Vintage Energy Ltd. · ASX:VEN
Vintage Energy — Investor Presentation (December 2021)
26 slides from Vintage Energy's investor presentation, Dec 13, 2021
Slide 1: Placement and Share Purchase Plan
DECEMBER 2021 Placement and Share Purchase Plan
Slide 2: Vintage Energy overview
Vintage Energy overview Quality portfolio of permits that are geographically diverse; cash flow anticipated in Q2 2022 1 Cooper / Eromanga Basins • Growing, multi-permit, footprint • ATP 2021: Commercial gas field proven at Vali; PRL 211: Odin-1 gas discovery 5 tested at commercial rates 4 2 Otway B
Slide 3: Value adding achievements
Value adding achievements Vintage has delivered with its key operational assets to date VALI Success with Vali-1 ST1 exploration well, Vali-2 and Vali-3 appraisal GAS FIELD wells; Tripling of Vali 2P reserves to 101.0 PJ (Gross), 50.5 PJ (Net) ODIN Success with Odin-1 exploration well; Gross 2C Cont
Slide 4: Three Growth Projects
High impact exploration and appraisal Funding required for exploration in the Cooper and Perth Basins, completion and tie-in of Odin-1, moving Nangwarry towards commercialisation and undertaking GG&E • Upcoming exploration and appraisal program to be funded by Three Growth Projects Capital Raising a
Slide 5: PRL 211 and ATP 2021 (Cooper Basin)
PRL 211 and ATP 2021 (Cooper Basin) Cooper Basin new field discoveries close to Moomba connected infrastructure, with exciting follow-up prospects, such as Kinta, still to be drilled ODIN FIELD: 2C of 16.0 GAS AND OIL PROSPECTIVITY Bcf (net) • Kinta an exciting prospect with gas shows Odin-1 explora
Slide 6: Funds available to get Vali Project through first gas and cash flow
Funds available to get Vali Project through first gas and cash flow Up to $17.5 million (net) total: $7.5 million (net) to be received from AGL as a gas prepayment; up to $10 million (net) of debt to be received from PURE Gas Sales Agreement • ATP 2021 Joint Venture and AGL Wholesale Gas Limited con
Slide 7: Southern gas production declining; demand stable; prices up
Southern gas production declining; demand stable; prices up Long-term domestic gas prices expected in the range of $8-$11/GJ; LNG pricing emerging as benchmark for ex-Wallumbilla gas price Southern gas production and demand (PJ) BASE CASE GAS PRICE FORECASTS (REAL $2021, $/GJ) 500 Actual Forecast 11
Slide 8: Uses of funds
Uses of funds Vali-1 ST1 fracture stimulation
Slide 9: PRL 211 and ATP 2021 - $7.6 million (net)
PRL 211 and ATP 2021 - $7.6 million (net) Capital raising funds for Odin completion and tie-in, and exploration activities in and around Kinta1 PRL 211 • $0.45 million for the completion of Odin-1 • $1.9 million for connection of the Odin Field into the Moomba gathering system and facilities ATP 202
Slide 10: Otway Basin - $0.5 million (net)
Otway Basin - $0.5 million (net) Nangwarry-1 CO2 discovery potentially capable of commercial production over 30+ years $0.5m • Marketing and engineering studies PRL 249 (exPEL 155) • Nangwarry CO2 discovery • Successful well testing flowed CO2 at stabilised rate of 10.5-10.8 MMscfd • Potential for r
Slide 11: Perth Basin – $3.9 million (net)
Perth Basin – $3.9 million (net) Cervantes is an exciting oil prospect on trend with Cliff Head, Jingemia and Hovia oil fields • Drilling the Cervantes-1 well1 $3.9m • Anticipated timing Q1/Q2 2022 • L14, located within the Perth Basin, is a 39.8 km 2 production licence granted over the Jingemia oil
Slide 12: Key raising details
Key raising details ~w VINTAGE ENERGY
Slide 13: Key raising details
Key raising details Targeting ~$10.5 million via a Placement and Share Purchase Plan • Targeting approximately $10.5 million via: Offer Size & – Single tranche Placement, of $8.5 million at $0.085 per share Issue Price Structure – A Share Purchase Plan (“SPP”) to raise up to approximately $2.0 milli
Slide 14: Key raising details
Key raising details Pro-forma Capital Structure Post-capital raise pro-forma $10.5m raise Pre-raise ordinary shares 605.3m 83.1% Pre-raise market capitalisation1 $59.3m Target new shares issued (Placement+SPP) 123.5m 16.9% Total target shares post-raise 728.8m 100.0% Issue Price $0.085 Implied marke
Slide 15: Indicative Placement and SPP timeline
Indicative Placement and SPP timeline Key dates Trading halt entered and announcement of Capital Raising Pre-market Thursday, 9 December 2021 Placement offer opens Pre-market Thursday, 9 December 2021 Placement offer closes (5.00pm AEDT) Thursday, 9 December 2021 Record date for SPP (7:00pm AEDT) Fr
Slide 16: Explanatory notes and risks
Explanatory notes and risks a VINTAGE ENERGY
Slide 17: Explanatory notes
Explanatory notes Prospective and Contingent Resources: With respect to Prospective Resource estimates contained in this report, estimated quantities of petroleum that may potentially be recovered by the application of future development projects relate to undiscovered accumulations. These estimates
Slide 18: 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 19: International offer restrictions
International offer restrictions This document does not constitute an offer of new ordinary shares (New Shares) of the Company in any jurisdiction in which it would be unlawful. In particular, the document may not be distributed to any person, and the New Shares may not be offered or sold, in any co
Slide 20: International offer restrictions (cont…)
International offer restrictions (cont…) Singapore This document and any other documents relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any other document in connect
Slide 21: International offer restrictions (cont…)
International offer restrictions (cont…) United Kingdom Neither this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financial Services and Market
Slide 22: Investment risks
Investment risks • Potential investors should be aware that there are risks associated with investing in Vintage. Certain risks are beyond the control of Vintage and its Directors and Management and may have a material impact on Vintage’s future operating and financial performance, and/or the financ
Slide 23: Investment risks (cont…)
Investment risks (cont….) Investment risks • Adverse weather conditions events, unforeseen increases in establishment costs, mechanical failures, human errors, industrial disputes or encountering unusual or unexpected geological formations and other unforeseen events, Operational risk could lead to
Slide 24: Investment risks (cont…)
Investment risks (cont….) Investment risks • Exploration and development of hydrocarbon reserves and resources require significant capital and operational expenditure. With future growth, Vintage may require funding for future commitments. There can be no assurance Access to funding that the Company
Slide 25: Investment risks (cont…)
Investment risks (cont….) Investment risks • The financial performance of the Company is subject to its various counterparties or joint venture partners Counterparty continuing to perform their respective obligations under various contracts. If one of its counterparties or joint exposure and venture
Slide 26: 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
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