PESA SA/NT October Technical Luncheon with Neil Gibbins, Vintage Energy
Thursday, 29 October @ 12:00 pm - 2:00 pm (Australia/Adelaide time)$20 – $60
PESA SA/NT would like to invite you to the October Technical Luncheon at Ayers House
Vintage Energy is an Adelaide based oil and gas exploration company which listed on the ASX in September 2018. The company has a market capitalisation of around $38million and has acquired a portfolio of underexplored but highly prospective Australian onshore oil and gas permits. Within two years of listing, Vintage has made two discoveries and is planning an active drilling program over the coming year. The company has interests in permits in the Cooper/Eromanga Basins (SA and Qld), onshore Otway Basin (Vic and SA), Bonaparte Basin (NT), Galilee Basin (Qld) and Perth Basin (WA).
The talk will offer insights into the process of building an oil and gas company from scratch and the many challenges encountered along the way. These challenges include the usual requirements of sufficient capital, a prospective asset portfolio, supportive shareholders, skilled team and timely approvals (both government and corporate). Add in an oil price crash, a global pandemic and extreme activism against the industry and it is clear the early years of Vintage Energy have been an interesting and challenging experience. Ultimately though, it has been rewarding with the recent Cooper Basin Vali gas discovery anticipated to commence production in the first half of 2021. A quote from Douglas Adams, author of The Hitchhiker’s Guide to the Galaxy seems very appropriate “I may not have gone where I intended to go, but I think I ended up where I intended to be”.