News

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 .

Download the full press release

Vintage Energy

Vintage Energy has been established to acquire, explore and develop energy assets within Australia that will provide gas to the eastern states.

Contact Us

Subscribe

Enter your details to receive updates from Vintage Energy.