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) provides an update on the Albany-2 well, located in the Galilee Basin, as part of the Galilee Basin Deeps JV (“GBDJV”) with Comet Ridge Ltd (“Comet Ridge”, ASX: COI). As detailed in the ASX release dated 10 September 2019, the Albany-2 well reached a total depth of 2,702 metres on 6 September. Recent fishing operations to retrieve the logging tool down the wellbore resulted in the partial recovery of the tool string, with the remainder to be left below the casing. Casing is now being run and expected to be completed over the coming days.
More infoVintage Energy Ltd (“Vintage”, ASX: VEN) provides an update on the Albany-2 well, located in the Galilee Basin, as part of the Galilee Basin Deeps JV (“GBDJV”) with Comet Ridge Ltd (“Comet Ridge”, ASX: COI). As detailed in the ASX release dated 10 September 2019, the Albany-2 well reached a total depth of 2,702 metres on 6 September. Initial logging analyses indicated the presence of gas in the target reservoir, with logging operations over the past week recording pressure measurements before being interrupted by the tool getting stuck down the hole. The operator is undertaking fishing operations to retrieve the tool, which is expected to be completed over the coming days.
Equipment is currently being moved from the Albany-2 site to the Albany-1 site, however, the rig will not be mobilised until the completion of the fishing operation. As a result, we anticipate that the rig will be onsite at Albany-1 late next week to commence the side-track, Albany-1 ST1.
More infoVintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to provide an update on the Albany-2 well, located in the Galilee Basin, as part of the Galilee Basin Deeps JV (“GBDJV”) with Comet Ridge Ltd (“Comet Ridge”, ASX: COI). The well reached a total depth of 2,702 metres on 6 September, with logging runs and pressure measurements now being undertaken in the well. Quick-look log analyses have indicated the presence of gas and subsequent pressure measurements are being undertaken downhole in the Lake Galilee Sandstone reservoir section. Upon the completion of the logging work, we are expecting to run casing that will set the Albany-2 well up for stimulation and flow testing.
More infoVintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to provide an update on the drilling and coring of the Albany-2 well, located in the Galilee Basin, as part of the Galilee Basin Deeps JV (“GBDJV”) with Comet Ridge Ltd (“Comet Ridge”, ASX: COI). The joint venture decided that enough representative core has been recovered, with the coring of the well now complete. Albany-2 is drilling ahead at 2,605 metres in the lower Lake Galilee Sandstone reservoir section. Planned total depth of the well remains at 2,752 metres.
A total of 62 metres of predominantly sandstone core has been cut and recovered, with gas shows being observed. The core is being transported to a Brisbane laboratory where it will be analysed, which, together with electric logging data (acquired once total depth has been reached), will guide the planning and execution of the reservoir stimulations and testing later this year.
Vintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to advise that the Galilee Basin Deeps JV (“GBDJV”) has reached the pre-determined Stage 2 funding point of $10 million (gross), which has triggered an increase in Vintage’s equity in the GBDJV from 15% to 30%. Vintage was contributing to Stage 2 costs on a 50:50 basis, with the funding contribution for the joint venture to now be incurred in line with the GBDJV interests, which is Vintage 30% and Comet Ridge Ltd (“Comet Ridge”, ASX: COI) 70%. As a result of this, Vintage has doubled its resources in the Albany Field .
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