Our portfolio build strategy is to:
Vintage has a 50% interest and operatorship in ATP 2021 in the Queensland portion of the Cooper/Eromanga Basins, with Metgasco Ltd 25% and Bridgeport (Cooper Basin) Pty Ltd 25%. A recent gas discovery was made in the Vali prospect, with the Vali-1 ST1 well identifying gas pay and gas and oil shows at various intervals. This will result in follow up exploration and appraisal work in the permit in addition to the likely development of the Vali field.
Vintage will earn a 42.5% interest in PRL 211 (Metgasco Ltd 21.75%, Bridgeport (Cooper Basin) Pty Ltd 21.75% and Senex Energy Ltd 15%), a permit on the South Australian side of the Cooper/Eromanga Basins and adjacent to ATP 2021. This permit contains the Odin prospect, which straddles the border of the two permits and is a ‘look-a-like’ to the Vali prospect.
Vintage has earned its 50% interest in PEL 155, onshore Otway Basin, from Rawson Oil & Gas Ltd.
The Company has also signed a farm-in agreement with Somerton Energy Pty Ltd (wholly owned by Cooper Energy Ltd) whereby it has acquired a 25% interest and can earn up to a 50% interest and operatorship in PEP 171, a permit located onshore in the Otway Basin. PEP 171 has strong gas exploration potential. The Victorian Government has recently announced a lifting of the onshore gas exploration and production moratorium on 1 July 2021 which will allow Vintage to actively pursue opportunities in this permit from that date.
Vintage has earned a 30% interest in the “Galilee Basin Deeps Joint Venture” to assess the Lake Galilee Sandstone reservoir sequence of the Galilee Basin (within permits ATP 743, ATP 744 and ATP 1015). Comet Ridge Ltd hold 70% and operatorship. Two wells have been drilled with Albany-1 flowing gas to surface at a rate of 230,000 scfd unstimulated.
The Albany-1 well was followed up by the Albany-2 well, a 7 km step-out appraisal well, and a side-track of Albany-1 to further evaluate the Albany gas field.
Vintage will earn a 30% interest in the Cervantes Prospect, with the other joint venture parties being Metgasco Ltd earning 30% and RCMA 40%. Cervantes is an oil prospect that sits within L14 along the trend between the Hovea, Jingemia and Cliff Head oil discoveries.
Vintage has a 100% interest in EP 126, which is located onshore in the Bonaparte Basin, Northern Territory, and has executed binding Heads of Agreement with Firetail Energy Services Pty Ltd for it to become a joint venture partner in the EP126 permit. Under the terms of the agreement, Firetail will earn a 10% interest in EP126 through the provision of $850,000 of services for the testing of Cullen-1. EP 126 has strong gas and oil exploration potential.