Cooper/Eromanga Basins (ATP 2021, Vintage earning 50%)Vintage, as operator of the ATP 2021 Joint Venture with Metgasco Ltd (25%) and Bridgeport (Cooper Basin) Pty Ltd (25%), is pleased to advise that the Vali-1 gas exploration well is drilling to schedule and had reached a depth of 2081 metres in the Westbourne Formation as of 06:00 this morning, currently running back into the hole following a bit change.Oil shows, indicatative of migration through the area, were observed in the Jurassic section within sandstones of the Westbourne Formation.The Vali prospect is a primary target in sandstones of the Patchawarra Formation, with the Toolachee Formation being a secondary objective. These reservoirs are proven as producing reservoirs on the southern flank of the Nappamerri Trough, with over 600 Bcf of gas produced from fields within a 15 to 40 kilometre radius of the proposed Vali-1.
MEL Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
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