Vintage Energy Ltd (“Vintage” or “the Company”) was registered as a proprietary limited company on 5 November 2015. The Company was formed amid the backdrop of a developing energy and gas supply crisis and listed on 17 September 2018.
There is a clear gas supply shortage in the eastern states of Australia and spot gas prices have reached record levels. Crude oil prices have rebounded and stabilised from the extreme lows of 2015/16. This, combined with reductions in operating costs, are expected to result in improved margins for both oil and gas production, creating opportunities for increased exploration and development of oil and gas assets within Australia.
Since the Company’s inception, management, the directors and advisors have been actively reviewing oil and gas opportunities and corporate opportunities in the Australian market. Vintage has thus far secured four separate, but valuable and highly strategic, natural gas exploration opportunities. We believe that each of these has strong potential for new gas discoveries and more importantly, the potential for early gas production to supply the Eastern Australian energy market.
Further farm-in and acquisition discussions on several assets are underway.