Our portfolio build strategy is to:
Vintage has a 50% interest and operatorship in ATP 2021 on the Queensland side of the Cooper/Eromanga basins, with Metgasco Ltd 25% and Bridgeport (Cooper Basin) Pty Ltd 25%. A gas discovery was made in the Vali prospect in early 2020, with the Vali-1 ST1 well identifying gas pay predominantly in the Patchawarra Formation and gas and oil shows in various other formations. This was followed by the drilling of successful appraisal wells, Vali-2 and Vali-3 in 2021 confirming the extent of the gas accumulation in the Patchawarra and discovering a new gas pool in the Toolachee Formation. Planning is now underway to connect the Vali Field to nearby gas infrastructure to commence a long-term extended production testing to assist with the design of a full field development plan.
Vintage has a 50% interest in PRL 211 (Metgasco Ltd 25%, and Bridgeport (Cooper Basin) Pty Ltd 25%), a permit on the South Australian side of the Cooper/Eromanga basins and adjacent to ATP 2021. The Odin-1 well was successfully drilled in the permit in the same campaign as Vali-2 and Vali-3, with gas pay interpreted in the Toolachee, Epsilon and Patchawarra formations. The Odin gas field straddles the border of the two permits and is a ‘look-a-like’ to the Vali discovery.
Vintage has 50% interest in PRL 249 (exPEL 155) in the onshore Otway Basin, with Otway Energy Pty Ltd holding 50% and operatorship. The Petroleum Retention Licence was recently secured over the Nangwarry Field while a Production Licence application is prepared for submission to Government. The Nangwarry-1 CO2 discovery, made in early 2020, is a high-quality CO2 discovery with near-term potential for commercial production and sales. A number of parties have expressed an interest in being involved in the development of the project, with an MOU entered into with Supagas Pty Ltd to investigate potential development options. Following a successful extended production test in March/April 2021 these options are now being firmed up.
The Company farmed-in for 25% and has taken operatorship of PEP 171 with Somerton Energy Pty Ltd (wholly owned by Cooper Energy Ltd), with the potential to earn up to 50%. The permit is located onshore in the Otway Basin and has strong gas exploration potential. The Victorian Government lifted the moratorium for onshore gas exploration and production on 1 July 2021, restarting the exploration licences and is formulating new Regulations to guide the exploration and production activities in Victoria. Once the new draft Regulations are released for public consultation, the Joint Venture will review and assess the regulations and decide on the schedule of exploration activities going forward.
Vintage has 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. The Deeps Joint Venture drilled the Albany-1 exploration well, flowing gas to surface at a rate of 230,000 scfd unstimulated. The Albany-1 well was followed up by Albany-2, a seven kilometre step-out appraisal well to further evaluate the Albany gas field, and a side-track of Albany-1. The Albany-2 well was successfully hydraulically stimulated, with operations currently on hold.
Vintage has a 100% interest in EP 126, which is located onshore in the Bonaparte Basin, Northern Territory, and is looking to test the Cullen-1 well. EP 126 has strong gas and oil exploration potential.