Vintage Energy Sells 25% Stake in PEP 171 to Focus on Core Gas Projects.

Vintage Energy Limited (ASX: VEN) has entered into a sale agreement with Beach Energy's subsidiary, Adelaide Energy, to divest its entire 25% interest in PEP 171, located in Victoria’s onshore Otway Basin. The transaction is valued at AU$1.25 million, comprising AU$1 million in cash and an AU$0.25 million milestone payment waiver. Completion is subject to standard conditions, including joint venture and Ministerial approvals, and pre-emptive rights waiver by Amplitude Energy, which holds the remaining 75%.

This divestment aligns with Vintage’s strategic focus on advancing the Southern Flank gas fields project in the Cooper Basin and the Nangwarry Contingent Resource in the Otway Basin. According to MD Neil Gibbins, while PEP 171 remains a promising asset, Vintage’s immediate priority is to strengthen its financial position and accelerate its production uplift initiatives, supported by recent capital raising and reduced expenditures.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com