Vintage Energy Ltd's Odin-2 Appraisal Well Update

Vintage Energy Ltd (ASX: $VEN) has updated its announcement regarding the successful Odin-2 appraisal well. The well, located 1.1 km north-east of the gas producing Odin-1 appraisal well, has confirmed gas pay in the sandstones of the Toolachee, Epsilon, and Patchawarra Formations, the primary targets in the well. Vintage Energy Ltd, with a 50% interest in the ATP 2021 Joint Venture, plans to case and suspend Odin-2 as a future gas producer.

Executive Commentary on Odin-2 Appraisal Well

Odin-2 has given us a pleasing result. While results are preliminary at this stage, it appears the well has fulfilled our objectives of adding another producer to supplement our gas sales from Odin-1. We look forward to completing interpretation and analysis of the results and working with our fellow joint venturers on agreeing and finalizing completion and connection.

Summary of Odin-2 Appraisal Well Update

Vintage Energy Ltd (ASX: $VEN) has successfully confirmed gas pay in the primary target formations of the Odin-2 appraisal well. The company plans to case and suspend Odin-2 as a future gas producer, aiming to supplement gas sales from Odin-1. The preliminary interpretation of wireline log data has indicated conventional net gas pay totaling 11 meters in the Toolachee Formation, 3 meters in the Epsilon Formation, and 45 meters in the Patchawarra Formation. Vintage Energy Ltd anticipates gas from Odin-2 could commence supply within the current winter, subject to joint venture approval and the scheduling and execution of field work.