The Queensland Government has renewed an oil and gas exploration permit in the area of the Vali gas fields for a term ending in May 2030.

Vintage Energy said the renewal period for ATP 2021, abutting the South Australian border in southern Queensland, provided the tenure for a full evaluation of the substantial gas and oil prospectivity there.

Vintage is the operator of the ATP 2021 joint venture and holds a 50 per cent stake, while Metgasco and Bridgeport each have a 25 per cent interest.

Vintage said the renewed permit area and production licence application areas contained 23 oil prospects and leads and three gas prospects.

“The permit is well located, within a prominent oil and gas producing area containing numerous prolific producing fields like Dullingari, Epsilon and Beckler to name but a few,” Vintage managing director Neil Gibbins said.

“It is also close to existing infrastructure and possessing excellent oil and gas prospectivity.

“There is a great opportunity for value creation from the region’s prospectivity and we look forward to addressing that in this permit tenure.”

The permit holds the Vali gas field, discovered by the ATP 2021 joint venture in 2019, which is currently supplying gas to AGL from appraisal production under long-term contract.

ATP 2021 lies immediately to the east of the South Australian permit PRL 211, where a joint venture of Vintage, Metgasco and Bridgeport discovered the Odin gas field.