• Odin and Vali gas fields maintain solid production performance
• Production Uplift Program initiated to moderate natural decline
• Partially underwritten entitlement offer raises $750,000 for Uplift Program
• Cash balance at end of quarter $1.12 million

Metgasco Ltd reported solid gas production performance from its Odin and Vali fields in the June 2025 quarter. Odin field average gross raw gas production was 2.33 MMscfd, while Vali field averaged 0.76 MMscfd. Total raw gas production in May reached 100 MMscf, the highest since January 2025. The company initiated a Production Uplift Program in late July to help moderate the natural production decline, including measures such as back pressure reduction, cycling Odin-2, and instrumentation reliability improvements. Sales revenue for the quarter was $591,550, down 4% from the prior quarter due to lower gas production and absence of LPG liftings. Metgasco's share of total production for the quarter was 0.05 PJe, compared to 0.055 PJe in the prior quarter. The company raised approximately $750,000 (before costs) through a partially underwritten non-renounceable entitlement offer, with the funds to be used for the Production Uplift Program and working capital. Metgasco ended the quarter with a cash balance of $1,118,293.

The company expects the Production Uplift Program to add to the bottom line during the September 2025 quarter.