News

Operations update

Tuesday, January 21, 2020

Vintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to provide an operations update for its onshore Cooper/Eromanga Basins, Galilee Basin and Otway Basin drilling and stimulation campaigns.

Cooper/Eromanga Basins (ATP 2021, Vintage earning 50%)
Vintage, as operator of the ATP 2021 Joint Venture with Metgasco Ltd (25%) and Bridgeport (Cooper Basin) Pty Ltd (25%), advises that the Vali-1 ST1 gas exploration well has been cased and suspended and the rig released on Friday 17 January at 10.00am. This follows the discovery of gas in the Patchawarra as well as log gas pay interpreted in the Nappamerri and Toolachee Formations and oil shows in some of the Jurassic sands.

The joint venture is continuing the evaluation of the data from the well and is considering the next steps to define the size and commercial potential of this exciting discovery. After finalisation and joint venture review of wireline log and resource analyses, the results will be released to the market.

Neil Gibbins, Vintage Managing Director, said “We are very pleased by the results of Vali-1 and look forward to testing the well and quickly progressing activities on both the Vali discovery and other high graded opportunities in ATP 2021”.

Galilee Basin (ATPs 743, 744, 1015 (“Deeps”), Vintage 30%)
The operator of the Galilee Basin Deeps Joint Venture, Comet Ridge Ltd (“Comet”, ASX: COI), has advised that Albany-2 flow back has recommenced, using nitrogen lifting and, to date, 63% of the stimulation fluid has been recovered. During the Christmas break, the wellhead pressure built up to approximately 100 psi whilst the well was shut-in, indicating gas in the top of the wellbore. A laboratory sample was taken, and analysis indicates it to be comparable to the Albany-1 gas, with increased nitrogen in the sample due to the nitrogen lifting. The CO2 concentration was less than 1%.

Albany-1 ST1 is being prepared for stimulation, which is expected to take place by the end of the month.

Otway Basin (PEL 155, Vintage 50%)
The operator of the PEL 155 Joint Venture, Otway Energy Pty Ltd previously advised that detailed laboratory analyses of the Nangwarry-1 gas samples from the top Pretty Hill Sandstone indicated CO2 content at around 90%. Since then, three other gas samples from the top Pretty Hill Sandstone have been analysed and are consistent with this CO2 content. The well has now been cased and suspended and Eastern Well Rig 106 has been released. The joint venture is reviewing all data obtained during drilling to develop a forward plan for evaluation of the top Pretty Hill Sandstone CO2 accumulation and the mid-Pretty Hill Sandstone gas shows.

While the joint venture wasn’t targeting CO2, it has been economically produced from wells in both the South Australian and Victorian onshore Otway Basin for many years.

Further updates to the market will be provided as plans are developed.

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Vintage Energy

Vintage Energy Ltd has been established to acquire, explore and develop energy assets principally within, but not limited to, Australia, to take advantage of a generally favourable energy pricing outlook.

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