The energy crisis currently afflicting the eastern part of Australia and more particularly, the natural gas supply crisis, have been the catalysts for the creation of Vintage Energy Ltd ("Vintage"), with Reg Nelson (former Managing Director, Beach Energy Ltd) as Chairman and Neil Gibbins (former Chief Operating Officer, Beach Energy Ltd) as Managing Director. The Company has already acquired a portfolio of excellent gas exploration tenements in onshore Australia that are close to infrastructure and have the potential for rapid development and early cash flow.
Oil potential in prominent onshore basins is also a key focus, particularly given the experience of Vintage team members in discovering and developing oil fields on the Western Flank of the Cooper-Eromanga Basins in South Australia.
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