Vintage Energy triples Vali field gas reserves

Vintage Energy Ltd, Adelaide, has tripled the gas reserves assessment at Vali field in the Cooper basin of south-west Queensland.

Gross 2P reserves increased to 92 bcf from 30.3 bcf following a report by independent consultant ERC Equipoise Pte Ltd.

The evaluation, dated the 31^st October, includes results from Vali-2 and Vali-3 appraisal wells.

Vintage said that ERC revised its 1P, 2P, and 3P reserves estimate to include the Permian-age Toolachee formation as well as revising upward the previously booked reserves from the Permian Patchawarra formation.

The new 1P estimate is 43.3 bcf and the 3P estimate 191.2 bcf.

Managing director Neil Gibbins said key requirements for production commencement are now falling into place.

Detailed engineering for connection of Vali field to the South Australian Cooper Basin joint venture infrastructure is under way.

Vali field lies in permit ATP 2021 in which Vintage is operator with 50% interest. Partners are Metygasco Ltd (25%) and Bridgeport (Cooper Basin) Pty Ltd (25%).

Source: Oil & Gas Journal