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An announcement from Vintage Energy Ltd. ( (AU:VEN) ) is now available.
Vintage Energy Ltd has announced the completion of joint venture conditions for the sale of its 25% interest in PEP 171, located in the onshore Otway Basin, to Beach Energy Limited. This transaction, which is pending regulatory and Ministerial approvals, aligns with Vintage’s strategy to focus on its core projects in the Cooper and Otway Basins. The sale will result in a payment of $1.25 million to Vintage, comprising cash and a waiver of a milestone payment, and reflects the company’s efforts to streamline its operations and concentrate resources on key projects.
More about Vintage Energy Ltd.
Vintage Energy Ltd operates in the energy sector, focusing on the exploration and production of gas resources. The company is primarily involved in projects within the Cooper Basin and the Otway Basin, with a strategic emphasis on advancing its Southern Flank gas fields project and the Nangwarry Contingent Resource.
Technical Sentiment Signal: Sell
Current Market Cap: A$8.35M
Find detailed analytics on VEN stock on TipRanks’ Stock Analysis page.