• $5M in grants from South Australian government for drilling of two new gas production wells
• Grants provide up to 50% funding for the Odin-3 and Vali-41 gas wells
• Grants are part of the SA Gas Incentive Grant program to accelerate gas supply projects

Vintage Energy Ltd (ASX: VEN) has welcomed the announcement of $5 million in grants from the South Australian government for its Southern Flank gas projects, PRL 211 and ATP 2021. The grants, which are subject to the signing of grant agreements, will provide up to 50% of the funding needed for the drilling of two new gas production wells, Odin-3 and Vali-41. The grants are part of a total of $15 million in funding under the SA Gas Incentive Grant program, which aims to accelerate investment in projects that can deliver increased gas supply, storage, and infrastructure for the state before the end of 2028. Vintage's Managing Director, Mr. Neil Gibbins, stated that the grants are a 'pleasing endorsement' of the Southern Flank gas projects and their ability to contribute to South Australia's energy needs. The Odin-3 and Vali-41 wells have been designed to access gas from Vintage's existing reserves, with a focus on optimal production using lessons learned from the company's past four years of production appraisal. The wells are expected to be drilled in the September quarter of 2026, subject to the signing of the grant agreements and the securing of drill rigs and outstanding funding.

The grants are expected to provide up to 50% of the funding needed for the drilling of the Odin-3 and Vali-41 gas wells, which are intended to increase gas supply for electricity generation in South Australia.