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Vintage Energy Ltd (ASX:VEN)

ALERT: Price-sensitive ASX Announcement for VEN
Current share price for VEN : $0.002 -0.002 (-50%)+
Announcement
Release
21 Apr 2026 9:48AM
Price at Release
$0.004
Full Release
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Summary
Vintage Energy Ltd and Vault Energy have signed a Heads of Agreement (HoA) for a gas sales agreement for the Cullen-1 well located in the Bonaparte Basin, Northern Territory. Vintage holds a 100% interest in the Cullen-1 well, which showed strong gas indications but was never tested due to access issues. The agreement commits both parties to work exclusively towards a gas sales agreement, contingent upon positive test results showing commercial viability. Vault Energy aims to use the gas to power data centers, implementing a novel 'Well to Wire' model to deliver power directly to digital infrastructure. The agreement is pioneering within Australia, as it integrates resource development with digital infrastructure needs. This development aligns with Vintage's plans to commercialize Cullen, which had been stalled since 2019 due to access concerns. The Northern Territory Government has now provided a pathway for environmental management plan applications, offering more certainty for future activities.
Key Points
  • Vintage and Vault sign Heads of Agreement for Cullen-1 gas sales
  • Agreement subject to positive flow test results
  • Cullen-1 is located in the Bonaparte Basin, Northern Territory
  • Vault Energy plans to use gas for data center power generation
  • The agreement includes information sharing and collaboration
  • Cullen-1 showed strong gas indications but was never tested
  • Access issues had previously delayed testing since 2019
  • The agreement is part of a 'Well to Wire' power model
  • Northern Territory Government provides path for environmental applications
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.