Vintage Energy Announces Completion of PRL 211 Acquisition

Source: www.gulfoilandgas.com 6/10/2022, Location: Not categorized

Vintage Energy Ltd (VEN, "Vintage") announces the completion of the deal announced on March 29, 2022, for the acquisition of Beach Energy Ltd.'s 15% interest in the Cooper Basin licence PRL 211 by Vintage and the two licensees, Metgasco Ltd and Bridgeport (Cooper Basin) Pty Ltd.

The PRL 211 Joint Venture now comprises the following equity holders and interests: Vintage 50% and Operator; Bridgeport 25%; and Metgasco 25%.

PRL 211 is located close to existing Cooper Basin producing gas fields and infrastructure and contains the Odin gas field, discovered in May 2021 and flow tested in September/October 2021. Odin is mapped to extend into ATP 2021, a licence sharing identical participants and equity interests to PRL 211, and which holds the Vali gas field. The Odin-1 discovery well is to be completed as a gas producer in the forthcoming well completion campaign announced in the Vali operational update on 25 May 2022.


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