Ministerial approval received for PRL 211 acquisition

Vintage Energy Ltd (ASX: VEN) announced that ministerial approval has been received for the transaction for acquisition of Beach Energy Ltd’s (ASX: BPT) 15% interest in the Cooper Basin licence PRL 211 by Vintage along with the other interest holders in the licence, Metgasco Ltd and Bridgeport (Cooper Basin) Pty Ltd.

The Joint Venture parties have acquired their respective share in the 15% stake in proportion to their current holding, Vintage 50% and Operator; Bridgeport 25%; and Metgasco 25%.

PRL 211 is situated near the present Cooper Basin generating gas fields and infrastructure. It contains the Odin gas field, discovered and flow tested in September/October 2021. Odin is planned to extend into ATP 2021, a licence sharing identical participants plus equity interests to PRL 211, and which holds the Vali gas field.

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