Australia's Beach Energy gains on acquiring gas permit stake from Vintage Energy

Vintage Energy

16/06/2025 04:16

** Shares of Australia's Beach Energy BPT.AX rise as much as 7.7% to A$1.4, its highest level since April 3

** Stock at its biggest intraday pct. gain since April 10

** Oil and gas explorer Vintage Energy VEN.AX says Beach Energy will buy 25% stake in its PEP 171 onshore basin in Victoria for A$1.25 million ($810,000.00)

** Around 9.4 mln shares change hands, 1.5x the 30-day average of 6.4 mln shares

** Session trims co's YTD losses to 6.8%

($1 = 1.5432 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com;))