Vintage Energy Ltd. · ASX:VEN
Vintage Energy — Investor Presentation (July 2024)
28 slides from Vintage Energy's investor presentation, Jul 16, 2024
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 July 2024
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 15 July 2024. This presentation does not purport to be all i
Slide 3: Important notice and disclaimer
Important notice and disclaimer For personal use only 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 exp
Slide 4: Vintage Energy is an Australian oil and gas producer and explorer
Vintage Energy is an Australian oil and gas producer and explorer. Just 6 years old, Vintage: For personal use only • has discovered 2 gas fields, Vali and Odin in the southern flank of the Nappamerri Trough where it has a 100% drilling success rate across 5 wells; • is supplying gas to east coast A
Slide 5: Company overview
Company overview Onshore gas projects. Exploration acreage offering high chance of technical and commercial success. For personal use only 1 Cooper Basin gas operations Exploration Appraisal production • Vali commenced Feb 23 3 Cooper Basin 6 • Odin commenced Sep 23 Reserves & resources 4 Otway Basi
Slide 6: Current operations and approaching events
Current operations and approaching events Priority on advancing appraisal of Cooper Basin gas, increasing gas production and cash revenue 1 Appraisal gas production and sales Current For personal use only Producing from Odin & Vali gas fields • Odin-1 at ~ 1.4 MMscf/d raw gas1 • Vali-1 at ~ 1.3 MMsc
Slide 7: Vintage Cooper Basin credentials
Vintage Cooper Basin credentials Deep experience in exploration and production. Proven success rate. For personal use only 2018: Float Successful Experienced • Farmin to Southern Flank • Board, management and technical 2019: Farm-in to Southern Flank & • 5 wells, 100% success rate team with proven C
Slide 8: Southern Flank location
Southern Flank location Proven gas province between highly productive regions in South Australia and Queensland For personal use only • Lightly explored and developed region between Ballera gas plant (Queensland) and Dullingari satellite (South Australia). • Connected to Moomba gas plant by Vintage
Slide 9: The Southern Flank opportunity
The Southern Flank opportunity Compelling conventional oil and gas location in eastern Australia For personal use only • Southern Flank Nappamerri Trough Underexplored Cooper Basin • Proven oil and gas province acreage • Exploration previously inhibited by acreage access • Acreage relinquishment and
Slide 10: Vintage operations in the Southern Flank
Vintage operations in the Southern Flank Established production via pipeline connection to Moomba processing plant For personal use only Gas Supply Contracts Overview PRL 211/ ATP 2021 (50% interest and Operator) • Vintage facilities connected to SACB network and • Vali and Odin gas discoveries, 202
Slide 11: Gas and contracts
Gas and contracts Revenue generation in appraisal production through long term contracts Proved and probable1 gas: Vali Vali GSA with AGL Odin GSA with Engie/Pelican Point Power For personal use only (negotiated 2021) (negotiated 2023) Sales gas2 PJ Joint venture Vintage share Contracted: base 9 4.5
Slide 12: Opportunity for commercial oil discoveries
Opportunity for commercial oil discoveries 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 fr
Slide 13: 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 14: Exploration
Exploration Portfolio features a mix of proven gas producing provinces with high potential frontier acreage Galilee Basin Bonaparte Basin ATP 743, 744, 1015 For personal use only EP 126 (“Deeps”) Includes Cullen-1 well 2 Albany-1 & Albany-2 gas wells Cooper Basin ATP 2021, PRL 211, PELA 679 Gas and
Slide 15: Wrap up
Wrap up Exposure to east coast gas with existing gas supply, uncontracted gas plus running room for value accretion from appraisal, development and drilling opportunities in oil and gas. For personal use only • An experienced Cooper Basin team, lightly explored Southern Flank acreage where it has ac
Slide 16: Appendix
For personal use only Appendix
Slide 17: Corporate overview
Corporate overview Key figures Shareholders by type Shares on issue1 million 1,669.5 For personal use only As at 28 June 2024 Market capitalisation1 $ million 17 Private Cash2 $ million 3.0 Net borrowings2 $ million 7.0 71.1% Aust insitutions 12 month high cents per share 5.0 20.3% 12 month low cent
Slide 18: Odin gas field
Odin gas field Connected to Moomba infrastructure, appraisal production supplying Pelican Point Power Overview For personal use only • 2C gas: 39 PJ (gross; Vintage share ~19 PJ) 1 • Connected to Moomba via Vali-Beckler pipeline • Contracted to supply gas to Pelican Point Power from start-up to Dec
Slide 19: Vali gas field
Vali gas field Vintage operated. Appraisal by production. Supplying gas to AGL. Overview For personal use only • Total 2P sales gas and ethane reserves 97.4 PJ1 (gross; Vintage share 48.7 PJ) • 3 wells completed, connected to Moomba gathering system at Beckler • Commenced supply from Vali-1 in Feb 2
Slide 20: Odin and Vali drilling results
Odin and Vali drilling results Multiple gas bearing zones, oil prospectivity For personal use only • Odin-1 identified three gas bearing zones ‐ Epsilon, Toolachee and Patchawarra formations ‐ flowed gas at 6.5 MMscf/d from Epsilon and Toolachee1 ‐ oil indications in higher sections • Odin-2 identif
Slide 21: Otway Basin
Otway Basin Nangwarry-1 CO2 discovery and lightly explored gas prospective acreage in the Penola Trough PEP 171 For personal use only • 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 22: Nangwarry CO2
Nangwarry CO2 Resource size and quality capable of supporting multi-decade commercial CO2 supply For personal use only Nangwarry (Vintage 50%, Lakes Blue Nangwarry CO2 discovery (Gross joint venture )2 Energy 50% and operator) CO2 Sales Gas (Bcf) Unrisked hydrocarbon Contingent • CO2 resource indepe
Slide 23: Food-grade carbon dioxide market
Food-grade carbon dioxide market An essential input where supply is structurally challenged The market Supply For personal use only • Food-grade and industrial-grade CO2 is a • Natural supply accounts for less than 10% of broadly- sought essential input Australian CO2 production capacity – food and
Slide 24: 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 25: 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 Gove
Slide 26: Southern state gas market fundamentals
Southern state gas market fundamentals Gas prices are attractive and supply shortfalls are forecast to grow Gas commodity prices for 2025 supply to Eastern Australia1 Eastern Australia gas demand & forecast supply from 2P reserves For personal use only 2026 - 20361 Prices comfortably above $12/GJs 2
Slide 27: Board
Board Chairman Managing Director Director Director Reg Nelson Neil Gibbins Ian Howarth Nick Smart For personal use only Reg Nelson has a distinguished career in the Neil Gibbins has over 40 years of technical Ian Howarth created Collins Street Media, one of Nick Smart has over 40 years of corporate
Slide 28: 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