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- Vintage Energy (VEN) has provided an update on its Vali-2 well in the Cooper Basin and Nangwarry-1 in the onshore Otway Basin
- Vali-2 well has reached a depth of 3240 metres, and during drilling gas shows were identified in the Toolachee and Patchawarra formations and the Tirrawarra Sandstone
- Currently, data is being analysed from the downhole gauges that were retrieved from Nangwarry-1 in late April
- Once these results have been analysed the joint venture will estimate updated volumetrics for the Nangwarry reservoir
- On the market today, Vintage is down 3.23 per cent and is trading at 6 cents per share
Vintage Energy (VEN) has provided an update on its Vali-2 well in the Cooper Basin and Nangwarry-1 in the onshore Otway Basin.
Vali-2 well
Up along the South Australian and Queensland border lies the Cooper Basin and the Eromanga Basin. Vintage has two assets in the area- ATP 2021 and PRL 211.
In ATP 2021 is the Vali-2 well, which reached a depth of 3240 metres on Sunday, May 2. Drilling was led by the Schlumberger rig team and the contractor group.
Observed in the drilling was several gas shows in the Toolachee and Patchawarra formations and the Tirrawarra Sandstone. These are currently being evaluated by the wirelogging program.
Drilling at Vali-2 was to assess the potential for gas in the Toolachee Formation
four-way dip closure, that was not tested in Vali-1.
Nangwarry-1
Nangwarry-1 well is located in PEL 155 project at the Otway Basin, a rift basin that spans onshore and offshore South Australia, Victoria and Tasmania.
Vintage and its joint venture partner, Otway Energy, have a 50:50 interest in the PEL 155 project, which is located on the South Australian side of the Otway Basin.
Currently, data is being analysed from the downhole gauges that were retrieved from Nangwarry-1 in late April.
Once these results have been analysed the joint venture will estimate updated volumetrics for the Nangwarry reservoir.
On the market today, Vintage is down 3.23 per cent and is trading at 6 cents per share at 12:52 pm AEST.
