The operator has stated that all three Vali wells will be hooked up in February. It has also been advised that only a small percentage of the production will be applied to the AGL prepayment so free cash will be generated. The final piece of the puzzle is that Vali production will be at full speed in H2 2023, just as Odin is coming into play. It looks like the perfect storm for a market re-rating for the share price to me.
The cost of production has not been alluded to by VEN nor MEL but we do know that gas prices are at record levels so I do not expect to see anything but good cash flows.
MEL Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
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