Vintage Energy Ltd (ASX:VEN) provide the FY22 Q3 Quarterly Report featuring a Maiden Gas Sales Agreement, preparation for Vali well simulation and the spudding of the Cervantes-1 well.
Oil and gas might not be everyone’s favourite asset class, but when it’s the hottest ticket in town it’s hard to ignore – especially when potential profit-making anomalies emerge.
Vintage Energy has fulfilled all conditions under a gas sales agreement with AGL – enabling the call on the first two of three $5 million pre-payments from.
The agreement is for the sale of gas produced from the Vali field in Australia s Cooper basin from start-up, which is expected mid-2022, through to the end of 2026.
Vintage Energy has advised that Cervantes-1, an oil exploration well in the onshore Perth Basin licence L14 is to be plugged and abandoned after reaching Total Depth overnight and failing to encounter hydrocarbons.