Vintage Energy Ltd. · ASX:VEN
Vintage Energy — Corporate Update (March 2021)
24 slides from Vintage Energy's corporate update, Mar 9, 2021
Slide 1: Transitioning to a gas producer
MARCH 2021 Transitioning to a gas producer
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Vintage Energy Limited (“Vintage” or the “Company”), with the purpose of providing general information about the Company. This presentation contains certain statements which may constitute “forward-looking statements”. Such statements are only predic
Slide 3: Fully funded upcoming programs
Fully funded upcoming programs Vintage technical team has track record of success in the Cooper Basin GAS DISCOVERY CO2 DISCOVERY GAS PROSPECT OIL PROSPECT Vali Nangwarry-1 Odin Cervantes Gas Field Well Structure Structure Field life of 20+ years High demand for reliable supply Vali-1 ST1 ‘look-a-li
Slide 4: Quality portfolio of permits
Quality portfolio of permits Geographically diverse and gas focused portfolio; cash flow anticipated in H1 2021 • Growing, multi-permit, • Multiple oil and gas Bonaparte footprint play types in Basin • ATP 2021: Commercial frontier region Cooper / gas field proven at Vali Eromanga • PRL 211: Odin pr
Slide 5: Projected eastern and south-eastern gas production vs demand
Projected eastern and south-eastern gas production vs demand New gas discoveries required to ease dependence on the development of ‘undeveloped 2P Reserves’ and ‘anticipated developments’ to meet forecast demand • Federal Govt has identified gas companies and the Forecast east coast gas supply vs 20
Slide 6: Cooper / Eromanga Basin
Cooper / Eromanga Basin _ VINTAGE ENERGY
Slide 7: Building a sizeable footprint in the Cooper Basin
Building a sizeable footprint in the Cooper Basin Selective permit acquisition with familiar geology delivering success • Two farm-ins and successful gazettal • Total acreage position of 862.8 km2 ATP 2021 • Farm-in for 50% and operatorship (July 2019) • Vali prospect identified, drilled, fracture s
Slide 8: Safely and expeditiously completing the first operated well
Safely and expeditiously completing the first operated well Vali-1 ST1 underpins broader Cooper Basin expansion strategy 2C INDEPENDENT COMMENCE CONTINGENT RESERVES DRILLING RESOURCE BOOKING Spud of first Vintage Certified net 2C Certified net Reserves operated well Contingent Resource booking of 1P
Slide 9: Cooper / Eromanga Basins – Southern Flank (ATP 2021)
Cooper / Eromanga Basins – Southern Flank (ATP 2021) Vali gas discovery flowed at 4.3 MMscfd through 36/64” choke at 942 psi wellhead pressure • Vintage 50% and operator (Metgasco Ltd 25%, Bridgeport Cooper Basin Pty Ltd 25%) • Vali-1 ST1 the first operated well for Vintage • Fracture stimulation an
Slide 10: Cooper / Eromanga Basins – Southern Flank (ATP 2021)
Cooper / Eromanga Basins – Southern Flank (ATP 2021) Contingent Resource to Reserves conversion completed for Patchawarra Formation only • Vali Field ERCE 2P Reserves1 of 33.2 PJ (gross) – Estimated from over 80 metres of interpreted log net gas pay (porosity cut-off of 6%) over a gross 312 metre in
Slide 11: Vali Field development concept
Vali Field development concept Potential nine well development targeting field life of ~20 years (based on 2P Reserves) • Flow test results, along with field and analogue well data analysis, indicate ~5 MMscfd raw gas initial rate and ~5 Bcf of raw gas per well • Potential for a nine well vertical d
Slide 12: Cooper / Eromanga Basins – Southern Flank (PRL 211)
Cooper / Eromanga Basins – Southern Flank (PRL 211) Odin de-risked as a result of Vali-1 ST1 success; prospect straddles PRL 211 and ATP 2021 • Vintage (operator with 42.5%), Bridgeport CB (21.25%) and Metgasco (21.25%) free carry Beach Energy (15%) for Odin drilling • PRL 211 is a 98.49 km2 retenti
Slide 13: Cooper / Eromanga Basins – Southern Flank (PRL 211)
Cooper / Eromanga Basins – Southern Flank (PRL 211) Odin structure is a Vali ‘look-a-like’ • Odin is a Permian four-way dip closure plunging to the north-east into the Nappamerri Trough – Prospective for gas in multiple sands – Up-dip of Strathmount-1 which intersected interpreted Permian gas pay •
Slide 14: Successful gazettal bid – PELA 679
Successful gazettal bid – PELA 679 Analogous to prolific Western Flank oil play; Pennington and Bauer oil fields up-dip of Permian stratigraphically trapped gas at Middleton • Successful bid for 393 km2 Block CO2019-E (PELA 679) in south west of SA Cooper Basin • 2D seismic data limited and poor qua
Slide 15: Otway Basin
Otway Basin _ VINTAGE ENERGY
Slide 16: Otway Basin
Otway Basin Nangwarry-1 CO2 discovery potentially capable of commercial production over 50+ years PEL 155 • Nangwarry CO2 discovery to potentially be producing in 20221 • Testing of the well planned for March 2021 • Possible production for 50+ years • Reliable source of food grade CO2 – CO2 vital in
Slide 17: Otway Basin
Otway Basin Nangwarry-1 CO2 production test to commence around mid-March 2021 • Superior Energy rig to arrive on site on 10 March • Operator advised of some COVID-19 related delays (now resolved) in mobilising equipment and the rig across the border between Victoria and South Australia • Testing pro
Slide 18: Otway Basin – Central Penola Trough
Otway Basin – Central Penola Trough “The Caroline-1 CO2 well….the single most profitable well in South Australia”1 • Caroline-1 discovered by Alliance Oil Development Australia in 1967 – Located southeast of Mt Gambier – Eventually owned by Air Liquide Australia Ltd • CO2 produced from 1967 until 20
Slide 19: Perth Basin
Perth Basin ~w VINTAGE ENERGY
Slide 20: Perth Basin – Oil potential
Perth Basin – Oil potential Equity interest in Cervantes oil prospect and option to drill a second structure • L14, located within the Perth Basin, is a 39.8 km2 production licence granted over the Jingemia oilfield and surrounds Farm-in structure • Binding farm-in agreement executed for 30% of the
Slide 21: Perth Basin – Oil potential
Perth Basin – Oil potential Adjacent to the 12 MMbbl oil in place Jingemia oil field (over 4.6 MMbbl produced to date) • Cervantes structure located in a gap between the oil discovery trend of the Hovea, Jingemia and Cliff Head oil fields – High-side fault trap of multiple reservoir units (similar s
Slide 22: Appendices
Appendices _ VINTAGE ENERGY
Slide 23: Other permits
Other permits Galilee Basin – ATPs 743, 744, 1015 (“Deeps”) • Underexplored and areally extensive permits of more than 9,000 km2 • Albany Field is a large robust anticlinal structure over 61 km2 • Targeting Lake Galilee Sandstone, with potential follow up wells • Potential for additional structures
Slide 24: Glossary
Glossary $ Australian dollars GJ Gigajoule (1 GJ is equivalent to 1x109 joules) 1C Contingent resource low estimate1 JV Joint Venture 2C Contingent resource medium estimate1 km2 square kilometres 3C Contingent resource high estimate1 km kilometre 2D Two dimensional LNG Liquefied Natural Gas 3D Three