Ann: Trading Halt, page-37

Hi cara / stumpy / Access2020 / others,
VALI production, future MEL cashflow

Since MEL have forward sold ~4 years of Vali production to AGL for their share of the $A15 million prepayment to complete Vali construction works, and with the Vali gas throughput through the Santos processing facility probably limited to about 9mmscf/d hydrocarbon gas (I think), what are shareholders views on when Vali cashflow will eventually flow into MEL's bank account i.e. ~4 years after first Vali gas (Dec. 2022) so around Dec 2026?

MEL discuss;

• a 30 year Cooper Basin field life,
• self funding future exploration and production activities,
• delivering dividends to shareholders.

Apologies if this is a dumb question, but I do not know when MEL will start to make money which flows into MEL's bank account and stays there such that dividends can be paid.

I am not including future Odin production and cashflow (FY 2024) in my thinking at this stage - that's a real positive as it may deliver cashflow directly into MEL's bank account earlier than Vali.

I also do not see this latest Capital Raise as the last one, but then my above reasoning may be flawed........

Kind regards OldGeo