Vintage Energy Ltd. has received ministerial approval for acquisition of Beach Energy Ltd.’s 15% interest in Cooper basin retention lease PRL221 in South Australia.
The lease contains Odin gas field that straddles the permit border with the group’s ATP 2021 Vali field permit in Queensland.
At deal closing, Vintage will be operator with 50% interest. Bridgeport (Cooper Basin) Pty Ltd. and Metgasco Ltd. each will hold 25%.
Interests in PRL221 and ATP2021 are now aligned allowing transition to development and production mode.
Vali gas is expected to come on stream in September-October 2022 while the Odin-1 discovery well is to be completed as a gas producer and added to production infrastructure.
