Metgasco Ltd · ASX:MEL
Metgasco — Corporate Update (April 2025)
12 slides from Metgasco's corporate update, Apr 9, 2025
Slide 1: Production Uplift Program on Odin & Vali
Cooper Eromanga Basin Production Uplift Program on Odin & Vali Odin Field via Odin-1 Vali Field on producing since Sept production via Vali-1 CY23 . Odin-2 online since February CY23 9 April 2025 October CY24
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Ltd (Metgasco) which is current only at the date of this presentation. No representation, express or implied, is made as to the fairness, ac
Slide 3: Production Uplift Program
Production Uplift Program A low cost(circa net $0.475M) well intervention program with potentially transformative production benefit Odin & Vali gas fields currently supply gas under long term contracts Established Gas Production Contracts are valuable but production has been sub-optimal Production
Slide 4: Metgasco Gas fields on production in the Southern Flank
Metgasco Gas fields on production in the Southern Flank Appraisal Production Program via Vali/Odin pipeline connection to Moomba production facility Gas Sold under long term gas supply contracts to Engie and AGL Gas Supply Contracts • Vali 1 gas discovery in 2020 . Vali-2/3 drilled in 2021 • Metgasc
Slide 5: Optimisation Program Rationale
Optimisation Program Rationale Opportunity to double gas production by early Q3 CY25** via low- cost program • Production Uplift Program modelled to offer uplift ranging from 2.1 MMscf/d to 5.6 MMscf/d1 • Immediate impact on production with flow on to cash flow on monthly invoice payment *Anticipate
Slide 6: Odin Scale Removal Opportunity Demonstrated
Odin Scale Removal Opportunity Demonstrated Scale Identified and managed during December quarter 2024 Background • Odin-1 started strong, producing from Epsilon and Toolachee Odin field production reported in ASX quarterly • Rapid decline understood with identification of scale in September 2024 Ave
Slide 7: Odin Scale Impact Demonstrated
Odin Scale Impact Demonstrated Confirmation of scale and initial results at Odin-1 demonstrated impact and production uplift Opportunity Identification and production response Odin-1 daily production rate, raw gas • Scale formation occurs when dissolved minerals precipitate, leaving a residue which
Slide 8: Odin Proposed Production Optimisation Program
Odin Proposed Production Optimisation Program Low Cost Campaign targeting known impediment for immediate production improvement Work Work program objective program Potential uplift and Scale Determine extent of impact- Ongoing increased cash generation investigation from Odin Meter clean Redress met
Slide 9: Vali Addition of Toolachee Production
Vali Addition of Toolachee Production Appraisal of Southern Flank Gas Fields Background • Vali-1 Patchawarra production stable, decline consistent with model • Facilities performing reliably • Vali-2 and Vali-3 yet to establish sustained production Production uplift strategy • Add production from To
Slide 10: Vali Access Toolachee Gas
Vali Access Toolachee Gas Perforated Vali-1 ST1 Toolachee pay zone isolated by movable sleeve between two packers Toolachee Production Improvement Opportunities A B Vali-3 Vali-1 ST1 Vali-2 C 4 Upper Packer 7 8 Sleeve to be opened to allow Toolachee 1 1 gas to flow into 1 1 1 production tubing 1 1 L
Slide 11: Vali Production Optimisation Program
Vali Production Optimisation Program Addition of Toolachee Zone Production and scale impact Investigation Work Work program objective Potential uplift and program increased cash Scale Investigate potential for scale impact at Vali, remediate scale generation from Vali investigation if present • Addi
Slide 12: Contact Info:
Contact Info: Ken Aitken Metgasco Ltd ACN 088 196 383 Managing Director Level 3, 88 William Street Perth, WA 6000 + 61 8 9463 2463 +61 8 9463 2463 ken. aitken @metgasco.com.au info@metgasco.com.au www.metgasco.com.au