Vintage Energy Ltd. · ASX:VEN
Vintage Energy — Investor Presentation (May 2025)
27 slides from Vintage Energy's investor presentation, May 26, 2025
Slide 1: Vintage Energy: Discovering and delivering gas for eastern Australia
Vintage Energy Discovering and delivering gas for eastern Australia For personal use only PROVEN PROSPECTIVITY INFRASTRUCTURE IN PLACE GAS SUPPLY CONTRACTS Vali-2 Stimulation operations May 2025 1
Slide 2: Important notice and disclaimer
Important notice and disclaimer For personal use only Summary information This presentation has been prepared by Vintage Energy Limited (“Vintage” or the “Company”), with the purpose of providing general information about the Company as at 22 May 2025. This presentation does not purport to be all in
Slide 3: Important notice and disclaimer
Important notice and disclaimer Future performance This presentation includes both information that is historical in character and information that consists of forward-looking statements. Forward-looking statements are not based on historical facts, but are based on current expectations of future re
Slide 4: Vintage Energy
Vintage Energy For personal use only supplying gas to east coast Australia reserves & resources for exploration acreage well- markets facing structural located for oil and gas supply shortages and rapid development 4
Slide 5: Key asset overview
Key asset overview 2 current gas projects. Exploration acreage offering high chance of technical and commercial success. For personal use only 1 Southern Flank gas fields, Exploration Cooper Basin ▪ Production appraisal into long 3 Cooper Basin 6 term gas contracts ▪ 142 PJ (gross) 2P sales gas 4 Ot
Slide 6: Southern Flank gas fields: Odin and Vali
Southern Flank gas fields: Odin and Vali Appraisal production program, gas produced and sold ex-Moomba. Key Figures For personal use only (joint venture 100%, Vintage share 50% of figures displayed) Production MMscf/d raw gas 3.51 2P Gas reserves2 PJ 142 Uncontracted 2P Gas reserves PJ ~120 PJ Produ
Slide 7: Production Uplift work program
Production Uplift work program Low-cost campaign with dual focus of scale detection/removal plus addition of production zones For personal use only Work program Work program objective Scale investigation Determine extent of impact at Odin. Investigate potential for scale impact at Vali, remediate sc
Slide 8: Nangwarry project
Nangwarry project Escalating interest across CO2 value chain in progressing Nangwarry project Nangwarry Liquified CO2 Project For personal use only Nangwarry Resource, PRL 249 (Vintage 50%, Lakes Blue Energy 50% and ▪ Engagement across the CO2 value chain Operator) ▪ Supply interruptions and output
Slide 9: Food-grade, industrial and laser-grade carbon dioxide market
Food-grade, industrial and laser-grade carbon dioxide market An essential input where supply is structurally challenged The market For personal use only Nangwarry Project features • Food-grade and industrial-grade CO2 is a broadly-sought essential input • Production of 150 – 200 tonne per day would
Slide 10: Expenditure reduction program
Expenditure reduction program Production uplift program to combine with ongoing expenditure reduction program to improve cash returns For personal use only Achieved Quarterly cash expenditure on staff, admin & corporate • Cash expenditure measures from Q3 FY 24 costs • Q1 & Q2 FY25 both ~7% lower th
Slide 11: Southern state gas market fundamentals
Southern state gas market fundamentals Gas prices are attractive and supply shortfalls are forecast to grow …leading to forecast shortfall to demand from 2027 For personal use only Falling supply from existing 2P reserves…. Net change in 2P production by basin 2026 - 20351 Southern States supply and
Slide 12: Other Exploration
Other Exploration Future value sources in prospective acreage with good local market prospects. 1 3 For personal use only NT Gas opportunity Galilee Basin gas EP 126 onshore Bonaparte Basin, PCA’s 319 – 324 (“Deeps”) (Vintage 30%, Vintage Energy 100% Comet Ridge Ltd 70% and operator) ▪ Untested Cull
Slide 13: Approaching events and catalysts
Approaching events and catalysts The coming months are expected to feature events which add revenue, value or cash flow For personal use only Production uplift program Immediate flow-on of results to production From July 2025 and sales then to cash generation Expenditure reduction Savings from FY24
Slide 14: Wrap up
Wrap up Rare small cap exposure to Cooper Basin gas supply with upside from Nangwarry Project For personal use only • Supplying under long term contracts East coast gas exposure • Over 60 PJ of uncontracted gas • Market keen for additional supply • Potentially transformative increase in production •
Slide 15: Appendices
For personal use only Appendices
Slide 16: Corporate overview
Corporate overview Key figures Shares on issue1 million 1,980.3 Shareholders by type For personal use only As at 13 December 2024 Market capitalisation1 $ million 10 Cash2 $ million 2.0 Private 85.6% Debt2 $ million 8.0 12 month high1 cents per share 0.1 12 month low1 cents per share 0.03 Insitution
Slide 17: Scale management impact demonstrated
Scale management impact demonstrated Confirmation of scale and initial results at Odin-1 demonstrated impact and production uplift opportunity Identification and production response Odin-1 daily production rate, raw gas For personal use only • Scale formation occurs when dissolved minerals precipita
Slide 18: Toolachee production opportunities
Perforated Vali-1 ST1 Toolachee pay Vali : access Toolachee gas zone isolated by movable sleeve between two packers A 1 2 ITEM No. 1 2 R.T. to top of tubing spool DESCRIPTION tubing hanger Cactus 5-1/2" 5kpsi 2-3/8" box x box JFE Bear LENGTH (m) 4.60 0.30 DEPTH (m, M 0.0 4.6 Toolachee production opp
Slide 19: Oil opportunity in Southern Flank
Oil opportunity in Southern Flank Drill ready targets, good oil shows at Vali and over 20 closures mapped in ATP 2021 Highly prospective area for oil For personal use only • • ~11 MMbbls of oil production at Dullingari • Oil production from the Roseneath field to the south • Oil recovery from well t
Slide 20: Odin gas field
Odin gas field Production from 2 wells • 2 completed wells, connected to Vali-Beckler pipeline, suppling ENGIE For personal use only • Odin-2 brought online September 2024 • Scale accumulation found to be affecting Odin-1 production; initial remedial work resulted in uplift from 1.4 MMscf/day to 3.0
Slide 21: Vali gas field
Vali gas field Vintage operated and 50% interest. Appraisal by production. Supplying gas to AGL. Overview Status & outlook For personal use only • 3 wells completed, connected to Moomba gathering system at Beckler • Vali-1 and facility performing to plan • Commenced supply from Vali-1 in Feb 2023 •
Slide 22: Nangwarry CO2 Contingent Resource
Nangwarry CO2 Contingent Resource Resource size and quality capable of supporting multi-decade commercial CO2 supply For personal use only Gross Joint Venture1 Contingent Resource Vintage Energy share2 Contingent Resource CO2 Sales Gas (Bcf) Unrisked hydrocarbon Contingent CO2 Sales Gas (Bcf) Unrisk
Slide 23: Cooper Basin oil exploration
Cooper Basin oil exploration PELA 679 subject to title award. Farm down from 100% to 50% agreed PELA 679 Cooper Basin location For personal use only • Located on Western Flank of Cooper Basin, south-west of producing Worrior oil field • Vintage awarded 100% with grant contingent on completion of lan
Slide 24: Otway Basin
Otway Basin Nangwarry-1 CO2 discovery and lightly explored gas prospective acreage in the Penola Trough For personal use only PEP 171 • Victorian flank of Penola Trough, reopened for exploration July 2021 • 5-year permit term • Prospective for gas, as shown by South Australian Penola Trough producti
Slide 25: Galilee Basin
Galilee Basin PCA’s 319 – 324 (“Deeps”) (Vintage 30%, Comet Ridge Ltd (“Comet”) 70% and operator) For personal use only • 15-year Potential Commercial Areas (PCA’s) awarded Sept ‘22 in lightly explored gas province, in proximity to market and proposed Galilee-Moranbah pipeline • Vintage farmed-in to
Slide 26: Bonaparte Basin
Bonaparte Basin EP 126 (Vintage Energy 100%) For personal use only • Potential in multiple play types • Acquired for nil consideration and acceptance of P&A of Cullen-1 if required (recognised on balance sheet) • On-site work suspended pending resolution of discussions with the Northern Territory Go
Slide 27: Glossary
Glossary $ Australian dollars GJ Gigajoule (1 GJ is equivalent to 1x109 joules) 1C Contingent resource low estimate1 JV Joint Venture For personal use only 2C Contingent resource medium estimate1 Km2 Square kilometres 3C Contingent resource high estimate1 Km Kilometre 2D Two dimensional LNG Liquefie