Past year: ▼ 60%(0.15c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
25 Aug 2020material agreement▲ Good
Vintage and Lakes Oil's 50:50 PEL 155 joint venture signed a non-binding MOU with Supagas, which will fund preliminary design and costing of food-grade CO2 processing facilities for Nangwarry. An extended Nangwarry-1 production test is targeted for late 2020, COVID-19 permitting.
25 Aug 2020material agreement● Neutral
PEL 155 partner Lakes Oil restates the non-binding Supagas MOU for Nangwarry CO2, under which Supagas funds preliminary facility design. An extended Nangwarry-1 production test is planned for late this year. Repeats Vintage's release.
24 Aug 2020director officer appointment● Neutral
Ian Northcott resigned as alternate director to Ian Howarth effective 11 August 2020, and stays on as a consultant. Minor board administration with no change to the main directors.
21 Aug 2020flow test result▲ Good
Partner Metgasco restates the completed Vali-1 ST1 flow test: 4.3 MMscfd stable over two days, all zones contributing, very little condensate (dry gas). Adds that it expects reserves to be booked and aims to be producing next year, subject to gas sales and tariff talks.
21 Aug 2020flow test result▲ GoodMajor
Vali-1 ST1 flow test completed: a stable 4.3 MMscfd over two days, with transients up to 7.5 MMscfd, and all six zones contributing. Initial production could exceed 5 MMscfd. Reserve assessment has begun; completion is planned for October, with Santos tie-in talks continuing.
18 Aug 2020other● Neutral
Vintage publishes its securities trading policy, covering insider trading rules and trading windows for officers and employees. Administrative document with no new business information. Text is truncated.
13 Aug 2020flow test result● Neutral
Partner Metgasco restates that Vali-1 ST1 flow-back peaked at 4.9 MMscfd at 680 psi with about 53% fluid recovery, and the flow-test program has started. Repeats Vintage's release.
13 Aug 2020flow test result▲ Good
Vali-1 ST1 flow-back ended at 4.9 MMscfd at 680 psi, with about 53% of fluid recovered; shut-in pressure rebuilt to about 3,000 psi. The formal flow test has now begun, with results to follow.
6 Aug 2020flow test result▲ Good
During flow-back of stimulation fluid, Vali-1 ST1 reached 3.7 MMscfd at 800 psi wellhead pressure, with about 40% of fluid recovered. Formal flow testing is expected around 10 August. An encouraging early sign, but not the flow test itself.
6 Aug 2020flow test result● Neutral
Partner Metgasco repeats the Vali-1 ST1 flow-back result: 3.7 MMscfd at 800 psi with about 44% of fluid recovered, and final flow testing to start around 10 August. Restates Vintage's release (which cited about 40% recovery).
31 July 2020quarterly activities report● Neutral
June quarter report: Vali-1 ST1 stimulation finished 24 July with flow-back began 26 July; PELA 679 bid won; $2.25m placement and $0.75m SPP completed. Gross 2C stays at 37.7 Bcf. Text is truncated, so cash figures are not visible.
27 July 2020drilling progress report● Neutral
Partner Metgasco restates Vintage's release that all six Vali-1 ST1 stimulation stages are complete, with short flared gas flowbacks from two zones that were not a flow test. Flow testing to follow; Metgasco's net share is 9.4 Bcf.
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.
