Vintage Energy Ltd. · ASX:VEN
Vintage Energy — Corporate Update (July 2022)
23 slides from Vintage Energy's corporate update, July 2022
Slide 1: Corporate presentation | July 2022
Vali-2 Stimulation operations Corporate presentation | July 2022
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 : ▪ Gas reserves and resources in the Cooper Basin close to Vintage Energy 2P gas reserves by contract infrastructure supplying the east coast domestic energy status, 50.5 PJ market ▪ A gas
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 7 4 Cooper Basin ▪ Working towards first gas ▪ 101.5 PJ (gross) 2P gas reserves, 5 Otway Basin Vintage share 50.5 PJ1 6 6 Galilee Basin
Slide 5: Vintage Energy sales gas position
Vintage Energy sales gas position Contracted supply to AGL. Uncontracted gas available. Prospects in proven gas province. Contracted gas: Vali gas to AGL Proved and probable2 gas: Vali ▪ Provides for sale of estimated 9 PJ – Sales gas PJ Joint venture Vintage share 16 PJ from Vali to end-2026 Contra
Slide 6: Vali gas project, indicative schedule
Vali gas project, indicative schedule Field work underway. Production expected in FY23 first half. June July August September October November Fracture • Stimulation of multiple Patchawarra zones in Vali- Stimulation 2 and Vali-3 followed by clean-up flows Well • Completion of Vali-1ST1,-2 & -3 and
Slide 7: Odin gas field commercialisation
Odin gas field commercialisation Joint venture commitment to bringing Odin gas to market as soon as practicable ▪ The PRL 211 joint venture has prioritised expedited production from Odin ▪ Targeting commencement of gas sales from Odin in FY24 first half ▪ Concept Engineering of connecting Odin-1 to
Slide 8: Vali and Odin indicative value pathway
Vali and Odin indicative value pathway Staged appraisal through drilling and production for informed reserves assessment, and future contracting and capital expenditure plans Stimulation, Ongoing full Appraisal completion Appraisal Informed field scale Vali Discovery drilling construction & Producti
Slide 9: Cooper Basin exploration
Cooper Basin exploration Addressing permits with familiar geology for the best chance of success ATP 2021 and PRL 211 (50% Vintage Energy) PELA 679 (100% Vintage Energy) ▪ Prioritising early production at Odin ▪ Successful gazettal application ▪ Prospective for oil and gas ▪ Geology similar to Weste
Slide 10: 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 11: Otway Basin
Otway Basin Nangwarry-1 CO2 discovery and lightly explored gas prospective acreage in the Penola Trough Nangwarry (Vintage 50%, Lakes Blue Energy 50% and Operator) ▪ CO2 resource (>90% CO2 independently assessed as 25.9 Bcf (gross joint venture; Vintage share 12.9 Bcf) ▪ Excellent feedstock for food
Slide 12: Nangwarry
Nangwarry Resource size and quality capable of supporting long term commercial CO2 supply ▪ Nangwarry CO2 resource represents Nangwarry CO2 discovery (Gross joint venture )1 supply of > 1.4 million tonnes of CO2 CO2 Sales Gas (Bcf) Unrisked hydrocarbon Contingent ▪ Potential field life exceeding 20
Slide 13: 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 14: 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 15: FY23 principal events
FY23 principal events First production, cash flow. Prioritising Vali production and accelerating Odin production and appraisal. Commencement of gas sales from Vali to AGL ▪ Gas supply to commence on well-by-well basis as completion, connection, construction and commissioning is finalised ▪ Current s
Slide 16: Investment highlight summary
Investment highlight summary Gas reserves, production and sales contracts, exploration upside, funded for capex, proven team Gas reserves, resources & acreage being • Vali gas field being completed and connected to Moomba gas gathering network connected to East Coast gas market • Odin gas discovery
Slide 17: Appendices
Appendices —_u VINTAGE ENERGY
Slide 18: Share information
Share information Key figures Shares on issue1 million 746.2 Shareholders by type As at 30 June 2022 Market capitalisation1 $ million 58 Cash2 $ million 18.2 Private Net cash2 $ million 8.2 20.5% 12 month high cents per share 13.0 67.3% Aust insitutions 12 month low cents per share 6.0 Foreign insit
Slide 19: 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 20: Vali & Odin fields
Vali & Odin fields Cooper Basin gas discoveries close to Moomba-connected infrastructure Vali | Commercial gas field ▪ 3 wells cased and being completed for production ▪ Vali-1 ST1 – flowed 4.3 MMscfd from the Patchawarra Formation and Tirrawarra Sandstone1 – confirmed gas pay in the lower Nappamerr
Slide 21: Australian CO2 market and Nangwarry
Australian CO2 market and Nangwarry An input where traditional supply is being structurally challenged Australia consumes an estimated 340,000 – 500,000 t per annum (930 - 1370 t/day) Australian CO2 market 2019-20 ▪ Required by food & beverage, medical and healthcare and chemical Est. 340 k tonne to
Slide 22: Finance & funding
Finance & funding Vintage is fully funded for its capital expenditure plans ▪ Cash at 30 June 2022 : $18.25 million ▪ PURE Finance facility: $10 million (fully drawn) PURE Finance Facility ▪ $10 million in 2 tranches subject to conditions precedent ▪ Term is 48 months from first draw-down which occu
Slide 23: 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