Vintage Energy Launches AU$2.1 million Capital Raising to Support Gas and Oil Development
Vintage Energy Limited (ASX: VEN) has announced plans to raise AU$2.1 million through a capital raising to support project development, technical evaluations, and working capital requirements.
The funds will be raised through a 1-for-4 non-renounceable entitlement offer priced at 0.4 cents per share, representing a discount to recent trading levels. Under the proposed offer, the company plans to issue approximately 521.7 million new shares. Each new share will include two free-attaching options with an exercise price of 0.5 cents and an expiry date of 24 April 2028.
Proceeds will help finance the installation of a permanent connection to the Odin gas field, replacing temporary infrastructure and potentially reducing operating costs for the PRL 211 joint venture. Proceeds will additionally fund the evaluation of several oil opportunities and provide general working capital.
Vintage Energy is also progressing preparations for two gas production wells, Odin-3 and Vali-4, which may receive support from the South Australian Government’s Gas Incentive Grant program, covering up to half of the drilling costs.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Vintage Energy Launches AU$2.1 million Capital Raising to Support Gas and Oil Development
Vintage Energy Limited (ASX: VEN) has announced plans to raise AU$2.1 million through a capital raising to support project development, technical evaluations, and working capital requirements.
The funds will be raised through a 1-for-4 non-renounceable entitlement offer priced at 0.4 cents per share, representing a discount to recent trading levels. Under the proposed offer, the company plans to issue approximately 521.7 million new shares. Each new share will include two free-attaching options with an exercise price of 0.5 cents and an expiry date of 24 April 2028.
Proceeds will help finance the installation of a permanent connection to the Odin gas field, replacing temporary infrastructure and potentially reducing operating costs for the PRL 211 joint venture. Proceeds will additionally fund the evaluation of several oil opportunities and provide general working capital.
Vintage Energy is also progressing preparations for two gas production wells, Odin-3 and Vali-4, which may receive support from the South Australian Government’s Gas Incentive Grant program, covering up to half of the drilling costs.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au