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 advise that the Albany-2 well, located in the Galilee Basin, spudded on Tuesday 30 July at 7.00am AEST. The planned total depth (TD) of the well is 2752 metres with drilling, coring and logging operations expected to take approximately 31 days. The target zone is the Lake Galilee Sandstone, which is estimated to be 280 metres thick and at a depth of 2,430 metres. A key focus of Albany-2 will be the coring of a number of representative sections of the target reservoir sands and intervening shales. This will provide a better understanding of the reservoir and seal properties and optimise future drilling parameters and the stimulation approach to maximise gas flows from the Albany Field.
More infoThe Northern Territory (“NT”) Government has advised that approximately 50% of the NT could be declared as reserved areas and is currently undertaking a consultation process with those petroleum companies affected by its proposal. Under the proposal, Sites of Conservation Significance (“SOCS”) are one of the catergories of land that will be declared ‘no go zones’ for petroleum exploration and production and be excised from pre-existing and future petroleum licence areas. A considerable portion of the prospective areas within Vintage Energy Ltd’s (“Vintage”, ASX: VEN) EP 126, in the Bonaparte Basin, is affected by the proposed reserved area as SOCS. A submission has been made to the NT Government and clearly outlines Vintage’s view that past, current and future approved land use within the majority of EP 126 are inconsistent with the declaration of a reserved area on the basis of a SOCS.
More infoVintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to announce that the operator of the Otway Basin Joint Venture (PEL 155, Vintage 50%), Otway Energy Pty Ltd (“Otway”), has advised that Easternwell Rig 106 has been secured to drill the Nangwarry-1 well in the Penola Trough, onshore Otway Basin. Beach Energy Ltd (“Beach”) and Otway will demobilise/mobilise the rig from Beach’s location in the Perth Basin in Western Australia to the Nangwarry-1 site following completion of Beach’s Perth Basin drilling activities. The rig has been secured via a rig sharing agreement with Beach. The joint venture anticipates the rig will be available to commence drilling Nangwarry-1 in October/November 2019.
More infoBoardroom.Media CEO, Will Canty speaks to Vintage Energy, Director Ian Howarth, about the company’s plan to bring gas to market. Vintage Energy was formed in during a developing energy and gas supply shortage crisis in the east coast of Australia. These market conditions are fitting for the acquisition of quality assets that can address the energy shortfall in Australia and offer shareholder wealth over a sustainable future.
Vintage Energy Ltd (Vintage, ASX: VEN) is pleased to advise that the ATP 2021 Farm-in Agreement with Metgasco Ltd (Metgasco, ASX: MEL), including the Joint Operating Agreement (“JOA”), has been executed on terms as per the binding Heads of Agreement signed on 22 May 2019. Vintage is initially project managing the planning and drilling of the first well in the joint venture program, with the transfer of the 50% interest in the permit and operatorship to take place once Ministerial approval has been received. Vintage has committed to the following expenditure milestones:
• 65% of the cost of the first well (up to a gross cost of AU$5.3 million); and
• Reimbursement of 65% of past exploration costs ( $527,800 net) or carry Metgasco for their first $527,800 of exploration costs.
Vintage will also fund up to $70,000 of 2D and 3D seismic reprocessing to better define exploration leads in the permit.
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