Vintage Energy Ltd (ASX: VEN, “Vintage”) announces completion of the transaction announced 29 March 2022, for acquisition of Beach Energy Ltd.’s 15% interest in the Cooper Basin licence PRL 211 by Vintage and the other interest holders in the licence, Metgasco Ltd and Bridgeport (Cooper Basin) Pty Ltd.
The PRL 211 Joint Venture now comprises the following equity holders and interests: Vintage 50% and Operator; Bridgeport 25%; and Metgasco 25%.
PRL 211 is located close to existing Cooper Basin producing gas fields and infrastructure and contains the Odin gas field, discovered in May 2021 and flow tested in September/October 2021. Odin is mapped to extend into ATP 2021, a licence sharing identical participants and equity interests to PRL 211, and which holds the Vali gas field. The Odin-1 discovery well is to be completed as a gas producer in the forthcoming well completion campaign announced in the Vali operational update on 25 May 2022.