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 that it has executed a term sheet with a 90 day exclusivity period to negotiate a binding farm-in agreement for PRL 211 on the South Australian side of the Cooper/Eromanga Basins. Under the proposed joint venture, Vintage will become the operator with 42.5%, Bridgeport will have 21.25%, Metgasco Ltd (“Metgasco”, ASX: MEL) 21.25% and a subsidiary of Senex Energy Ltd (“Senex”) 15%, with Senex to be free carried through the drilling of the first well. PRL 211 is a 98.49 km2 retention licence that is close to infrastructure and has an initial five-year term expiring in October 2022, with an option to renew the permit for a further five years. The licence is located immediately adjacent to ATP 2021 (Vintage 50% and Operator). Senex is currently the operator and 100% interest holder of PRL 211.More info
Vintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to announce that Easternwell is in the process of mobilising the Rig 106 to the Nangwarry-1 well location in PEL 155 in the onshore Otway Basin (South Australia). The operator of the Otway Basin Joint Venture (PEL 155, Vintage 50%), Otway Energy Pty Ltd, advised that the well is expected to spud on or around 1 December 2019.
In relation to the Bonaparte Basin permit EP 126, Vintage advises that the EP 126 Farm-in agreement with Firetail Energy Services Pty Ltd, for 10% equity, including the Joint Operating Agreement, has been executed on terms as per the binding Heads of Agreement signed earlier this year (refer ASX release 8 May 2019).
Vintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to announce that it has signed a binding term sheet to farm-in for 30% of the Cervantes oil prospect with Metgasco Ltd (“Metgasco” ASX: MEL, 30%) and RCMA Australia Pty Ltd (“Jade”, 40% and free carry). To give effect to the term sheet, Jade is preparing a farm-out agreement for the Cervantes Joint Venture, with a planned execution date prior to 18 December 2019. The Joint Venture is targeting to spud a well in Q1 FY21 and has an option to drill a second well into a separate prospect. The Cervantes prospect sits within L14, a 39.8 km2 Perth Basin production license granted over the Jingemia oilfield and surrounds. The license is in good standing and not due to expire until June 2025.More info
As operator for ATP 2021, Vintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to announce that on 8 November 2019, a rig contract with Saxon Energy Services Ltd (“Schlumberger Land Rigs”) was signed for the use of the SLR-185 rig to drill Vali-1. The rig is a 1250 HP rig that is capable of drilling to 3,500 metres and is currently working for Senex Energy Ltd (“Senex”). On completion of the Senex program, the rig will relocate to ATP 2021 to drill Vali-1 in mid-December 2019. Safe operating is a key priority of Schlumberger Land Rigs.More info
A highly successful, two well, appraisal drilling program on the Albany Gas Field in the Galilee Basin in Queensland will shortly be followed by a stimulation and gas flow testing program to determine the commercial potential of the field.
With the drilling of the Albany-2 and Albany-1 ST1 wells now complete, Vintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to provide a detailed overview of the substantial progress made to date in the Albany Field appraisal program.