Vintage Energy Ltd. · ASX:VEN
Vintage Energy — Corporate Update (May 2022)
19 slides from Vintage Energy's corporate update, May 2022
Slide 1: Corporate update | May 2022
Corporate update | May 2022 Operations at Vali gas field ATP 2021 Cooper Basin
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: Vintage Energy is an Australian oil and gas company approaching first production
Vintage Energy is an Australian oil and gas company approaching its first production and revenue. Key features include: ▪ Gas reserves and resources in the Cooper Basin close to infrastructure supplying the east coast domestic energy market ▪ A gas supply agreement with AGL till end-2026 ▪ A fully f
Slide 4: Key asset overview
Key asset overview 3 current gas projects. Exploration acreage offering high chance of technical and commercial success. 1 Vali gas project Exploration Cooper Basin 4 Cooper Basin ▪ Working towards first gas 7 ▪ 101.5 PJ (gross) 2P gas reserves, 5 Otway Basin Vintage share 50.5 PJ1 6 Galilee Basin 2
Slide 5: Status and outlook summary
Status and outlook summary Funding in place, now working towards first gas supply to AGL FY22 outcomes to date: Near term program: Gas reserves & resources increased Preparation for gas production ▪ Vali 2P gas reserves of 50.5 PJ1 (net to Vintage) 1 Vali frac, well completion and production ready ▪
Slide 6: East coast gas market outlook
East coast gas market outlook Southern markets require new sources of gas supply “Southern states are …more reliant on gas flowing south from 2022 to avoid a shortfall. The long-term supply outlook is less positive. The shortfall in the southern states is forecast to continue in 2023 and beyond, whi
Slide 7: Cooper Basin: ATP 2021 and PRL 211
Cooper Basin: ATP 2021 and PRL 211 Farm-in, operatorship, gas discoveries and gas contracting 2019: Vintage farms into ATP 2021 and PRL 211 ▪ Prospectivity ▪ Alignment with Vintage experience and relationships ▪ Proximity to infrastructure 2020: Vali-1 gas discovery and flow test 2021: Successful ap
Slide 8: Vali & Odin fields
Vali & Odin fields Cooper Basin gas discoveries close to Moomba-connected infrastructure Vali | Commercial gas field ▪ 3 wells cased and being readied for production ▪ Vali-1 ST1 – flowed 4.3 MMscfd from the Patchawarra Formation and Tirrawarra Sandstone – confirmed gas pay in the lower Nappamerri G
Slide 9: Vali production plans
Vali production plans Field work underway, production expected in near future ▪ GSA with AGL for supply of 9 PJ to 16 PJ (100% joint venture volume; Vintage share is 50%) ▪ Vali-2 and -3 fracture stimulation campaign commenced April 2022. ▪ To be followed by completion and connection of Vali-1,-2 &-
Slide 10: Cooper Basin exploration
Cooper Basin exploration Addressing permits with familiar geology for the best chance of success ATP 2021 and PRL 211 PELA 679 (CO2019-E) ▪ Prospective for oil and gas ▪ Successful gazettal application ▪ 3D Seismic survey planned in Kinta area to identify and improve ▪ Geology similar to Western Fla
Slide 11: Otway Basin
Otway Basin Nangwarry-1 CO2 discovery potentially capable of commercial production over 30+ years Nangwarry ▪ Successful well test flowed CO2 at stabilised rate of 10.5-10.8 MMscfd over a 36-hour period with double that rate measured over shorter periods ▪ Potential as reliable, source of high-quali
Slide 12: Approaching events
Approaching events Catalyst-rich period in the lead up to first production and revenue Commercial ▪ Rig contract for well completion ▪ Receipt of final of 3 Vali pre-payments ▪ Financial close of PURE borrowing facility Well completion ▪ Fracture stimulation of Vali 2 & 3 underway ▪ Completion of Va
Slide 13: Investment highlight summary
Investment highlight summary Gas reserves, production and sales contracts, exploration upside, funded for capex, proven team ➢ Vali gas field being completed and connected to Moomba gas gathering network Gas reserves, resources & acreage being ➢ Odin gas discovery adjacent linked to East Coast gas m
Slide 14: Appendices
Appendices —_u VINTAGE ENERGY
Slide 15: Galilee Basin
Galilee Basin ATPs 743, 744, 1015 (“Deeps”) (Vintage 30%, Comet Ridge Ltd (“Comet”) 70% and operator) ▪ Lightly explored gas province, in proximity to market and proposed Galilee-Moranbah pipeline ▪ Vintage farmed-in to the ‘Deeps’ sandstone reservoir sequence of ATP 744, ATP 743 & ATP 1015 (all str
Slide 16: Bonaparte Basin
Bonaparte Basin EP126 Vintage Energy 100% ▪ 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 Government in relation to
Slide 17: Share information
Share information Key figures Shares on issue1 million 746.2 Shareholders by type As at 31 March 2022 Market capitalisation1 $ million 70 Cash2 $ million 8.2 Private Net cash2 $ million 8.2 21.4% 12 month high cents per share 13.0 67.3% Aust insitutions 12 month low cents per share 5.5 Foreign insit
Slide 18: Finance & funding
Finance & funding Vintage is fully funded for its capital expenditure plans ▪ Cash at 31 March 2022 : $8.2 million ▪ SPP completed Jan 2022: $3.2 million ▪ PURE Finance facility: $10 million ▪ AGL GSA: – Pre-payment ($7.5 net to Vintage, subject to conditions precedent); $5 million received by May 2
Slide 19: Board
Board Chairman Managing Director Director Director Reg Nelson Neil Gibbins Nick Smart Ian Howarth Reg Nelson has a distinguished career in the Neil Gibbins has over 35 years of technical Nick Smart has over 40 years of corporate Ian Howarth created Collins Street Media, one of Australian petroleum i