Metgasco reports June 2026 quarter decline in production and revenue

Metgasco Limited, an Australian oil and gas explorer operating in the Cooper and Eromanga Basins, released its Quarterly Activities Report for the period ending 30 June 2026. Sales revenue fell 20% to US$292,450 and total production dropped 17% to 0.025 PJ‑e, with average raw gas output of 1.29 MMscfd from the Odin field and 0.4 MMscfd from the Vali field.

The company secured a US$5 million grant from the South Australian government and received US$1.25 million of restricted cash earmarked for drilling the Odin‑3 and Vali‑4 appraisal wells. In May, Metgasco obtained a US$500,000 bridging loan at a 10% rate from Glennon Small Companies Ltd and repaid a US$255,000 interest‑free loan to Vintage Energy after ending a petroleum title sales agreement. Existing loans with Glennon Small Companies were extended to 30 December 2026 on unchanged terms. The quarter ended with operating cash of US$366,000 and total cash and cash equivalents of US$1.616 million, including the grant funds.