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Vintage Energy Ltd. ( (AU:VEN) ) has shared an announcement.
Vintage Energy Ltd has signed contracts with Beach Energy for the sale of its entire 25% stake in PEP 171, located in the onshore Otway Basin, Victoria, for $1.25 million. This divestment aligns with Vintage’s strategy to focus on its existing reserves and resources, particularly the Southern Flank gas fields and the Nangwarry Contingent Resource. The sale, alongside recent capital raising and expenditure reduction, positions Vintage on a stronger financial footing as it prepares for its Production Uplift Program.
More about Vintage Energy Ltd.
Vintage Energy Ltd is an energy company focused on the exploration and development of gas resources. The company is involved in projects in the Cooper Basin and the Otway Basin, with a strategic emphasis on advancing its Southern Flank gas fields and the Nangwarry Contingent Resource.
Technical Sentiment Signal: Sell
Current Market Cap: A$8.35M
For an in-depth examination of VEN stock, go to TipRanks’ Overview page.