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Vintage Energy Ltd. ( (AU:VEN) ) has provided an announcement.
Vintage Energy Ltd has reported positive interim results from its Production Uplift Program at the Odin and Vali gas fields, which began after access was re-established following Cooper Basin flooding. The program, conducted in two phases due to high demand for resources, has shown effective scale removal, leading to increased gas production rates. The first phase has been completed successfully, with Odin-1, Odin-2, and Vali-1 brought back online, and the potential for further production uplift remains. The program’s success supports the company’s strategy to enhance long-term performance and manage scale accumulation, with phase two expected to commence in September.
More about Vintage Energy Ltd.
Vintage Energy Ltd is an energy company involved in the exploration and production of gas resources. It operates primarily in the Cooper Basin, holding a 50% interest in the PRL 211 and ATP 2021 Joint Ventures, with a focus on enhancing gas production through innovative programs.
Technical Sentiment Signal: Sell
Current Market Cap: A$10.43M
For an in-depth examination of VEN stock, go to TipRanks’ Overview page.