HIGHLIGHTS
- Gas Reserves: Vali gas field 2P Reserves tripled to 101.0 PJ (gross), net 50.5 PJ
- Odin-1 Contingent Resource booking of 36.4 bcf (gross), 16.0 bcf net and subsequent successful flow test
- Heads of Agreement with AGL for maiden gas contract
- Successful
- Oversubscribed SPP raises
-
- Vintage fully funded to take Vali to production, connect and tie-in Odin and execute
Managing Director's comment
"Our results for the December quarter put the stepping stones in place for
"Gas reserves were increased at Vali. We booked Contingent Resources and successfully flow tested Odin. We secured a Heads of Agreement with AGL for our maiden gas contract.
"A successful placement broadened our institutional share base. Our share purchase plan, completed after year-end was oversubscribed.
"These capital initiatives, together with payments arising from our agreement with AGL, means Vintage is fully funded to take Vali to production and, with this, commence revenue generation.
"We are also fully funded for our follow-up work on Odin and to address the growth opportunities we have identified for exploration in the Cooper and
"It means we are set for a busy and exciting half year to June, as we finalise the Gas Sales Agreement with AGL, do the work to take Vali to production, and subject to approvals, commence drilling at Cervantes".
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About
Contact:
Managing Director
+61 8 7477 7680
info@vintageenergy.com.au
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