Past year: ▼ 60%(0.15c – 0.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Apr 2025quarterly activities report● Neutral
March quarter sales revenue was $1.24m, down 18%, and production 0.11 PJe on lower Odin-2 output. Cash was $2.03m; operating outflow improved to $0.56m. Scale management is said to have worked. Net borrowings were $7.97m.
28 Apr 2025regulatory community update▲ GoodMajor
Queensland renews ATP 2021, home of the Vali field, for six years to May 2030. The renewed area and production licence applications hold 23 oil prospects and leads and 3 gas prospects. Secures tenure for future exploration around Vali and Odin.
28 Apr 2025regulatory community update● Neutral
Joint venture partner Metgasco announces the same six-year ATP 2021 renewal to May 2030, noting Vintage holds 50% and operates. Repeats information in Vintage's own release; no new substance for Vintage holders.
9 Apr 2025joint venture update● Neutral
Joint venture partners approved the Production Uplift Program budgets, but Cooper Basin flooding cuts road access. Vintage now expects the program to start no earlier than June 2025. Production is continuing unaffected.
17 Mar 2025production update▲ Good
Flowline de-bottlenecking lifted raw gas from Odin and Vali to 3.6 MMscf/d from 3.2. Chemical injection at Odin-1 since February is said to have fixed the scale-affected metering. Resolves the metering problem; Production Uplift Program still planned for April.
13 Mar 2025half year report● Neutral
Half-year loss was $2.2m against $12.96m a year earlier, when Galilee and Bonaparte assets were fully written off; nothing was impaired this time. Gas sales revenue was $2.24m (down from $2.73m) on lower production. The Entitlement Offer is confirmed at $0.60m raised.
7 Mar 2025capital raising announcement▼ BadMajor
The entitlement offer raised only about $0.60m of the $2.1m sought, including $0.15m from shortfall. 89.4m retail shares plus 30m shortfall shares are issued with options. About 328m shortfall shares remain available for three months, so the program may be scaled back.
26 Feb 2025capital raising announcement● Neutral
Reminder that the entitlement offer closes 5pm on 28 February as planned, with a top-up facility for participating holders. No new substance.
10 Feb 2025capital raising announcement● Neutral
The entitlement offer opens 10 February and documents go out to shareholders. It closes 28 February unless extended. The chairman says completion is needed to fund the production uplift program. No new terms.
31 Jan 2025director officer appointment● Neutral
Simon Gray is appointed alternate director for Ian Howarth from 30 January 2025. Administrative board change.
31 Jan 2025capital raising announcement● NeutralMajor
Vintage launches a $2.1m 1-for-4 entitlement offer at 0.5 cents, each new share with a free option at 0.9 cents. It funds scale removal at Odin and an attempt to flow the Toolachee at Vali, plus working capital. Follows the April 2024 raise at 1 cent.
31 Jan 2025investor presentation● Neutral
Presentation supporting the $2.1m entitlement offer and the Production Uplift Program at Vali and Odin. It repeats the offer and program already announced. Text is truncated.
31 Jan 2025quarterly activities report● Neutral
December quarter sales revenue was $1.5m, up 105%, with production 0.12 PJe, up 90%. Cash fell to $2.19m from $4.00m. The MD calls Odin-2's performance surprising and disappointing, and the Galilee merger is confirmed terminated.
31 Jan 2025capital raising announcement● Neutral
Prospectus for the 1-for-4 entitlement offer of about 417.3m shares at 0.5 cents with free options at 0.9 cents, to raise about $2.1m. Legal document repeating the terms announced the same day; text is truncated.
What it means for a shareholder
417m new shares at A$0.005 to raise about A$2.1m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.012% to 0.00958% of the company. To keep it you'd need 49,990 more shares - about A$250 at the issue price.
Create a free account to see this worked out for your own holding.
31 Dec 2024director officer appointment● Neutral
CFO Simon Gray, a co-founder, retires as CFO from 1 January 2025 but stays as Company Secretary and consults on finance. Senior Accountant Stephen Munchenberg continues in his role.
17 Dec 2024other● NeutralMajor
Vintage begins a restructure cutting headcount and direct salaries by 41%, about $1.14m a year, with about $0.47m forecast redundancy costs. Chemical injection to curb scale starts at Odin. Builds on earlier cost cuts and the scale findings from the Odin work.
12 Dec 2024business combination▼ BadMajor
Vintage and Galilee mutually terminate the scheme implementation deed signed in October. Both say the deal was no longer in their shareholders' interests and revised terms could not be agreed. Vintage will focus on realising value from its gas and acreage and investigating emerging opportunities.
11 Dec 2024director officer appointment● Neutral
Founding director Nick Smart resigns from the board effective 31 December 2024 due to ill health. He has served since November 2015, when the company was incorporated.
20 Nov 2024investor presentation● Neutral
AGM slide deck with standard disclaimers and risk sections. The visible text carries no new facts. Text is truncated, so the content of the slides is not seen.
20 Nov 2024agm notice● Neutral
All six AGM resolutions passed on a poll, including the remuneration report, Reg Nelson's re-election, ratification of the April placement, the employee incentive plan and the 10% placement capacity. Administrative outcome with no new substance.
20 Nov 2024agm notice● Neutral
Chairman's AGM address says Vintage has about 71 PJ of 2P gas reserves, over 60 PJ uncontracted, and estimates $10-15/GJ term prices. Admits the fields are behind plan, with delays forcing raisings. October field output was 5.45 MMscf/d, versus 2.68 in August. Text truncated.
15 Nov 2024production update▲ Good
Production logging found scale in the metering equipment gave inaccurate readings. Water and gas production at Odin are actually within expected ranges. This resolves the 25 October concern about rising water; the metering fix is a priority.
6 Nov 2024admin correction● Neutral
Revised Appendix 5B replacing the 31 October one, amended only to round all figures to $'000. Cash at 30 September was $4.006m. No change in substance.
31 Oct 2024quarterly activities report● Neutral
September quarter sales revenue was $0.73m, down 33%, with production 0.06 PJe. Cash fell to $4.00m from $7.67m after $2.32m capex and $1.31m operating outflow. Odin-2 began production after quarter-end.
25 Oct 2024production update● Neutral
With both Odin wells online, field output is 5.3 MMscf/d versus 1.4 before the works. Odin-2 has fallen to about 1.7 MMscf/d from 3.0, and water production is rising. Production logging is planned to understand the wells.
15 Oct 2024business combination▲ GoodMajor
Vintage and Galilee signed the binding Scheme Implementation Deed, following the August Heads of Agreement. Galilee holders get 2 Vintage shares per Galilee share, leaving existing Vintage and Galilee holders with about 60% and 40%. Galilee shareholder and other approvals are still required.
15 Oct 2024production update▲ GoodMajor
Odin-2 was brought online on 13 October and was flowing about 3.0 MMscf/d during commissioning, with Odin-1 temporarily offline. Management expected initial field raw gas production of four or more times August's rate once both wells were running.
1 Oct 2024production update▲ Good
Metgasco (25% partner) repeats the operator's 1 October update: Odin-1 up to 3.3 MMscf/d from 1.4 after optimisation, Odin-2 first gas expected mid-October. It expects a significant revenue increase in its Q2 FY25.
1 Oct 2024production update▲ GoodMajor
Odin-1 optimisation and new Patchawarra perforations lifted flow to 3.3 MMscf/d from 1.4. Scale inside the completion packer had been impeding flow. Odin-2 is on track for mid-October start-up; Vali-2's sleeve is open but flow is unchanged.
30 Sept 2024annual report● Neutral
FY24 annual report. The chairman cites weather-hit operations and lower-than-anticipated results that necessitated the April raise, with directors forgoing fees late in the year. He expects higher Odin and Vali gas output to reward shareholders. Text is truncated, so financials are not seen.
