• Encouraging gas flow from Toolachee Formation at Vali-2 well
• Preparations underway to resume dewatering operations at Vali-3 well
• Further investigation and analysis required to determine why Toolachee Formation at Vali-1 did not flow significantly

Vintage Energy Ltd (ASX: VEN, 'Vintage'), 50% interest-holder and Operator of the PRL 211 and ATP 2021 Joint Ventures, reports on the second phase of the Production Uplift Program and current production levels from its Southern Flank gas fields. The second phase of the program commenced on 24 September and consists of operations to initiate production from the Toolachee Formation in the Vali gas field. At Vali-2, flow of the Toolachee Formation commenced after isolation of the Patchawarra Formation, initially producing water offline against minimal backpressure, with gas becoming more evident in the flow. The well is now producing into the facility against system pressure with a variable gas rate up to 0.25 MMscf/d and water rates between 40 and 50 barrels per day. These characteristics suggest flows are being driven by good underlying pressure and permeability of the Toolachee Formation, which is encouraging for higher Toolachee gas flow once the residual Patchawarra liquid has been cleared. At Vali-3, preparations are underway to resume dewatering operations, with the installation of a capillary string to effect nitrogen lift of fluid to be conducted. At Vali-1, further investigation and analysis is required to determine why the perforated intervals in the gas-bearing Toolachee Formation did not flow significantly. The preferred method to overcome this issue and produce the Toolachee resource at Vali-1ST1 is currently being assessed. Production from the Southern Flank gas fields is continuing with raw gas production rates totalling 2.4 MMscf/d, with Odin contributing approximately 1.9 MMscf/d and the balance from Vali-1 and Vali-2.

Vintage Energy will continue flow operations, investigation and analysis at Vali-2. Operations will resume at Vali-3 with the arrival of capillary string equipment, which is anticipated in November. Further work is required to determine the preferred method to produce the Toolachee resource at Vali-1ST1.