Welcome to the Vintage Energy investor area where you will find presentations, reports and news that provide updates on the progress of Vintage Energy as it establishes itself as a new and well respected South Australian based gas, oil and energy company.
Vintage Energy Ltd (Vintage, ASX: VEN) is pleased to announce an executed binding Heads of Agreement (HoA) with Metgasco Ltd (Metgasco, ASX: MEL) to become a joint venture partner in the ATP 2021 permit on the Queensland side of the Cooper/Eromanga Basins. The HoA is subject to usual conditions precedent including obtaining ministerial approval and any other necessary consents affecting the permit. These will be sought and agreed prior to signing the farm-in agreement, with both parties using best endeavours to have this undertaken by 30 June 2019. Under the terms of the HoA, Vintage will earn a 50% interest in ATP 2021 through contributing 65% of the cost of the first well (up to a gross cost of AU$5.3 million) and past exploration costs (65% of which is $527,800). Vintage will also fund up to $70,000 of 2D and 3D seismic reprocessing to better define exploration leads in the permit.More info
Vintage Energy Ltd (Vintage, ASX: VEN) is pleased to announce an executed binding Heads of Agreement with Firetail Energy Services Pty Ltd (Firetail) for it to become a joint venture partner in the EP126 permit (onshore Bonaparte Basin, Northern Territory). Under the terms of the agreement, Firetail will earn a 10% interest in EP126 through the provision of $850,000 of services for the testing of Cullen-1, the total cost of which is currently estimated at $3.2 million. This contribution by Firetail, and the formation of the joint venture, places considerable value on the EP126 permit and its exploration potential. Vintage will retain a 90% interest in the permit and operatorship.More info