Its the change in accounting that has put the spanner in the works for now on Vali.
"From 1 July 2023, production and sales figures include gas produced under contractual agreement towards consideration for processing
and transportation. The financial value of this gas is accounted as non-cash generating sales revenue." Sept Qtrly
On my own cashflows Vali is basically breaking even but none of us will really know until the half year results when will see a P&L. There is a second tranche of pricing which should be better for us but we need to increase production to get to it!
Ann: KBC: Metgasco Ltd Loan, page-56
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