Interim Production Uplift Program results

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Stock Metgasco Ltd (MEL.ASX)
Release Time 1 Sep 2025, 10:57 a.m.
Price Sensitive Yes
 Interim Production Uplift Program results
Key Points
  • Successful scale removal at Odin-1, Odin-2 and Vali-1 wells
  • Potential for significant production uplift remains
  • Further operations and time required to fully assess outcomes
Full Summary

Vintage Energy Ltd has reported on the results to date from the completed elements of the Production Uplift Program at the Odin and Vali gas fields. The program commenced in July following the re-establishment of access after Cooper Basin flooding, with work being conducted in two phases due to high demand for contractors and equipment across the basin. The first phase confirmed that scale presence is more widespread than previously identified, with direct evidence of significant scale observed at Odin-1, Odin-2, the Odin facility and Vali-2, and indirect evidence at Vali-1. Removal of the scale using an acid solution has proven to be simple and effective. Odin-1, Odin-2 and Vali-1 were brought back online with no issues, and raw gas production rates totaled 2.9 MMscf/d compared to 2.5 MMscf/d prior to the commencement of the in-wellbore projects. While the program is partially complete, the potential for significant uplift remains, and further operations and time are required for the assessment of outcomes and the realization of remaining potential benefits. The joint venture will continue to evaluate appropriate longer-term scale management solutions for the fields.

Outlook

Vintage is continuing to pursue options to complete the remaining operations comprising the second phase of the program as soon as practicable. These include addressing production from the Toolachee Formation at Vali-2 and Vali-1, as well as dewatering Vali-3 to resume production.