June 22 (Reuters) - Metgasco Ltd (MEL) : PRODUCTION FROM VALI...

June 22 (Reuters) - Metgasco Ltd (MEL) :

• PRODUCTION FROM VALI GAS FIELD RESUMED ON 8 JUNE AFTER HAVING BEEN SHUT-IN SINCE 22 MAY
• VALI-1 PRODUCTION HAS BEEN CONSISTENT WITH PERFORMANCE PRIOR TO SHUT-IN, AVERAGING PRODUCTION OF 3.6 MMSCFD SINCE RESUMPTION
• WORK PROGRAMS TO ESTABLISH STABLE GAS PRODUCTION FROM VALI-2 AND VALI-3 AFFECTED BY ROLLING ROAD CLOSURES BROUGHT BY RECENT RAINFALL
• ROAD CLOSURES HAVE IMPACTED OPERATIONS ACROSS COOPER BASIN AND PREVENTED ACCESS TO SITE
• AT VALI-2, FLUID REMOVAL IS ONGOING AND AWAITING DELIVERY OF EQUIPMENT TO ACCELERATE PROCESS
• OPERATIONS AT VALI-3 ARE SCHEDULED TO OCCUR FOLLOWING WORK AT VALI-2
• ESTABLISHMENT OF STABLE GAS PRODUCTION FROM VALI-2 AND VALI-3 NOW MOST LIKELY TO OCCUR SUBSEQUENT TO 30 JUNE