Vintage Energy Ltd

Vintage Energy Limited (ASX:VEN) advises that the partially underwritten non-renounceable entitlement offer has completed with $8.9 million raised. Along with the $3.1 million raised via the institutional placement, a total of $12.0 million has been received to fund upcoming projects targeting first production and cash generation.

Vintage Energy Ltd (ASX:VEN), the operator of the ATP 2021 joint venture (Vintage 50%, Metgasco Ltd 25% and Bridgeport (Cooper Basin) Pty Ltd 25%) is pleased to provide an update on activities relating to the Vali gas field.

Vintage Energy Limited (ASX:VEN) present the report together with the financial statements of the Company for the year ended 30 June 2020 and the Independent Audit Report.

Vintage Energy Limited (ASX:VEN) confirms that the entitlement offer booklet and personalised entitlement and acceptance form in connection with the 1 for 2 non-renounceable entitlement offer, as announced to ASX on 17 September 2020, was despatched to Eligible Retail Shareholders today.

The ATP 2021 joint venture (Vintage Energy Ltd (ASX:VEN) 50% and operator, Metgasco Ltd 25% and Bridgeport (Cooper Basin) Pty Ltd 25%) advises that a development concept for the Vali Field has been completed and estimates a field life of around 20 years.

Vintage Energy Ltd (ASX:VEN) advises that it has undertaken a share placement to institutional and sophisticated/professional investors ("Placement") at an issue price of $0.06 per share, raising gross proceeds of $3.1 million.

Vintage Energy Ltd (ASX:VEN) is pleased to advise that it has made its first Otway Basin recoverable carbon dioxide ("CO2") booking for the Nangwarry-1 discovery.

The PEL 155 onshore Otway Basin joint venture (Vintage Energy Ltd (ASX:VEN) 50%, Lakes Oil NL 50% and operator) is pleased to advise that a non-binding Memorandum of Understanding has been signed with Supagas Pty Ltd, an Australian based distributor of gases for domestic, industrial, medical and other applications.

The ATP 2021 joint venture: Vintage Energy Ltd (ASX:VEN) 50% and operator, Metgasco Ltd 25% and Bridgeport (Cooper Basin) Pty Ltd 25%) is pleased to advise that the highly successful flow test program for Vali-1 ST1 has completed.

The ATP 2021 joint venture Vintage Energy Ltd (ASX:VEN) 50% and operator, Metgasco Ltd 25% and Bridgeport (Cooper Basin) Pty Ltd 25% is pleased to advise that a strong gas flare has been observed over the flow-back of stimulation fluid ahead of the flow testing of the well.