MCF Energy Increases Funding for Welchau-1 Well, Boosting Economic Stake to 25%

MCF Energy Ltd. (ASX: MCF) has increased its funding obligation for the Welchau-1 exploration well from 50% of EUR 3.8 million to 50% of EUR 5.1 million, resulting in an enhanced economic interest from 20% to 25%. Originally, MCF entered an Energy Investment Agreement (EIA) in early 2023 to fund 50% of the well costs, capped at EUR 3.8 million, aiming for a 20% economic interest in the Welchau Investment Area.

However, additional permitting and pre-drill expenses raised the well costs to EUR 5.1 million. Consequently, MCF and ADX modified the EIA terms, with MCF now funding up to EUR 5.1 million for a 25% economic interest. Drilling is set to commence in late January, targeting the Welchau gas prospect with significant resource potential in Upper Austria. The Welchau-1 well aligns with Austria's energy security goals.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com