Past year: ▼ 60%(0.15c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 Aug 2019drilling progress report● Neutral
Operator Comet Ridge reports Albany-2 reached 2,452 m, just into the top of the Lake Galilee Sandstone, with 7-inch casing being cemented. About 300 m of coring to 2,752 m follows; stimulation is still planned for Q4 2019. No flow result yet.
13 Aug 2019drilling progress report● Neutral
Albany-2 is drilling ahead at 1,848 m toward the 2,430 m casing point, with the 31-day programme unchanged. Completing the well takes Vintage's stake from 15% to 30%. No new result.
12 Aug 2019drilling progress report● Neutral
Operator Comet Ridge reports Albany-2 drilling ahead at 1,795 m, with surface casing set and cemented. Plan unchanged: Albany-1 sidetrack in September, stimulation in Q4. No new result.
6 Aug 2019drilling progress report● Neutral
Albany-2 is drilling ahead at 853 m after setting surface casing at 708 m, toward a planned 2,752 m. It notes APA's pipeline survey licence. No new result.
5 Aug 2019regulatory community update▲ Good
Comet Ridge reports APA has been granted a Survey Licence for the proposed Galilee Moranbah Pipeline, allowing field work and stakeholder talks. This advances the May MOU, which Vintage joined. Pipeline economics still depend on Albany drilling and stimulation succeeding.
5 Aug 2019regulatory community update▲ Good
APA announces its Survey Licence for the roughly 240 km Galilee Moranbah Pipeline, which it would build, own and operate. It is progress under the MOU with Comet Ridge and Vintage. Same news as the Comet Ridge release.
30 July 2019regulatory community update▼ BadMajor
A Northern Territory plan to reserve about 50% of the territory as no-go zones covers much of EP 126, including Cullen-1. Vintage has made a submission, but the timing is unclear, so the Cullen-1 flow test slips from the 2019 dry season to early in the 2020 dry season. Delays the Firetail-backed test.
30 July 2019drilling spud▲ GoodMajor
Operator Comet Ridge reports Albany-2 spudded 30 July 2019 after rain delays, with 31 days to a planned 2,752 m. Albany-1 sidetrack follows in September, then stimulation and production testing in Q4. Drilling funds Vintage's rise from 15% to 30%.
30 July 2019drilling spud▲ Good
Vintage confirms Albany-2 spudded 30 July 2019, targeting a 280 m thick Lake Galilee Sandstone at about 2,430 m, with coring planned. Stimulation of both wells follows later in 2019. Vintage has booked 23 PJ net 2C for its 15%; gross 2C is 153 PJ. Same event as the operator's release.
12 July 2019drilling result▲ Good
Comet Ridge reports first-pass interpretation of the Koburra seismic added four new leads and confirmed a closed structure of about 20 km2 at Lake Galilee, 24 km south of Albany. Lake Galilee-1 appears drilled at the structure's edge, implying up-dip potential. Resolves the seismic-interpretation thread.
12 July 2019resource reserve update▲ GoodMajor
Vintage says Koburra seismic and reprocessing of 896 km of old data lifted Galilee leads and prospects to 27, four more than before. A lead at Lake Galilee is now 'drill ready'. Further seismic is expected; no drilling date or resource figure given.
8 July 2019drilling scheduled▲ Good
Vintage repeats the operator's news that Easternwell Rig 106 is secured, via a rig-sharing agreement with Beach, for Nangwarry-1 in PEL 155 (Vintage 50%), spud October/November 2019. Well takes about 45 days; gross prospective resource 57 Bcf. Same news as earlier Lakes Oil release.
8 July 2019drilling scheduled▲ Good
Partner Lakes Oil says its subsidiary Otway Energy has secured Easternwell Rig 106 for Nangwarry-1 in PEL 155 (Vintage 50%), spud expected October/November 2019. A $4.95 million South Australian PACE grant partly funds the well; gross prospective resource is 57 Bcf.
2 July 2019farm in farm out completion▲ GoodMajor
Vintage executed the binding ATP 2021 farm-in agreement and joint operating agreement with Metgasco on the May terms. It manages first-well planning now, with the 50% interest and operatorship transferring after ministerial approval. Turns the May heads of agreement into a signed deal.
2 July 2019farm in farm out completion▲ Good
Metgasco says the ATP 2021 farm-out agreement and joint operating agreement with Vintage are signed on the May terms. Transfer of 50% awaits ministerial approval, expected this month. Vali well now targeted for Q4 2019, a shift from earlier second-half timing.
25 June 2019drilling progress report● Neutral
Ensign Rig 932 is moving from Moomba to the Galilee Basin; the Albany-2 pad and camp are finished. Spud is now expected early July 2019, a further slip from late June. Albany-2 is to be cored and sits about seven kilometres from Albany-1.
30 May 2019material agreement▲ Good
Comet Ridge's version of the APA memorandum: it replaces a 2016 MOU, with Vintage now joining. APA will do route surveys and apply for a Pipeline Survey Licence. Repeats Vintage's same-day announcement.
30 May 2019material agreement▲ GoodMajor
Vintage, Comet Ridge and APA Group signed a memorandum of understanding for APA to study a pipeline route linking the Galilee Basin to east coast markets. They agreed a framework to negotiate a gas transport agreement, under which APA would build and own the pipeline. Non-binding.
28 May 2019drilling progress report● Neutral
Vintage repeats the operator's update: rig mobilisation early to mid-June, Albany-2 spud expected late June, then the Albany-1 sidetrack. Condor is the preferred stimulation provider. Stage 2 completion would lift Vintage from 15% to 30%. No new result.
28 May 2019drilling progress report● Neutral
Operator Comet Ridge says Albany-2 pad construction is nearly done and Ensign Rig 932 should move in early to mid-June, with spud about two weeks later. Condor Energy Services is the preferred stimulation contractor, with stimulation late in Q3 2019.
22 May 2019farm in farm out agreement▲ Good
Metgasco's side of the same deal: Vintage to earn 50% and operatorship of Cooper Basin permit ATP 2021 by funding 65% of the first well (up to $5.3m gross) plus $527,800 back-costs. First well planned on the Vali prospect in the second half of 2019.
22 May 2019farm in farm out agreement▲ GoodMajor
Vintage enters the Cooper/Eromanga Basins, signing a binding heads of agreement to earn 50% and operatorship of the 370 km2 ATP 2021 from Metgasco. It funds 65% of the first well (up to $5.3m gross) and $527,800 of past costs; ministerial approval is needed.
8 May 2019farm in farm out agreement▲ GoodMajor
Vintage signed a binding heads of agreement for Firetail Energy Services to earn 10% of EP126 by providing $850,000 of services toward the $3.2 million Cullen-1 test. Vintage keeps 90% and operatorship. This delivers the planned farm-down; it is subject to approvals.
10 Apr 2019investor presentation● Neutral
Taylor Collison East Coast Gas Day presentation repeating the March deck: net cash $28.6 million, market value $40.0 million, and the Galilee two-well program now due to start in May 2019 rather than April.
5 Apr 2019drilling progress report● Neutral
Operator Comet Ridge says seismic processing is under way, with possible new leads near Lake Galilee-1 and a new anticline about 25 km north. Heavy rain means Albany-2 will not spud before early May. Repeats Vintage's same-day update.
5 Apr 2019drilling progress report● Neutral
Early seismic processing shows several possible leads near Lake Galilee-1 and new structural trends. Heavy rain has delayed rig mobilisation, so Albany-2 will not spud before early May, pushing back the Stage 2 wells.
21 Mar 2019investor presentation● Neutral
March investor presentation showing net cash of $28.6 million at 31 December 2018 and a market value of $44.0 million. It repeats known assets and says the two-well Galilee drilling is due in April 2019.
13 Mar 2019half year report● Neutral
Half-year report to 31 December 2018 covering the Albany-1 result, the Koburra seismic and the Stage 2 farm-in, with an Albany-1 re-entry expected April/May 2019. Shown text is truncated before the financial statements, so no figures are available.
5 Mar 2019drilling progress report● Neutral
Operator Comet Ridge reports the 336 km Koburra seismic survey finished on 2 March with good-quality raw data. The Albany-2 pad build begins soon; the rig move is two to three weeks behind plan. Repeats Vintage's own update of the same day.
5 Mar 2019drilling progress report▲ Good
The 336 km Koburra seismic survey finished on 2 March; Vintage's 15% rises to 30% once seismic and the Albany-2 and Albany-1ST1 wells are done. Interpretation is expected in Q4 FY19, and the rig is delayed by rain.
