Management at Vintage are supported by a highly-experienced board of directors and advisors with many decades of management, operational and technical background in the oil and gas industry and Australian equity markets.
We are aiming to develop an integrated portfolio of energy assets capable of generating substantial value. The present value of oil and gas exploration and production assets in the Australian energy sector has fallen in line with global crude prices. We believe this presents opportunities to acquire quality assets at counter-cyclical prices.
Vintage aims to take advantage of these circumstances to create substantial shareholder value.
The unique combination of circumstances presented by the development of a massive Liquefied Natural Gas export industry in Queensland, anti-industry activism and politics (particularly in NSW, Victoria and the Northern Territory) has helped to stimulate a gas supply shortage in Australia’s Eastern states. This has created opportunities for the discovery and development of natural gas assets, which will be a focus of Vintage.
Recent events in South Australia (SA) have highlighted the instability in the state’s power generation capability. As a result, we believe drilling for gas in SA may eventually be accelerated, as noted by the strong recent SA Government support for the industry.
We have strong relationships with Governments and Government agencies, (particularly in South Australia), connections with existing explorers and operators, as well as a deep knowledge of Australian petroleum basins. Our networks are extensive within the Australian and international petroleum industry and the financial community.
We anticipate that as companies continue to reduce costs, they will shed exploration, production and infrastructure assets, hence providing Vintage the opportunity to make highly strategic acquisitions. We have ensured flexibility exists within the Company thus allowing for rapid decision making as investment opportunities are presented. While we believe exploration is the key foundation to building Vintage, we will also be examining production opportunities.
Discussions have been held with various possible strategic partners with several exploration opportunities with drill-ready prospects already identified.
It is envisaged that activities will primarily focus on gas exploration that is close to supply infrastructure for the eastern Australian market.