Australia's Vintage Energy dives to over 3-year lows on Vali gas disruptions

Vintage Energy

11/09/2023 02:41

**  Shares of oil and gas explorer Vintage Energy Ltd
 VEN.AX  slip as much as 7.5% to A$0.037, their lowest since May
2020 
    ** Says production from two key wells at its Vali gas field
in Queensland delayed by fluids in the wellbore 
    ** Says fluids persisted despite numerous removal
operations; adds, production could not be restarted
    ** Shares in Metgasco, a JV partner at Vali, slipped as much
as 16.7%, its lowest level since March, 2015 
    ** More than 1.4 mln VEN shares change hands versus 30-day
average volume of ~891,530 shares  
    ** VEN down ~55% this year, as of last close, versus a 1.7%
increase in benchmark S&P/ASX 200 index  .AXJO  


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))