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Vintage Energy Ltd (ASX:VEN)

ALERT: Price-sensitive ASX Announcement for VEN
Current share price for VEN : $0.002 -0.003 (-60%)+
Announcement
Release
1 Sep 2025 10:57AM
Price at Release
$0.005
Full Release
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Summary
Vintage Energy Ltd reported the results of its Interim Production Uplift Program conducted at the Odin and Vali gas fields. The program, which began in July post-Cooper Basin flooding, was carried out in two phases due to high demand for contractors and equipment. The first phase confirmed widespread scale presence obstructing gas flow, particularly at Odin-1 and Odin-2, where scale removal using acid solution proved effective. Odin-1 saw production rates increase to 2.1 MMscf/d post-treatment, despite higher downstream pressures. Odin-2 also showed improved flow rates post-treatment. Vali-1 and Vali-2 had initial investigative work revealing probable scale development, while Vali-3, which was reperforated for better flow, showed promising pressure responses. The second phase, beginning in September, will continue to focus on longer-term scale management solutions. The program remains within budget, with a cash balance of $1.9 million.
Key Points
  • Interim Production Uplift Program started in July 2025.
  • Program divided into two phases due to post-flood demand.
  • Widespread scale presence confirmed at Odin and Vali fields.
  • Successful scale removal at Odin-1 and Odin-2.
  • Odin-1's production increased to 2.1 MMscf/d post-treatment.
  • Future operations to continue in September with a focus on long-term scale management.
  • Cash balance maintained at $1.9 million.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.