MEL 0.00% 0.5¢ metgasco ltd

Ann: Half Year Financial Report Dec 23, page-6

  1. 485 Posts.
    lightbulb Created with Sketch. 26
    Interesting to note committed expenditure for exploration and evaluation for their leases. This is $1.5 million expected (roughly amount they are desiring from the remainder of the KBC loan); this value was $1.34 million @ 30th June 2023.

    Also note VENs same committed value is $3.4 million (however they have numerous more exploration leases).

    Is the rough cost of 1 well $6 million (i.e. $1.5 M net to MEL and also about $3 million net to VEN)? Maybe Odin 2 well announcement is near?

    https://hotcopper.com.au/data/attachments/6034/6034106-ca142b425f823eba8dd4e516cd11ed02.jpg
 
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