Investor Presentaiton
Galilee Basin - ATPs 743, 744, 1015 ("Deeps")
• Vintage 15% (earning up to 30%), Comet
Ridge 85% and operator
• Stage 2 underway - Vintage to fund 50% of
$10 million program to earn additional 15%
Revert to equity interest post initial JV spend
of $10 million
• Koburra seismic program completed
- 336 km 2D seismic acquired
-
-
-
619 km of existing 2D to be reprocessed
Data ready for interpretation in Q4 FY19
Gross cost of $4.3 million (net $2.1 million)
Enhanced leads and prospects in Q1 2019
Potential for additional structures
with large gas accumulations
*During 2015, SRK Consulting (Australia) Pty Ltd, ('SRK'), conducted a technical analysis of
the available Carmichael Field seismic and well data for Comet Ridge. Estimates are in
accordance with the Petroleum Resources Management System (SPE, 2007) and Guidelines
for Application of the PRMS (SPE, 2011). No Reserves were estimated. Probabilistic methods
were used. Sales gas recovery and shrinkage have been applied to the Contingent Resource
estimation. The losses include those from the field use, as well as fuel and flare gas. 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. Refer explanatory notes for detail.
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50
40
30
20
10
0
Petroleum well
ATP 743
ATP 1015
ATP
744
Carmichael-1
Albany-1
0
Proposed well
ATP 1015
0
Lead and prospect
Koburra 2D seismic survey
Existing seismic survey
Vintage interest permit
ATP 1015
50 km
Albany-2
Lake Galilee-1
VINTAGE ENERGY
1C, 2C and 3C contingent resources*
VE19-001
Net 1C
Net 2C
Net 3C
Expanded 2D seismic survey due to increased prospectivity following Albany-1 success
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