MEL 0.00% 0.5¢ metgasco ltd

Ann: MEL Investor Presentation June 2024, page-14

  1. 6,530 Posts.
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    Good stuff OG. On paper that puts the current quarter at around $400k revenue, before a jump to over $1m once O2 is online...noting that there will be a misalignment with receipts v production due to a receipt lag. Big extra is a flagged recompletion of O1 - surely 1-2mmmscfd there? Plus the unknown of V2 remediation that was also flagged.

    Feels like if we can get through the next quarter on the back of placement/SPP funds then we're truly away. Assuming that there will also be a lag in work being performed and then paid for - 60 days? - that will really smooth the cashflow. If they can have four wells on production it really creates a solid production floor if all wells can exhibit a profile like these two....would basically equate to last quarter revenue being a minimum going forward. Maybe I'm being too simplistic?

    I've gone in for the maximum and picked up a few on market this week. There's clearly risk there, but the upside is compelling IMHO.
 
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