On 19 April Metgasco announced the execution of the processing agreement with the South Australian Cooper Basin Joint Venture (SACB) allowing the JV to call on AGL to make the first two tranches of the pre-payment totalling $2.5 million (net to Metgasco) as per the terms included in the Vali Gas Sales Agreement (GSA) announced on 23 March CY22.
Metgasco confirms receipt on 3 May of the $2.5 million pre-payment funds from AGL. As per the GSA terms the funds will be applied for the ongoing capital works to bring the Vali field to first gas.
Ken Aitken, Managing Director
Phone: +61 08 6245 0060