• Offer of approximately 521.7 million New Shares and 1,043.5 million free attaching New Options
• Aims to raise approximately $2.1 million to support gas operations and accelerate oil exploration
• Proceeds to fund general working capital, Odin gas field connection, and offer costs

Vintage Energy Ltd has announced the release of a prospectus for a 1-for-4 pro-rata non-renounceable entitlement offer. The offer comprises the issue of approximately 521.7 million new shares at $0.004 per share and 1,043.5 million free attaching new options with an exercise price of $0.005. The company aims to raise approximately $2.1 million through the offer. The proceeds will be used for general working capital and to assess oil prospects, fund the permanent connection of the Odin gas field, and cover offer costs. The permanent connection is expected to result in annual cash savings of around $0.35 million for Vintage. The company believes the offer is necessary to meet near-term requirements, capitalize on favorable market conditions for gas and oil, underpin existing gas production, and accelerate plans to pursue oil opportunities within its portfolio. Looking ahead, Vintage sees gas commercialization as a core pillar, but oil exploration has assumed elevated significance based on oil shows in its drilling and the financial robustness of infrastructure-advantaged assets in the Cooper Basin. The company has identified over 20 prospects and leads and selected two drill-ready targets for the earliest opportunity.

Vintage sees gas commercialization as a core pillar, but oil exploration has assumed elevated significance based on oil shows in its drilling and the financial robustness of infrastructure-advantaged assets in the Cooper Basin. The company has identified over 20 prospects and leads and selected two drill-ready targets for the earliest opportunity.