Vintage Energy Ltd. · ASX:VEN
Vintage Energy — MST Conference (June 2021)
28 slides from Vintage Energy's conference presentation, Jun 16, 2021
Slide 1: Transitioning to a gas producer
Transitioning to a gas producer
Slide 2: Vintage Energy: Three Growth Projects
Vintage Energy Active operational period delivering success through the drill bit Vintage technical team delivered 100% success rate from wells drilled to date • Listed September 2018 • Oil and gas exploration and appraisal focus • Three successful Cooper Basin gas wells drilled (two exploration) Th
Slide 3: Quality portfolio of permits
Quality portfolio of permits Geographically diverse and gas focused portfolio; cash flow anticipated in H1 2022 • Growing, multi-permit, • Multiple oil and gas Bonaparte footprint play types in Basin • ATP 2021: Commercial frontier region Cooper / gas field proven at Vali Eromanga • PRL 211: Odin-1
Slide 4: Three gas fields discovered
Three gas fields discovered Three successful exploration wells and one successful appraisal well VALI FIELD VALI FIELD ODIN FIELD NANGWARRY FIELD Vali-1 ST1 exploration well Vali-2 appraisal well Odin-1 exploration well Nangwarry-1 exploration Interpreted gas pay in well First operated well Gas show
Slide 5: Projected eastern and south-eastern gas production vs demand
Projected eastern and south-eastern gas production vs demand New gas discoveries required to meet forecast demand Forecast east coast gas supply vs 2019 demand • Federal Govt has identified gas companies and the delivery of gas to market as an essential service • Forecast demand, underpinned by LNG,
Slide 6: Cooper / Eromanga Basin
Cooper / Eromanga Basin —_u VINTAGE ENERGY
Slide 7: Building a sizeable footprint in the Cooper Basin
Building a sizeable footprint in the Cooper Basin Acquiring permits with familiar geology for best chance of success • Total acreage position of 862.8 km2 ATP 2021 • Farm-in for 50% and operatorship (July 2019) • Two successful wells (Vali-1 ST1 and Vali-2); Vali-3 currently drilling • Vali-1 ST1 fr
Slide 8: Cooper / Eromanga Basins – Southern Flank (ATP 2021)
Cooper / Eromanga Basins – Southern Flank (ATP 2021) Vali-1 ST1 extended flow test at 4.3 MMscfd through 36/64” choke at 942 psi wellhead pressure • Vintage 50% and operator (Metgasco Ltd 25%, Bridgeport Cooper Basin Pty Ltd 25%) • Vali-1 ST1 the first operated well for Vintage • Fracture stimulatio
Slide 9: Cooper / Eromanga Basins – Southern Flank (ATP 2021)
Cooper / Eromanga Basins – Southern Flank (ATP 2021) Vali-2 delivers greater net gas pay than Vali-1 ST1 and cased for production • Vali-2 drilled to appraise Patchawarra gas discovery and assess potential for gas in a Toolachee Formation four-way dip closure (not tested in Vali-1 ST1) • Log data co
Slide 10: Cooper / Eromanga Basins – Southern Flank (ATP 2021)
Cooper / Eromanga Basins – Southern Flank (ATP 2021) Reserves increase anticipated due to Toolachee net gas pay identified in Vali-2 • Prior to drilling Vali-2, ERCE independently certified Vali Field 2P Reserves1 of 33.2 PJ (gross) • Increase to Reserves expected as reserves only reflect gas in the
Slide 11: Vali Field development concept
Vali Field development concept Potential nine well development targeting field life of ~20 years (based on 2P Reserves) • Flow test results, along with field and analogue well data analysis, indicate ~5 MMscfd raw gas initial rate and ~5 Bcf of raw gas per well • Potential for Vali Field nine well v
Slide 12: Cooper / Eromanga Basins – Southern Flank (PRL 211)
Cooper / Eromanga Basins – Southern Flank (PRL 211) Odin-1 cased for production with gas shows in Toolachee, Epsilon and Patchawarra formations • Vintage (operator with 42.5%), Bridgeport CB (21.25%) and Metgasco (21.25%) free carry Beach Energy (15%) for Odin drilling • Odin-1 cased early June as a
Slide 13: Cooper / Eromanga Basins – Southern Flank (PRL 211)
Cooper / Eromanga Basins – Southern Flank (PRL 211) Odin structure is a Vali ‘look-a-like’ • Odin is a Permian four-way dip closure plunging to the north-east into the Nappamerri Trough • Gas pay identified in primary Toolachee and Patchawarra formations, and also in secondary Epsilon Formation • Up
Slide 14: Successful gazettal bid – PELA 679
Successful gazettal bid – PELA 679 Analogous to prolific Western Flank oil play; Pennington and Bauer oil fields up-dip of Permian stratigraphically trapped gas at Middleton • Successful bid for 393 km2 Block CO2019-E (PELA 679) in south- west of SA Cooper Basin • 2D seismic data limited and poor qu
Slide 15: Otway Basin
Otway Basin —_u VINTAGE ENERGY
Slide 16: Otway Basin
Otway Basin Nangwarry-1 CO2 discovery potentially capable of commercial production over 30+ years PRL 249 (exPEL 155) • Nangwarry CO2 discovery • Successful well testing flowed CO2 at stabilised rate of 10.5-10.8 MMscfd • Possible production for 30+ years • Potential for reliable source of food grad
Slide 17: Otway Basin
Otway Basin Nangwarry-1 CO2 production test successfully completed with commercial flow rates confirmed • Nangwarry-1 perforated across the targeted zones in the Top Pretty Hill Formation • Production test delivered 10.5-10.8 MMscfd through a 48/64” choke at a flowing wellhead pressure of 1,415 psi
Slide 18: Otway Basin – Central Penola Trough
Otway Basin – Central Penola Trough “The Caroline-1 CO2 well….the single most profitable well in South Australia”1 • Caroline-1 discovered by Alliance Oil Development Australia in 1967 – Located southeast of Mt Gambier – Eventually owned by Air Liquide Australia Ltd • CO2 produced from 1967 until 20
Slide 19: Commercial CO2 uses
Commercial CO2 uses Australia currently lacks a stable and reliable source of food grade CO2 • Food grade CO2 in high demand • Australia currently lacks a reliable and steady supply since the depletion of onshore Otway Basin well Caroline-1 in 2017 • Main industrial uses for food grade CO2 include:
Slide 20: Perth Basin
Perth Basin —_u VINTAGE ENERGY
Slide 21: Perth Basin – Oil potential
Perth Basin – Oil potential Equity interest in Cervantes oil prospect and option to drill a second structure • L14, located within the Perth Basin, is a 39.8 km2 production licence granted over the Jingemia oilfield and surrounds Farm-in structure • Binding farm-in agreement executed for 30% of the
Slide 22: Perth Basin – Oil potential
Perth Basin – Oil potential Adjacent to the 12 MMbbl oil in place Jingemia oil field (over 4.6 MMbbl produced to date) • Cervantes structure located in a gap between the oil discovery trend of the Hovea, Jingemia and Cliff Head oil fields – High-side fault trap of multiple reservoir units (similar s
Slide 23: Appendices
Appendices —_u VINTAGE ENERGY
Slide 24: Key ingredients for success
Key ingredients for success Vintage technical team has delivered a 100% success rate from wells drilled to date ASSET PORTFOLIO CAPABILITY Identify and access quality permits through Ex-Beach Energy technical staff with a history industry contacts of exploration discoveries in the Cooper Basin Techn
Slide 25: Historic timeline of key activities
Historic timeline of key activities Increased activity over the first half of 2021 2015 2016 2017 2018 2019 2020 2021 25 June 2021
Slide 26: Other permits
Other permits Galilee Basin – ATPs 743, 744, 1015 (“Deeps”) • Underexplored and areally extensive permits of more than 9,000 km 2 • Albany Field is a large robust anticlinal structure over 61 km2 • Targeting Lake Galilee Sandstone, with potential follow up wells • Potential for additional structures
Slide 27: 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
Slide 28: 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