16 January 2020 Vali-1 ST1 Gas Discovery
May holds 20% share in MEL worth about 5% of the Vali-1 ST1 Gas Discovery in real terms
Over 35 metres of interpreted conventional net pay in the Patchawarra formation
Gas also recovered from sands within the Nappamerri Group
Gas shows and potential pay within the Toolachee formation
Oil shows in Birkhead and Westbourne formations
Well to be cased and suspended for future testing, stimulation and production
Metgasco free carried to case and suspend of Vali-1 ST1 with a 25% interest. MAY owns 20% of the share in MEL
The strong results from Vali-1 reinforce Metgasco’s confidence in the prospectivity of ATP2021
This goes well for MAY and builds on the prospects for the year, should see the share price move up substantially over the next few months
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