Total
0
Shares
Vintage Energy (ASX:VEN) progresses gas operations in Cooper and Otway Basins
Vali-1 fracture stimulation. Source: Vintage Energy
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.

VEN by the numbers
More From The Market Herald
Santos breaks oil sales  record in first quarter

" Metgasco (ASX:MEL) continues drilling Vali-3 appraisal well

Metgasco (MEL) has provided an update on the drilling of the Vali-3 appraisal well in the Cooper Basin of Australia.
Vulcan Energy (ASX:VUL) joins the charges of the Global Battery Alliance

" Vulcan Energy (ASX:VUL) joins the charges of the Global Battery Alliance

Vulcan Energy (VUL) has been accepted as a member of the Global Battery Alliance (GBA).
Leigh Creek Energy (ASX:LCK) - Managing Director, Phil Stavely (left) - The Market Herald

" Leigh Creek Energy (ASX:LCK) raises $18M for namesake project

Leigh Creek Energy (LCK) has successfully raised $18 million to progress stage one of its eponymous project.
Zeus Resources (ASX:ZEU) - Chairman, Dongfeng Zhang - The Market Herald

" Zeus Resources (ASX:ZEU), WA uranium play, soars after engaging offshore ‘consultancy’ linked to secretive WhatsApp investor group

Part Chinese Communist Party-owned uranium play Zeus Resources’ (ZEU) share price soared more than 100 per cent early this week after engaging a