(Vintage Energy 50% Otway Energy 50%)
PRL 249 contains the Nangwarry gas field, discovered in January 2020. On testing, Nangwarry-1 produced raw gas (~93% CO2, ~6% methane and ~1% nitrogen), at flow rates of 10.5-10.8 MMscf/d, measured through a 48/64” choke at a flowing wellhead pressure of 1,415 psi over a 36-hour period.
Recoverable CO2 sales gas and Contingent Resources of gas hydrocarbons at Nangwarry have been independently assessed and announced to the ASX on 12 July 2021. Recoverable CO2 sales gas was assessed at the Best Estimate level as 25.9 bcf gross and 12.9 bcf net to Vintage. 2C Contingent Resources of gas hydrocarbons were assessed to be 1.6 bcf gross and 0.8 bcf net to Vintage.
These volumes are considered sufficient to provide a multi-decade feedstock source for production of food or industrial grade CO2, a required input for a wide range of sectors including hospitality, food and beverage manufacture, protected horticulture, chemical, cold storage, medical device and other manufacturing.
Vintage is seeking an outcome which will recognise the economic value of the resource. Realisation of this value will require processing of raw gas to food grade standard and liquefaction for transport to market and storage.
