Operations Update Following Cooper Basin Rainfall
Melbourne, April 10, 2024 AEST (ABN Newswire) - Vintage Energy Ltd (
ASX:VEN), 50% interest holder and Operator of the ATP 2021 and PRL 211 Joint Ventures (other interest holders: Metgasco Ltd, 25%; and Bridgeport (Cooper Basin) Pty Ltd, 25%,) provides the following update on the timing of Odin appraisal following substantial rainfall in the Cooper Basin in April.
The resultant flooding and road closures has prevented ground access, disrupting freight of equipment and site preparation.
Current estimates are for this situation to persist for several weeks, with this timeline being highly dependent on ongoing weather conditions such as the rate of evaporation and additional rainfall. With this qualification, it is now expected site preparation will commence in early May, with rig mobilisation to site to occur subsequently.
Vintage anticipates spudding of the Odin-2 appraisal well will most likely occur in May, approximately one month later than advised in the investor presentation lodged with the ASX on 27 March 2024.
Vintage will provide further updates on timing of the Odin appraisal drilling as clarity and certainty permit. Odin-1 and Vali-1 are online and producing consistent with previous trends.
About Vintage Energy Ltd
Vintage Energy Ltd (ASX:VEN) has been established to acquire, explore and develop energy assets principally within, but not limited to, Australia, to take advantage of a generally favourable energy pricing outlook.
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