Vintage Energy Ltd (“Vintage” or “the Company”) was registered as a proprietary limited company on 5 November 2015. The Company was formed amid the backdrop of a developing energy and gas supply crisis and listed on 17 September 2018.
There is a clear gas supply shortage in the eastern states of Australia and spot gas prices have reached record levels. Crude oil prices have rebounded and stabilised from the extreme lows of 2015/16. This, combined with reductions in operating costs, are expected to result in improved margins for both oil and gas production, creating opportunities for increased exploration and development of oil and gas assets within Australia.
Since the Company’s inception, management, the directors and advisors have been actively reviewing oil and gas opportunities and corporate opportunities in the Australian market. Vintage has thus far secured four separate, but valuable and highly strategic, natural gas exploration opportunities. We believe that each of these has strong potential for new gas discoveries and more importantly, the potential for early gas production to supply the Eastern Australian energy market.
A snapshot of the stocks on the move, featuring Vintage Energy (ASX:VEN), Rumble Resources (ASX:RTR), QX Resources (ASX:QXR), Dimerix (ASX:DXB) and BluGlass (ASX:BLG).
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A snapshot of the stocks on the move, featuring QX Resources (ASX:QXR), Vintage Energy (ASX:VEN) and Alderan Resources (ASX:AL8).
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07 Jul 2023 - Vintage Energy (ASX:VEN) is an oil and gas exploration production company. It expects to bring a second field, Odin, into production in 2023.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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