Vintage Energy Ltd (ASX:VEN) Vali-2 Successful and Cased for Future Production
Vali-2 Successful and Cased for Future ProductionMelbourne, May 12, 2021 AEST (ABN Newswire) - Vintage Energy Ltd (
ASX:VEN) is pleased to provide an update on the Vali-2 appraisal well and the Odin-1 exploration well in the Cooper Basin.
Neil Gibbins, Vintage Managing Director, said "The Vali-2 well has more than met our expectations and highlights the multi-well field development potential at Vali. The identification and recovery of a gas sample from the Toolachee Formation indicates the conventional upside we were hoping for and we anticipate a corresponding reserve booking for the formation and an increase in the overall Vali Field reserves. Along with confirmation of the significant Patchawarra Formation potential, this is an excellent result for the Joint Venture. Vali-2 was drilled expeditiously and safely, and I would personally like to thank all involved in the drilling, casing and suspending of the well. We are now looking forward to drilling the Odin-1 exploration well, which is expected to spud around mid-May."