Vintage Energy (ASX: VEN) reported December 2025 quarter sales revenue of $0.8 million as field operations focused on the second phase of its Production Uplift program.
The company advanced initiatives to reform its Southern Flank joint ventures while completing the divestment of a non-core Victorian permit to strengthen focus on cash-generating assets.
Field activity during the quarter centred on de-watering operations and establishing Toolachee gas production across the Vali and Odin gas fields in the Cooper and Eromanga basins.
Total production for the quarter was 0.06 petajoule equivalent, down from the prior quarter, with sales gas accounting for 97% of output.
Average daily raw gas production from the Odin field declined due to downtime associated with third-party infrastructure and planned maintenance.
Vali Field Operations And Appraisal
At the Vali gas field, production from Vali-1 continued from the Patchawarra Formation, with facility availability exceeding 99% despite downstream interruptions outside Vintage’s control.
Operations at Vali-2 and Vali-3 focused on de-watering and initiating appraisal production from the Toolachee Formation under the second phase of the Production Uplift Program.
Geotechnical analysis identified potential new drilling locations at Vali-4 and Vali-5 and informed workover planning at Vali-1 targeting Toolachee and Nappamerri formations.
The Vali field consists of three completed wells, each of which is connected to the Moomba gas network for supply to the domestic energy market across eastern Australia.
Southern Flank JV Reformation
Vintage progressed plans to reform its Southern Flank joint ventures by executing a conditional agreement to acquire Metgasco’s (ASX: MEL) 25% interests in PRL 211 and ATP 2021 for $5.9m.
The initiative is intended to revitalise drilling activity, transition from appraisal to production, and improve long-term cash generation from the Cooper Basin assets.
The company also completed the sale of its 25% interest in PEP 171 to Beach Energy for $1m, enabling capital to be redeployed toward its Southern Flank gas operations.
Work continued in the Otway Basin toward commercialisation of the Nangwarry carbon dioxide resource, with a feasibility study funded by Beijing Maison Engineering yet to be finalised.
Vintage maintained a disciplined capital approach across its broader portfolio, while pursuing pathways to increase production, secure grant funding, and stabilise cash flow through 2026.
Cash at quarter end stood broadly unchanged on the previous period at $1.7m, as operational and corporate cost controls offset lower production volumes.
