Vali-1 ST1 flow-test program commences

Thursday, August 13, 2020

The ATP 2021 joint venture (Vintage Energy Ltd (ASX: VEN, “Vintage”) 50% and operator, Metgasco Ltd 25% and Bridgeport (Cooper Basin) Pty Ltd 25%) is pleased to advise that a strong gas flare continued to be observed throughout the whole of the flow-back period. Recovery of the injected stimulation fluids reached approximately 53%, with the gas rate reaching 4.9 MMscfd through a 42/64“ choke at a well head pressure of 680 psi.  The well was shut-in once the recovery rate of stimulation fluid had dropped sufficiently for the well testing to commence.  The well head pressure after shut-in built up quickly to ~3000 psi.

• Flow rate of 4.9 MMscfd reached at conclusion of stimulation fluid flow back
• Flow test program commenced
• Independently certified gross 2C Contingent Resource of 37.7 Bcf (18.8 Bcf Net)¹

The flow testing of the well has now commenced. The testing will involve the following activities:

• Running a Production Logging Tool to determine gas contribution of each stimulated zone;
• Equal periods of shut-in and flow testing at various flow rates;
• Extended flow testing of around two days, during which time pressurised gas samples will be taken for laboratory analysis;
• Shut-in to observe the pressure response of the reservoir. 

This sequence of testing events will allow for the estimation of the potential flow rate for the Vali-1 ST1 well. All of this information will be assessed and incorporated into a commercialisation plan for the asset, which will include an estimate of the number of development wells required to maximise returns from the Vali Field.

1. Refer ASX release dated 29 April 2020 

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