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The ACCC has granted interim authorisation for Vintage Energy Ltd (ASX:VEN), Metgasco Ltd (ASX:MEL) and Bridgeport (Cooper Basin) Pty Ltd to enter into joint marketing arrangements.Read Full Article▸
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Vintage Energy Ltd (ASX:VEN) Vali gas field JV granted interim authorisation
Vali joint venture granted interim authorisation for gas marketing arrangements
Vali gas field JV granted interim authorisationMelbourne, Jan 29, 2021 AEST (ABN Newswire) - The ACCC has granted interim authorisation for Vintage Energy Ltd (
ASX:MEL) and Bridgeport (Cooper Basin) Pty Ltd to enter into joint marketing arrangements.
Vintage, Metgasco and Bridgeport are joint venture partners at the Vali field, a new gas field in the early stages of development which is located in the Queensland Cooper/Eromanga Basin. None of the parties currently produce or sell natural gas.
Interim authorisation allows the parties to begin jointly negotiating and entering into conditional long-term agreements with customers for the supply of gas from the Vali field.
Vintage Energy Ltd (ASX:VEN) Vali Field Reserves
ASX:VEN) as operator of the ATP 2021 joint venture (Vintage 50%, Metgasco Ltd (
ASX:MEL) 25% and Bridgeport (Cooper Basin) Pty Ltd 25%) is pleased to advise that ERC Equipoise Pte Ltd ( ERCE ) recently completed a rigorous and independent review of the Vali gas discovery and subsequent flow results, and certified 1P, 2P and 3P reserves for the Patchawarra Formation within the Vali gas field.
Key Points:
- Strong conversion of 2C Contingent Resources to 2P Reserves
- Potential for future resource bookings in Tirrawarra, Toolachee and Nappamerri
- Tie-in discussions for Vali Field to Moomba gathering system well advanced