Past year: ▼ 60%(0.15c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Nov 2019other▲ Good
Vintage summarises the two-well Albany appraisal: structure, gas presence and reservoir continuity confirmed, with log porosities up to 15%. Albany has a certified gross 2C of 153 PJ. Condor is expected early-mid December to stimulate and flow test; commercial viability is still unproven.
29 Oct 2019listing compliance notice● Neutral
Replying to an ASX query on its $2.35m quarterly cash burn and $17.6m cash, Vintage says it expects about $14.5m spend by March 2020, then roughly $900k a quarter admin. It does not plan to raise capital unless new projects arise.
29 Oct 2019drilling progress report▲ Good
Comet Ridge reports Albany-1 sidetrack logging is complete, 4.5 inch casing is cemented and the rig released. Stimulation and flow testing are planned for early December. Same news as Vintage's release, with the full 130 m of reservoir now open.
29 Oct 2019joint venture update▲ Good
Vintage confirms Albany-1 ST1 logs show good wellbore quality and gas in multiple sands; it is cased to 2,822 m. Condor's stimulation unit is due first week of December, with flow test results expected January 2020, later than the earlier 'late 2019'.
22 Oct 2019drilling result▲ Good
Vintage reports the Albany-1 sidetrack reached 2,822 m, with strong gas shows in multiple zones, including the B sand that flowed 230,000 scf/d in 2018 and deeper sands Albany-1 had not reached. Logging is next; flow rates still unproven until stimulation.
22 Oct 2019other● Neutral
Appendix 4G corporate governance checklist, dated 17 October 2019, accompanying the annual report and pointing to the governance statement on the company website. Administrative, no substantive news.
22 Oct 2019drilling result▲ Good
Comet Ridge reports the Albany-1 sidetrack reached total depth of 2,822 m with strong gas shows through all four thick sandstone packages. All can now be stimulated. Logging starts tomorrow; gas rates are still untested.
22 Oct 2019annual report● Neutral
2019 annual report lodged, with the AGM set for 26 November 2019 in Adelaide. The chairman says Galilee flow testing is targeted toward year end, Vali-1 and Nangwarry-1 are expected later this year, and Bonaparte has no activity due to the NT reserved-area consultation.
15 Oct 2019drilling progress report● Neutral
Albany-1 sidetrack has started after the whipstock was set and casing milled, and is drilling through the Lake Galilee Sandstone target. No result yet; wireline logs, casing, then stimulation and flow testing later this year.
8 Oct 2019drilling progress report● Neutral
Comet Ridge reports the rig has moved to Albany-1 and is plugging the old wellbore before milling through casing, with sidetrack drilling expected later this week to a planned 2,788 m. Same news as Vintage's release.
8 Oct 2019drilling progress report● Neutral
Vintage reports the rig is rigged up at Albany-1, the 2018 bridge plug has been milled out, and cement plugs and a whipstock come next. Sidetrack drilling is expected later this week. Stimulation and flow testing remain planned for later in the year.
1 Oct 2019investor presentation● Neutral
October 2019 non-deal roadshow deck recaps Galilee at 30% (net 2C 46 PJ), Albany-2 drilled and cored, Albany-1 ST1 preparing, flow testing late 2019, Nangwarry-1 and Vali-1 late 2019, and the Firetail deal. Repeats known facts.
1 Oct 2019joint venture update● Neutral
Partner Metgasco notes Vintage's Vali work doubled gross prospective resource to 38.1 Bcf from its November 2018 estimate of 19 Bcf, because of a larger mapped closure and a lower porosity cut-off. Repeats Vintage's release and the late-2019 spud plan.
1 Oct 2019drilling scheduled▲ GoodMajor
As operator of ATP 2021, Vintage signed a letter of intent with Schlumberger for rig SLR-185 to drill Vali-1, expected to spud late 2019. It reported Vali's first prospective resource as 17.6 Bcf net (35.1 Bcf gross), with a 34% chance of success.
1 Oct 2019joint venture update● Neutral
Casing (4.5 inch) is cemented in Albany-2 to 2,599 m, leaving upper reservoir sands available for stimulation. The rig has moved to Albany-1 for the sidetrack, which resolves the earlier casing and rig-move delay. Condor will stimulate both wells later this year.
27 Sept 2019annual report● Neutral
Vintage lodges its financial report for the year to 30 June 2019, its first full year after the Sept 2018 listing. The extract shows only directors' details and contents; no financial figures are readable in the supplied text.
24 Sept 2019drilling progress report● Neutral
Vintage says fishing recovered only part of the stuck logging tool, with the remainder left below the casing. Casing is being run at Albany-2, then the rig moves to Albany-1. Condor Energy Services is contracted to stimulate both wells.
24 Sept 2019drilling progress report● Neutral
Operator reports the logging tool was only partly recovered, with the rest left below the production casing now being run in Albany-2. The rig then moves to Albany-1 for the sidetrack. Condor Energy Services will stimulate both wells. Same news as Vintage's release.
17 Sept 2019drilling progress report● Neutral
Vintage repeats that a logging tool stuck in Albany-2 is being fished out, delaying the rig move to Albany-1 until the sidetrack late next week. Logs show 12-15% porosity and gas. Same news as the operator's release.
17 Sept 2019drilling progress report● Neutral
Operator reports Albany-2 logs show good reservoir quality, gas, and porosity up to 15%. A logging tool got stuck and is being fished out, delaying the Albany-1 sidetrack to about late next week. 4.5-inch casing follows; stimulation remains Q4.
11 Sept 2019investor presentation● Neutral
Good Oil conference presentation recaps Galilee at 30% (net 2C 43 PJ), Nangwarry-1 and Vali-1 planned late 2019, and Cullen-1 testing. States net cash of $20.0m at 30 June 2019 and market capitalisation of $45.0m. Mostly repeats known facts.
10 Sept 2019drilling result▲ GoodMajor
Operator reports Albany-2 reached total depth of 2,702 m (planned 2,752 m). Early logs show the upper 13 m of reservoir with 12-15% porosity, above pre-drilling expectations and better than Albany-1. Gas flow is still untested until stimulation.
10 Sept 2019drilling result▲ Good
Vintage reports Albany-2 reached 2,702 m on 6 September, with quick-look logs indicating gas. The rig moves to the Albany-1 sidetrack later this week. Core analysis continues; stimulation and flow testing planned later this year.
3 Sept 2019drilling progress report▲ Good
Operator reports Albany-2 at 2,605 m with 62 m of core taken, mostly sandstone with gas shows, and signs of permeability. Also confirms Vintage's move to 30% and the unchanged 153 PJ gross 2C. Encouraging, but no flow test yet.
3 Sept 2019drilling progress report▲ Good
Vintage reports increased gas readings at Albany-2, with 62 m of core recovered and coring complete; drilling ahead at 2,605 m. Notes its doubled net 2C of 43 Bcf. Stimulation and flow tests of both wells follow later in 2019.
2 Sept 2019resource reserve update▲ GoodMajor
Vintage reached the $10m gross Stage 2 funding point, lifting its Galilee Deeps JV interest from 15% to 30%. Its net Albany contingent resource doubles to 16/43/116 Bcf (1C/2C/3C). Completes the farm-in step flagged earlier.
29 Aug 2019farm in farm out agreement▲ Good
Partner Metgasco signs a binding deal for Bridgeport (Cooper Basin) to earn 25% of ATP 2021 by funding 32.5% of the first well (up to $5.3m gross). Metgasco keeps 25%. It adds a further partner alongside Vintage's farm-in, with Vali-1 still planned for Q4 2019.
27 Aug 2019drilling progress report● Neutral
Vintage repeats that coring began 25 August at Albany-2, with a 27 m core fully recovered and predominantly sandstone. Planned depth remains 2,752 m. Same event as the operator's release; no new result.
27 Aug 2019drilling progress report▲ Good
Operator reports the first 27 m core was cut in Albany-2 (2,455-2,482 m) with 100% recovery, predominantly sandstone. It is the first core from the Albany field. Drilling continues toward the next core point; no gas or flow result yet.
20 Aug 2019drilling progress report● Neutral
Vintage repeats that Albany-2 is at its 2,452 m casing point with casing being cemented before coring the Lake Galilee Sandstone. Vintage's stake is moving from 15% to 30% during the programme. Same news as the operator's release; no new result.
