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 a memorandum of understanding (MOU) has been signed with Australia’s largest gas infrastructure company, APA Group (APA, ASX: APA), and Comet Ridge Galilee Pty Ltd (Comet Ridge, ASX: COI).
Under the terms of the MOU, APA will undertake a work program to identify a pipeline route to connect the Galilee Basin in Queensland to Australia’s east coast gas markets. APA’s proposed route to market will also allow for gas to be supplied to the large mining projects planned for the Galilee Basin giving them an alternative to using diesel for their operations. The work program will include on the ground surveys, engaging with local stakeholders, undertaking initial environmental studies and applying for a Pipeline Survey Licence.
Recent local rain events have delayed the movement of the Ensign 932 rig from the Cooper Basin to the Galilee Basin for the drilling of Albany-2 and Albany-1/ST1. Vintage Energy Ltd (Vintage, ASX: VEN) is pleased to advise that the roads are now drying and the operator, Comet Ridge Ltd (Comet Ridge), expects the rig will be mobilised to the Galilee Basin in early to mid- June. Construction of the wellsite pad at Albany-2 recommenced on 7 May and is nearing completion.More info
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
Vintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to report that processing of the recently acquired Koburra 2D seismic data, along with the reprocessing of 619 kilometres of pre-existing 2D seismic data, is underway and is expected to be completed this quarter. Interpretation and mapping of the data will immediately follow. While it is still early in the evaluation process, initial views of the field processed preliminary brute stacks indicate several possible leads in the vicinity of Lake Galilee-1.
The operator, Comet Ridge Ltd, has also advised of strong structural trends on new regional seismic lines in areas where no seismic data has previously been acquired. This is encouraging and may extend the strong area of interest around the Albany and Lake Galilee wells. Further seismic will be required to delineate these new trends.More info
Vintage Energy Ltd (Vintage, ASX: VEN) is pleased to advise that the Galilee Basin Deeps Joint Venture (GBDJV) successfully completed the 336 kilometre 2D Koburra seismic program on 2 March 2019. Vintage currently has 15% of the GBDJV (operator Comet Ridge Ltd 85%) and will increase its equity to 30% upon completion of the seismic program and the drilling of Albany-2 and Albany-1ST1.More info
On 25 January 2019, Vintage Energy Ltd (Vintage, ASX: VEN) received Ministerial consent, the final condition precedent of the Sale and Purchase Agreement between Vintage and subsidiaries of Beach Energy Ltd (Beach) for the acquisition by Vintage of EP 126 in the Bonaparte Basin, Northern Territory. The transaction was successfully completed on 31 January, transferring the title, operatorship and 100% working interest in EP 126 to Vintage. Vintage is now looking forward to working with the Department of Primary Industries and Resources (DPIR), the traditional landowners and all other stakeholders in relation to this prospective tenement.More info
Vintage Energy Ltd (Vintage) is pleased to advise that Comet Ridge Ltd (Comet Ridge), as Operator of the Galilee Basin Deeps Joint Venture (GBDJV, Vintage 15%), has executed a rig contract with Ensign Drilling to secure Rig 932 for the Albany-2 and Albany-1/ST1 drilling program. The program is scheduled to commence in March 2019 once the wet season has finished. The agreement is for two firm wells plus two contingent wells, with the contingent wells dependent upon evaluation of the Koburra 2D seismic program.More info
Vintage Energy Ltd (Vintage) is pleased to advise that acquisition of the Galilee Basin Deeps Joint Venture (GBDJV, Vintage 15%) Koburra 2D seismic program across permits ATP 743, ATP 744 and ATP 1015 is now underway. The program, being undertaken by Terrex Seismic and co-ordinated by Synterra Technologies, commenced on 30 December 2018, after a short delay in mobilisation of equipment due to local heavy rain. The 2D seismic acquisition will focus on identified Lake Galilee Sandstone leads and prospects to mature them to drillable status and regional seismic to investigate highly prospective structural trends with multi-level targets.More info
Vintage Energy Ltd (Vintage) is pleased to announce that documentation has been fully executed for the transfer of a 15% interest in the Galilee Basin Deeps Joint Venture (GBDJV) across ATP 743, ATP 744 and ATP 1015 to Vintage from Comet Ridge Ltd.More info