MEL.ASX: Agreements signed for $5 million grants

Agreements signed for $5 million grants

Stock	Metgasco Ltd (MEL.ASX)
Release Time	15 Jun 2026, 10:05 a.m.
Price Sensitive	Yes

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Metgasco Ltd Receives $5 Million Grants for Gas Projects

Key Points

Agreements signed for $5 million grants
Estimated to fund 50% of drilling costs
Aims to increase gas supply for South Australian energy generators

Full Summary

Vintage Energy Ltd, a 50% interest-holder and Operator of the Southern Flank gas projects PRL 211 and ATP 2021, has executed Grant Agreements with the Government of South Australia for two $2.5 million grants. These grants are expected to provide up to 50% funding for the drilling of Odin-3 and Vali-4 wells in the Southern Flank of the Nappamerri Trough, Cooper Basin. The Odin and Vali gas fields, discovered in 2019 and 2020, currently supply South Australian energy generators ENGIE and AGL. The grants are part of a larger $15 million program aimed at accelerating investment in gas supply projects with delivery required before September 2028.

Outlook

The grants are expected to significantly advance plans to increase gas production and meet future supply needs in South Australia.