Vintage announces the first Odin gas contract: Pelican Point Power (ENGIE/Mitsui) will take all Odin gas from start-up to 31 December 2024, interruptible, for up to 17 months. Odin is still on track for first gas in the September 2023 quarter.
15 May 2023contract award▲ Good
Metgasco and its partners sign the first Odin gas sales agreement with Pelican Point Power (ENGIE/Mitsui), covering all Odin gas from start-up to 31 December 2024, interruptible, up to 17 months. First gas is targeted for the September 2023 quarter. Duplicates Vintage's release.
