Past year: ▼ 60%(0.15c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
31 July 2019quarterly activities report● Neutral
June quarter report recaps Albany-2 spud, the APA MOU, the ATP 2021 farm-in signing, a Firetail partner for EP 126, and the Nangwarry-1 rig. Seismic produced 27 leads and prospects. No new results; the report text provided is truncated and gives no cash figures.
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.
