The key priority for the business is the stimulation and test program on the Vali-1ST1 gas discovery to commercialise the independently certified (refer ASX announcement 3rd March) gross 2C Contingent Resource of 37.7 Bcf (9.4 Bcf net working interest to Metgasco), in late Q2 of this year. The joint venture is currently evaluating how present circumstances may affect this project in terms of regulator approvals, timing, access to personnel and availability of equipment due to Queensland state border closures. A successful testing program will allow the Vali gas field to be commercilised rapidly with anticipated production within a year.
MEL Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
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