Vintage moves to 30% equity in the GBDJV

Monday, September 2, 2019

Vintage Energy Ltd (“Vintage”, ASX: VEN) is pleased to advise that the Galilee Basin Deeps JV (“GBDJV”) has reached the pre-determined Stage 2 funding point of $10 million (gross), which has triggered an increase in Vintage’s equity in the GBDJV from 15% to 30%.  Vintage was contributing to Stage 2 costs on a 50:50 basis, with the funding contribution for the joint venture to now be incurred in line with the GBDJV interests, which is Vintage 30% and Comet Ridge Ltd (“Comet Ridge”, ASX: COI) 70%.  As a result of this, Vintage has doubled its resources in the Albany Field .

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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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