Vintage Energy Limited in Adelaide, South Australia | Energy company

Vintage Energy Limited

Locality: Adelaide, South Australia

Phone: +61 8 8366 0217

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23.01.2022 Petroleum exploration and production company based in Adelaide, South Australia.

10.01.2022 Vintage Energy completes $5.3 million pre-IPO capital raising and satisfies major financial condition precedent for Galilee Basin farm-in. Vintage Energy Limited has completed a $5.3million pre-IPO capital raising made to sophisticated and professional investors. The offer opened on 18 January 2018, with Taylor Collison as Lead Broker and closed on 29 January, heavily oversubscribed. The funds raised allow Vintage to satisfy the major financial condition precedent in the ...agreement with Comet Ridge Ltd to acquire equity in the ‘Deeps Area’ (Deeps) within three highly prospective permits in the Galilee Basin, ATP’s 743, 744 and 1015. Remaining conditions precedent are primarily document related and planned for completion over the coming weeks. Vintage Managing Director, Neil Gibbins, said, The response by investors to our recent capital raising exercise was tremendous and will allow Vintage to develop its strategy of becoming an active player in helping to resolve the crisis currently facing Australia’s East coast natural gas market. With cash in the bank and our upcoming IPO, Vintage aims to take full advantage of the opportunities currently presented in the Australian energy market. See more

01.01.2022 Vintage Energy was registered as a proprietary limited company on November 5, 2015. The Company was formed amid the backdrop of a developing energy and gas supply crisis. There is a clear gas supply shortage in the eastern states of Australia and spot gas prices have reached record levels. Crude oil prices are at about US$60/bbl, having rebounded and stabilised from the extreme lows of 2015/16. This, combined with an Australian Dollar to US Dollar exchange rate of around $0.7...5 and reductions in operating costs imply there are 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, directors and advisors have been actively reviewing oil and gas opportunities and corporate opportunities in the Australian market. Vintage Energy has thus far secured two 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. Further farm-in and acquisition discussions on several assets are underway.