• Vali field first gas on Tuesday 21 February
• Significant new gas field now supplying eastern Australia
• Supply and revenue generation 3 years from discovery
• Vintage commences revenue generation 4.5 years from ASX float
• Odin gas field connection advancing with flowline laid

Vintage Energy, 50% interest holder and Operator of the ATP 2021 Joint Venture (other interest holders: Metgasco Ltd, 25%; and Bridgeport (Cooper Basin) Pty Ltd, 25%,) advises gas supply from the Vali gas field commenced Tuesday 21 February 2023.

Vali is supplying gas to eastern Australia under a long-term gas supply agreement with AGL Energy (“AGL”). The field, among the larger gas discoveries in the Cooper Basin in the past decade, is independently certified as having proved and probable gas reserves of 101 petajoules (PJ) (Vintage share 50.5 PJ). Vali is to supply an estimated 9 PJ to 16 PJ gas to AGL from field start-up to end-2026, under Vintage’s inaugural gas contract.

“First production and first revenue generation is a landmark event for every company” said Vintage Managing Director, Neil Gibbins. 

“For an exploration company to reach this point, let alone within four and a half years of floating, is noteworthy. The achievement was made possible by the support and contribution of many, starting with our shareholders and ATP 2021 joint venturers. The efforts and vigilance of our employees and contractors has preserved an LTI and environmental incident-free record. Their persistence enabled the project to progress in the face of obstacles and disruption brought by Covid and consequent supply chain issues.

“AGL showed its willingness to step up and encourage new players with new supply; something keenly needed by the east coast gas market. By pre-paying the joint venture $15 million, AGL enabled Vali to be brought online much earlier than would otherwise have been the case. The long-term supply agreement with AGL was pivotal to Vintage securing the capital required to commit to the project.

“I would like to acknowledge the support and role played by the Queensland State Government in facilitating the discovery, appraisal and connection of the Vali gas field. The South Australian Government and the Cooper Basin Joint Venture are to be thanked for their role in enabling integration into the Moomba gas gathering network.

“Our expectation is Vali, and the nearby Odin gas field, will be supplying gas to eastern Australia for many years. The facilities and pipeline installed for these first flows will be an initial production solution on full field development in the coming years.” said Mr Gibbins. 

KeyFacts Energy: Vintage Energy Australia country profile