Vintage Energy Ltd. · ASX:VEN
Vintage Energy — RIU Good Oil & Gas Energy Conference 2023
20 slides from Vintage Energy's conference presentation, Sep 7, 2023
Slide 1: Discovering and delivering gas to eastern Australia
Vintage Energy Ltd Discovering and delivering gas to eastern Australia For personal use only RIU Good Oil & Gas Energy Conference Vali-2 Stimulation operations 7 September 2023
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 a young Australian oil and gas producer and explorer
Vintage Energy is a young Australian oil and gas producer and explorer. For personal use only Just 5 years old, Vintage has discovered 2 commercial gas fields, is supplying gas to east coast Australia and holds long term supply contracts with key utilities. Vintage has over 40 PJ of uncontracted 2P
Slide 4: Listing to producer in under years
Listing to producer in under 5 years Timeline culminates with multiple milestones in 2023 2018 ASX Listing For personal use only 2020 Vali gas discovery ▪ Transition from explorer to producer Nangwarry discovery in 4.5 years 2021 Odin gas discovery ▪ Vali discovery to revenue generation ~ 3 years 20
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 Production • Vali, commenced Feb 23 3 Cooper Basin 6 • Odin, to commence Sep 23 Reserves & resources 4 Otway Basin • 50
Slide 6: Vali gas field
Vali gas field Vintage operated. Appraisal by production. Overview Vintage Energy Vali 2P gas reserves For personal use only ▪ Total 2P reserves 101 PJ1 (gross; Vintage share 50.5 PJ) by contract status, 50.5 PJ ▪ 3 wells completed, connected to Moomba gathering system at Beckler ▪ Gas processed and
Slide 7: Odin gas field
Odin gas field Vintage operated. Connected to Moomba infrastructure and approaching production. Overview For personal use only ▪ 1 well, Odin-1, drilled and completed, flowed 6.5 MMscfd from Epsilon and Toolachee formations1 ▪ 2C gas: 39 PJ (gross; Vintage share ~19 PJ) 2 ▪ Connected to Moomba via V
Slide 8: 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 9: 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 ▪ Natural supply accounts for less than 10% of ▪ Food-grade and industrial-grade CO2 is a Australian CO2 production capacity broadly- sought essential input – food and
Slide 10: Exploration
Exploration Portfolio features a mix of proven petroleum provinces with high potential frontier acreage Galilee Basin Bonaparte Basin PCA’s 319 - 324(“Deeps”) For personal use only EP 126 Albany-1 & Albany-2 gas wells Includes Cullen well (gas shows) JV planning future activities Awaiting government
Slide 11: Approaching events
Approaching events Odin start-up to drive uplift in production and revenue generation. Odin gas field For personal use only ▪ Finalising connection for commissioning ▪ Production start up ▪ Expansion in production and revenue base from 1 to 2 fields> additional revenue and cash flow generation ▪ Con
Slide 12: Wrap-up: takeaways
Wrap-up: 3 takeaways 1. Production, revenue and cash flow are set to grow with the impending Odin start-up For personal use only ▪ Gas production to expand to 2 fields ▪ Odin field scheduled to come online September 2023 2. Vintage is exceptionally placed to benefit from east coast gas demand ▪ Over
Slide 13: Appendices
For personal use only Appendices
Slide 14: Strategy
Strategy Concentration on value-creating opportunities where a clear, low-risk commercial case is supported by board and team expertise For personal use only Gas Long term stable cash generation by finding, ▪ Build & leverage gas reserves in Vali-Odin gas hub developing and supplying gas to domestic
Slide 15: Reserves and resources
Reserves and resources 51 PJ Proved and Probable Reserves. 65 PJ 2C Contingent Resource. For personal use only Proved and probable1 gas: Vali Contingent Resource1 Sales gas PJ Joint venture Vintage share Sales gas PJ Vintage share Contracted: base 9 4.5 Galilee Basin 46 Contracted: upside 7 3.5 Coop
Slide 16: Finance & funding
Finance & funding For personal use only ▪ Cash and cash equivalents as at 30 June 2023: $7.05 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 occurred in June 2
Slide 17: Southern Australian gas supply and contract outlook
Southern Australian gas supply and contract outlook Field decline and demand projections suggest tight market conditions will persist For personal use only Near term delivery outlook lower than anticipated Opportunities for contracting gas to expand Actual and forecast maximum daily production capac
Slide 18: Otway Basin
Otway Basin 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, renewable ▪ Prospective for gas, as shown by South Australian Penola Trough production ▪ Preparing for
Slide 19: 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 20: 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
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