FY23 Q2 Quarterly Report & Appendix 5B
Melbourne, Jan 30, 2023 AEST (ABN Newswire) - Vintage Energy Ltd (ASX:VEN) provide the quarterly report for the period ending December 2022.
- Vali site works advanced towards commissioning
- Vali-Beckler twin pipelines installed and pressure-tested
- Odin gas field supply to be accelerated, site works commence
- 31 December 2022 cash balance of $7.5 million
Managing Director's comment
"Our work in the December quarter has seen the Vali pipelines and flowlines installed and tested, site works at Vali advanced and commitment to connect a second field, Odin. Installation of Vali production facilities is progressing, and we look forward to handover of the completed infrastructure for commissioning in early February.
"We actioned our decision to accelerate supply from Odin with immediate commencement of procurement and site works. This work will continue as we pursue connection of the field with the aim of enabling gas to flow from Odin to eastern Australian gas users in the third quarter of 2023. "Our focus is now on completing the final steps of the Vali construction safely and diligently. We look forward to updating shareholders on the remaining milestones for first gas and supply from Vali in the near future."
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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.
Vintage Energy Ltd