MEL on the move.?

Let's hope so as it has been a long time between drinks here.


"Metgasco


Metgasco has submitted a formal tender for a "very attractive opportunity" offered by an Australian state government.

The former New South Wales CSG chaser, which now has interests in Queensland and the US, is also looking at a number of other opportunities in the sector.

The company ended the quarter with a cash balance of $10.2 million and with no debt, with a further $8 million in a fully-drawn down facility offered to Byron Energy. Quarterly repayments from Byron of $1 million are expected to commence in October.

Metgasco, which has triggered its option with Byron to participate in the onshore Bivouac Peak drilling, says that is now not expected until 2018. "