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Metgasco shares soar on news of gas discovery

Metgasco shares soar on news of gas discovery

Metgasco (ASX:MEL) shares soared 51% yesterday to $0.68, after announcing it had discovered a gas deposit in New South Wales.

The company has identified a gas field with an estimated area of closure of 25 square kilometers in its Kingfisher Field site.

“This is the first significant conventional gas discovery in over a century of exploration in the state of NSW,” managing director David Johnson said.

Metcash shares have today fallen 1.47% to $0.67.

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