FY24 Q1 Quarterly Report
Melbourne, Oct 27, 2023 AEST (ABN Newswire) - Vintage Energy Ltd (
ASX:VEN) announce the FY24 Q1 Quarterly Report with Odin gas fields commencing production, and sales revenue up 58%.
Main features
- Odin gas field commences production
- Sales revenue of $0.9 million, up 58%
- Production of 0.1 PJ equivalent, up 25%
- Additional gas contract for Odin, finalised after quarter's end
Managing Director's comment
"The outstanding feature of the past quarter was the start of appraisal production from Odin, our second gas field, on-schedule, with initial flow rates slightly higher than our expectations and without a lost time injury. Odin is the next step in our appraisal by production program and the well has continued to perform solidly. We expect the Odin supply contract to step up revenue generation from our Cooper Basin gas operations. The work done on Vali-2 has given clarity on its downhole performance, and a plan for establishment of gas flow from the well later in the current quarter."
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/424B213Q
About Vintage Energy Ltd
Vintage Energy Ltd (ASX:VEN) has been established to acquire, explore and develop energy assets principally within, but not limited to, Australia, to take advantage of a generally favourable energy pricing outlook.
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