Nangwarry-1 Well Drilling - All’s WELL that ends WELL !!!, page-2

ASX:VEN Update of today 14th Jan 2020.

Otway Basin: Nangwarry-1 reached total depth at 4,300 metres; log analysis and
pressure measurements indicate a minimum 65 metre gross gas column;

Otway Basin (PEL 155, Vintage 50%)
Vintage is pleased to advise that a gas column with a minimum gross height of 65 metres has been
identified at the top of the Pretty Hill Formation in the Nangwarry-1 well. The identification of this gas
column was the result of combined wire line logging data and formation pressure measurements. The
composition of this gas column will be confirmed shortly by laboratory analysis of samples acquired during
logging operations.This data plus future testing will allow the estimate of the gross gas column to be
refined. The further zone of shows previously reported in the mid-Pretty Hill Formation requires further
evaluation and the joint venture will consider cased hole logging and flow testing strategies to fully evaluate
this zone. Limited wireline log data to date does not indicate material volumes of moveable gas in this
zone, however data quality has been impacted by hole conditions.

Further updates to the market will follow at the completion analysis of the evaluation program and
determination of the gas composition.

Cheers !!!