Past year: ▼ 60%(0.15c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
30 Apr 2020quarterly activities report● Neutral
March quarter report recaps the Vali 2C resource, the Nangwarry CO2 discovery, the PRL 211 and Cervantes farm-ins, and the subsequent placement and share purchase plan at $0.036. Vintage defers discretionary spending for COVID-19; flow testing is planned. Mostly restates known items; the text is truncated.
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.
31 Jan 2020quarterly activities report● Neutral
December quarter report recaps the Vali-1 ST1 gas discovery, Nangwarry-1's ~90% CO2 column, the Cervantes farm-in signed 17 January and the NT reserved-area consultation. Albany stimulation is delayed by rain. Mostly restates known results; the text shown is truncated and gives no cash figures.
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.
21 Jan 2020drilling progress report● Neutral
Vali-1 ST1 is cased and suspended and the rig released. Nangwarry-1 is also suspended, with further samples consistent with ~90% CO2. Albany-2 flowback has recovered 63% of fluid, with gas comparable to Albany-1 and CO2 under 1%. Albany-1 ST1 stimulation is expected by month-end.
20 Jan 2020farm in farm out agreement▲ GoodMajor
Per Metgasco, the binding L14 Cervantes farm-out was executed, as set out in the 15 Nov 2019 term sheet. Vintage funds 50% of the well for 30%, plus $200k in payments. Drilling is planned for Q3 CY2020, gross cost $5-7m. This resolves the open 18 Dec agreement.
16 Jan 2020joint venture update▲ Good
Metgasco, free carried on 25%, repeats the Vali-1 ST1 gas discovery with over 35 m of net pay in the Patchawarra. It expects well cost at or below the $5.3m cap. Restates Vintage's release.
16 Jan 2020drilling result▲ GoodMajor
Vali-1 ST1, Vintage's first operated well in ATP 2021, discovered gas: over 35 m of net pay in the Patchawarra, on the high side of pre-drill estimates. Also gas in the Nappamerri, possible Toolachee pay and oil shows. Cased and suspended; resource re-assessment to follow.
16 Jan 2020drilling result▼ BadMajor
Lab tests show the Nangwarry-1 top Pretty Hill gas is about 89-92% CO2, not mainly hydrocarbon gas as the prior day's discovery claim implied. Vintage points to liquid CO2 sales at nearby Caroline-1 (1968-2017) as a possible path. This sharply weakens the gas-discovery story.
15 Jan 2020drilling result▲ GoodMajor
Nangwarry-1 is declared a new field gas discovery, with at least 65 m of gross gas column in the top Pretty Hill; well cased and suspended. Early gas samples show CO2 up to ~45%, with lab testing pending. The mid-Pretty Hill is unevaluated.
14 Jan 2020joint venture update▲ Good
Metgasco reports Vali-1 ST1 reached 3,217 m with gas saturation in multiple upper Patchawarra sands. It says gross well cost is expected at or below the $5.3m cap. Restates Vintage's update.
14 Jan 2020drilling result▲ Good
Nangwarry-1 shows a gas column of at least 65 m at the top of the Pretty Hill, narrower than the ~120 m flagged a week earlier. Vali-1 ST1 hit TD at 3,217 m with gas in multiple Patchawarra sands. Albany-1 ST1 stimulation slips to month-end and reverts to the original method.
7 Jan 2020drilling progress report▲ Good
Nangwarry-1 reached 4,300 m; early logs show gas saturation over a ~120 m section, with a further 160 m of shows unevaluated after a stuck logging tool. Vali-1 ST1 is at 3,059 m with more gas shows. Albany-1 ST1 stimulation is still pending.
7 Jan 2020joint venture update● Neutral
Metgasco, free carried on 25% of Vali-1 ST1, repeats that the well is at 3,059 m with gas shows in the Patchawarra, and that drilling is slow. Restates Vintage's update; no new information.
31 Dec 2019joint venture update● Neutral
Metgasco repeats that Vali-1 was side-tracked after deviating over 24 degrees and is now at 2,657 m with high gas shows. Total depth is expected by the end of the week. Restates Vintage's update.
31 Dec 2019drilling progress report● Neutral
Nangwarry-1 is at 4,230 m with elevated gas over several zones, significance awaiting logs. Vali-1 deviated over 24 degrees and was plugged back and side-tracked, now straight and at 2,657 m with high gas shows. Albany-1 ST1 stimulation is targeted for 8 January.
24 Dec 2019joint venture update● Neutral
Metgasco reports Vali-1 drilling to schedule at 2,106 m, with oil shows in Jurassic sandstones that are not considered a viable target at Vali. Repeats the Vintage operations update.
24 Dec 2019admin correction● Neutral
Corrects the earlier 24 December update: Vali-1's 2,081 m depth was in the Nappamerri Group, not the Westbourne Formation. Nothing else changes.
24 Dec 2019joint venture update● Neutral
Operator Comet Ridge completed stimulation of Albany-2, treating two stages; a third deeper stage was skipped because pressure would exceed the wellhead rating. The equipment moves to Albany-1 for a four-stage job after the holiday break. Flow results are still to come.
24 Dec 2019drilling progress report● Neutral
Nangwarry-1 is ahead of schedule at 3,510 m with gas shows in Pretty Hill sandstones, not yet confirmed as pay. Albany-2 stimulation is complete and gas is detected in flowback. Vali-1 is at 2,081 m with oil shows; extended Albany flow tests slip to late January.
