Past year: ▼ 60%(0.15c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 July 2020drilling progress report▲ Good
All six Vali-1 ST1 fracture stimulation stages are complete. Gas was flared briefly from the two deepest zones, but this was not a flow test. Flow testing starts in coming days; 37.7 Bcf gross 2C is unchanged (18.8 Bcf net to Vintage).
16 July 2020drilling progress report● Neutral
Metgasco, Vintage's 25% partner in ATP 2021, repeats that stage one of the six-stage Vali-1 ST1 fracture stimulation finished 15 July, with five Patchawarra stages due in about 10 days. Restates the operator's 16 July update; Metgasco's net share is 9.4 Bcf of the 37.7 Bcf 2C.
16 July 2020drilling progress report▲ Good
Stimulation of Vali-1 ST1 began 12 July and stage one, in the deepest Tirrawarra Sandstone, was completed 15 July. The remaining five stages are expected within about 10 days, then flow testing. This is the first of six planned stages, with no flow result yet.
8 July 2020drilling progress report● Neutral
Partner Metgasco repeats that Vali-1 ST1 stimulation is due to start 12 July, then testing. It cites 9.4 Bcf net 2C resource (25%) and 80 m of targeted net gas pay. Restates the operator's release from the partner's side.
8 July 2020other● Neutral
Director Ian Howarth acquired 3,305,556 shares at $0.036 on 7 July in the directors' placement approved at the 29 June general meeting, lifting his holding to 11,966,732 ordinary shares.
8 July 2020other● Neutral
Managing Director Neil Gibbins acquired 3,305,556 shares at $0.036 on 7 July in the directors' placement approved at the 29 June general meeting, taking his holding to 12,144,419 ordinary shares.
8 July 2020other● Neutral
Chair Reg Nelson acquired 4,083,333 shares at $0.036 on 7 July in the directors' placement approved at the 29 June general meeting, lifting his holding to 13,494,696 ordinary shares. This completes the director participation that needed shareholder approval.
8 July 2020drilling progress report▲ Good
Condor's equipment is being mobilised and site preparation is complete. Vali-1 ST1 fracture stimulation is expected to start 12 July, followed by flow testing. Gross 2C resource remains 37.7 Bcf. The company also notes its wider Cooper Basin footprint, including the new PELA 679 block.
6 July 2020capital raising announcement● Neutral
Application for quotation of shares issued under the 30 April placement notice, with no further issues to complete it. The text is truncated and the share number is not shown. Administrative, likely linked to the directors' placement shares approved at the general meeting.
30 June 2020asset acquisition disposition▲ GoodMajor
Vintage won a competitive bid for Cooper Basin block PELA 679 (393 km2) in South Australia, with five oil prospects identified on sparse 2D seismic. Once land access is agreed it holds 100%, with a work program of 100 km2 of 3D seismic and two wells over five years; a partner may be sought.
12 June 2020other● Neutral
Director Nick Smart bought 166,790 shares at $0.036 through the share purchase plan on 2 June, taking his holding to 6,077,967 ordinary shares. Routine director interest notice.
12 June 2020other● Neutral
Chair Reg Nelson bought 250,186 shares at $0.036 through the share purchase plan on 2 June, lifting his holding to 9,411,363 ordinary shares. Routine director interest notice.
12 June 2020other● Neutral
Managing Director Neil Gibbins bought 250,186 shares at $0.036 through the share purchase plan on 2 June, lifting his holding to 8,838,863 as stated in the notice. Routine director interest notice.
3 June 2020drilling progress report▲ Good
Condor is engaged for a six-stage Vali-1 ST1 fracture stimulation from early July, followed by flow testing, with results expected early August. GPA Engineering is designing the pipeline connection, and talks with Santos on gas infrastructure access have begun. Well integrity is confirmed.
3 June 2020drilling progress report● Neutral
Partner Metgasco restates the operator's 3 June Vali-1 ST1 update: six-stage stimulation from early July, results early August, Santos access talks. Its net share is 9.4 Bcf at 25%. The CEO expects revenue from Vali within 12 months.
26 May 2020capital raising announcement▲ GoodMajor
The share purchase plan closed heavily oversubscribed, so $3.0m is raised in total ($2.25m placement plus $0.75m SPP). Applications will be scaled back, with shares issued 2 June. Cement bond logging on Vali-1 ST1 was completed 21 May; stimulation is due early July.
13 May 2020capital raising announcement▲ Good
Over 75% of the $0.75m share purchase plan is already taken up, following the oversubscribed $2.25m placement at $0.036. Vali-1 ST1 stimulation is on track for early July. Funds go to Vali stimulation, flow testing and tie-in design.
1 May 2020capital raising announcement● Neutral
Offer documents for the share purchase plan open: eligible shareholders can apply for up to $30,000 of shares at $0.036, targeting up to $0.75m. It closes 22 May, with shares issued 2 June. Implements the April raising and adds no new figures.
30 Apr 2020investor presentation● Neutral
Presentation supporting the $0.036 placement and share purchase plan. It sets out Vali stimulation (~$1.4m), flow testing (~$0.3m) and tie-in design (~$0.1m), with first production possible within 12 months subject to approvals. Mostly repeats the raising announcement; the text is truncated.
30 Apr 2020capital raising announcement● NeutralMajor
Vintage completes an oversubscribed $2.25m placement at $0.036 per share (62.5m shares, a 10% discount to last close), plus a planned share purchase plan of up to $0.75m. Funds go to Vali stimulation and flow testing and tie-in design. Directors and management commit $667,000; discretionary exploration is deferred.
15 Apr 2020other● Neutral
Administrative notice: 725,000 shares to be issued on 16 April 2020 on conversion of employee performance rights. No other substance.
11 Mar 2020half year report● Neutral
Half-year to 31 December 2019 shows a loss of $1,155,045, down from $1,686,243, which the report attributes to one-off listing costs in the prior period. The review of operations recaps Vali, PRL 211 and other projects; the text is truncated.
3 Mar 2020resource reserve update▲ Good
Partner Metgasco reports the same certified Vali 2C resource of 37.7 Bcf gross, 9.4 Bcf net to its 25%, and says stimulation and flow testing are planned for Q2 CY2020. Restates Vintage's release from the partner's side.
3 Mar 2020investor presentation● Neutral
March company presentation recaps the Vali and Nangwarry discoveries and upcoming catalysts: Vali stimulation, Odin-1, Albany testing and Cervantes drilling. Shows cash of $9.9m at 31 December 2019 and market cap of $32.0m. Largely repeats known facts; the text is truncated.
3 Mar 2020resource reserve update▲ GoodMajor
Vintage books its first Cooper Basin resource: an independently certified Vali 2C contingent resource of 37.7 Bcf gross (18.9 Bcf net to its 50%). This exceeds pre-drill estimates; stimulation and flow testing are planned before end of financial year, and marketing talks have begun.
24 Feb 2020farm in farm out agreement● Neutral
Partner Metgasco repeats that the binding PRL 211 farm-in was executed, replacing the November term sheet. Vintage becomes operator with 42.5%; Odin well targeted Q4 FY20. Conditions, including ministerial approval, are expected by 31 March 2020. Restates Vintage's own 24 Feb release.
24 Feb 2020farm in farm out agreement▲ GoodMajor
Vintage executed the binding PRL 211 farm-in, replacing the November term sheet: 42.5% and operatorship, paying 50% of the Odin well (~$2.0m). Drilling targeted Q4 FY20. Conditions, including ministerial approval, are expected to be met by 31 March 2020.
4 Feb 2020drilling progress report● Neutral
Albany operations remain suspended by flooding, with Albany-1 ST1 stimulation delayed and no restart date. Vintage says this is the final regular weekly operations update until new field work starts.
29 Jan 2020drilling progress report● Neutral
Rigs at Vali-1 and Nangwarry-1 are demobilised, and these are the last drilling updates for those wells. Heavy rain (~200 mm) suspended Albany work; Albany-2 flowback is complete and it is shut in. Albany-1 ST1 stimulation is delayed, no new date.
29 Jan 2020joint venture update● Neutral
Operator Comet Ridge confirms Albany-2 site was suspended by ~200 mm of rain, after flowback finished. The well is shut in and pressure build-up is monitored. Repeats Vintage's update.
