Vintage aims to create value for shareholders through the discovery and commercialisation of onshore gas and oil fields.
The strategy to achieve this starts with a focus on assets possessing the combination of prospectivity, reservoir characteristics and locational advantages offering rapid commercialisation and cash generation.
Vintage is well equipped to identify opportunities meeting this criteria; board and management feature deep direct experience in oil and gas exploration onshore Australia, the development of discoveries into cash generating assets and the efficient conduct of drilling and production operations in remote locations.
Application of its strategy led Vintage to farmin to PRL 211 and ATP 2021 in the Cooper Basin, Australia’s most significant onshore province for conventional petroleum production; a region with an extensive pipeline network, established processing facilities and export pipelines supplying gas to southern and eastern Australia and liquids to Port Bonython. The permits lie in the southern flank of the Nappamerri Trough, a region which is relatively lightly explored.
Vintage has recorded 5 successes from 5 wells drilled in the region, including the Vali and Odin gas discoveries. The company’s priority on early cash generation has seen both fields enter production appraisal programs with accompanying long term gas contracts. Through these production appraisal programs Vintage is acquiring the detailed information on reservoir performance that will enable preparation of full field development plans.
The production appraisal is to be supported by further drilling appraisal in the future, initially on the Odin gas field.
