Vintage Energy Completes Acquisition of 15% Interest in Galilee 'Deeps'

Source: www.gulfoilandgas.com 11/26/2018, Location: Not categorized

Vintage Energy has announced that documentation has been fully executed for the transfer of a 15% interest in the Galilee Basin Deeps Joint Venture (GBDJV) across ATP 743, ATP 744 and ATP 1015 to Vintage from Comet Ridge.

As advised in the FY19 Q1 Quarterly Report, Vintage acquired its first equity interest of 15% for the GBDJV through completion of Stage 1 of the two-stage farm-in process. With formal completion of the interest transfer, Vintage has now booked its equity share of the independently certified contingent resource for the Albany (Carmichael) Gas Field.

During 2015, SRK Consulting (Australia) conducted a technical analysis for Comet Ridge of the available Albany Field seismic and well data. Based on the seismic and petrophysical interpretations and assessment consistent with the SPE 2007 Petroleum Resource Management System (PRMS), SRK provided an estimate of Contingent Resources for the field. SRK has also been provided with the well data from Albany-1 and is of the view the well results are consistent with their estimates of contingent resources.

Vintage Managing Director Neil Gibbins said:

'Vintage is pleased to announce its first resource booking after execution of documentation to effect the transfer of a 15% interest in the Galilee Deeps project. Planning is underway for further appraisal of the Albany Gas Field during FY19 and seismic acquisition over nearby prospects and leads is scheduled to commence in December, as Stage 2 of the farm-in program progresses. Upon completion of this next stage, Vintage will have acquired an additional 15% interest in this exciting and highly prospective project.'


Brazil >>  8/11/2022 - Petrobras informs that it has begun the opportunity disclosure stage (teaser), referring to the sale of its mining rights for research and mining of p...
Angola >>  8/10/2022 - Afentra plc, an upstream oil and gas company listed on AIM and focused on acquiring production and development assets in Africa, is pleased to announc...

Denmark >>  8/10/2022 - Vestas continuously looks for partners that can support our strategic focus on our core business and help scale renewables efficiently in the long-ter...
Norway >>  8/10/2022 - • The transaction consideration of US$68 million includes NOK 309 million (~US$33 million) in deferred tax assets which are recoverable for Lime Petro...

Oman >>  8/8/2022 - Maha Energy AB (publ) (“Maha” or the “Company”), through its wholly owned subsidiary Maha Energy (Oman) Ltd., has entered into an Agreement with Mafra...
United States >>  8/8/2022 - Cenovus Energy Inc. (CVE) has reached an agreement to purchase bp’s 50% interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.