2020 AGM - Chairmans Address and MD Operations Report
New gas discoveries are required to ease dependence on the development of 'undeveloped 2P Reserves' and 'anticipated developments' to meet forecast demand.
- Federal Govt has identified gas companies and the delivery of gas to market as an essential service
- Forecast demand, underpinned by LNG, expected to be steady over the long term
- Significant investment, needed to meet forecast demand, required for:
o Development of 2P undeveloped
o Development 'anticipated developments'
o Development of new discoveries
o Exploration and appraisal
- Domestic gas prices are independent of global oil prices
- Recent ACCC papers indicate contract gas pricing in the $9 10/GJ range
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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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