Energy
Metgasco is an energy company listed in Australia with cash and equity reserves of approximately A$5 mill, is poised for growth and is focussed on exploration and appraisal activities in the Cooper Eromanga and Perth Basins. Metgasco’s current strategy is to deliver shareholder returns from current and new E&P assets/investments and be the partner of choice
Metgasco has recently booked inaugural gas reserves of 8.3PJ net in the ATP2021 Licence in the Cooper Eromanga Basin. Up-to 3 exploration /appraisal wells are planned in 2021 to determine the upside size of the gas reserves in ATP2021 and PRL211 licence. Metgasco expects that first gas production will be achieved from this new production hub in early CY2022 bringing cash revenue to the business.
Metgasco plans to drill a shallow conventional exploration well (Cervantes 1) in late Q2CY2021 in one of the largest undrilled oil opportunities in the Perth Basin with gross P50 OOIP of 35mmbo. This well is in a geological oil trend close to circa recoverable 30mmbo of historical discoveries. Cervantes has a 28% COS is targeting the Kingia sand found in the recent Waitsia and West Erregulla gas discoveries in the Perth Basin. Cervantes can be rapidly commercialised via oil processing facilities within 3km of the exploration well.
Metgasco is presently pursuing new opportunities in the Oil & Gas sector in the onshore Cooper and Perth basins
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