The announcement dated 6/12/21 says ALL gas from Vali will be sold to AGL for 4.5 years. The joint venture can't sell 9 PJ to AGL and the rest to someone else. However, after a certain threshold is reached, AGL should be paying more per GJ. This should be good for MEL.
'Metgasco Ltd (ASX: MEL, “Metgasco”) is pleased to announce a conditional Heads of Agreement (“HoA”) between the ATP 2021 Joint Venture parties (“JV”) and AGL Wholesale Gas Limited (“AGL”) for the sale of all gas produced from the Vali Field from field start-up (mid-CY2022) through to the end of CY2026. This is anticipated to be a minimum of 9 PJ and up to 16 PJ of gross sales gas over the contract term, to be sold on a mix of firm and variable pricing at market rates'
MEL Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)