Vintage Energy Ltd. (AU:VEN) has released an update.
Vintage Energy Ltd is set to share a 50% stake in PELA 679, a South Australian Cooper Basin exploration licence, with Sabre Energy upon title grant, where Sabre will fund a 3D seismic survey and reimburse Vintage’s costs. Located near the productive Worrior oil field, the permit is expected to have significant oil potential, and the agreement marks Sabre Energy’s strategic entry into oil exploration in the region. The deal, awaiting regulatory approval and necessary consents, promises collaborative efforts to unlock the potential of the highly prospective oil region.
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