News updates on Vintage Energy, Carnaby Resources, Genex Power, MATES in Construction and more …

Vintage Energy and its joint venture partners are on track to bring the Vali gas field into production in October after completing the four wells; Vali-1 ST1, Vali-2, Vali-3 and Odin-1.

“We now have four gas wells completed, ready for connection and gas production,” Vintage managing director Neil Gibbins said.

“It is a significant milestone for our company and for the process of bringing new gas from Vali and Odin to the east coast market. Most importantly we have reached this point free of lost time injuries and reportable environmental
incidents. Our focus now shifts to pipeline installation and facilities construction.”

Vali is to supply an estimated 9 PJ to 16 PJ of gas to AGL in the period from field start-up to end-2026 under the gas sales agreement announced in March. (The project ownership is Vintage 50 per cent, Metgasco 25 per cent and Bridgeport 25 per cent).

Genex Power has received a revised offer equating to $346 million in a takeover proposal from Atlassian co-founder Scott Farquhar’s Skip Investments and Stonepeak Partners.

Genex said its board would recommend the revised proposal if the private equity firms make a binding offer.

Genex is developing the Kidston renewable energy hub in North Queensland and the 50MW/100MWh Bouldercombe battery project in the Rockhampton region. Last week it announced a $5 million deal to acquire full development rights for the 2GW multi-stage Bulli Creek clean energy project. 

Carnaby Resources has released an exploration update for the Greater Duchess copper-gold project in North-West Queensland, where first-pass RC drilling at Mount Hope has intersected a 75m of quartz copper sulphide vein.

The company also reports exceptional new Induced Polarisation (IP) chargeability anomalies generated at Lady
Fanny North and Lady Don prospects.

Origin Energy reports underlying EBITDA rose to $2.114 billion in the 12 months to June 30, compared to $2.036 billion in the prior year.

Origin benefitted from a record cash distribution from Australia Pacific LNG of $1.595 billion, due to higher realised oil and spot LNG prices.

On a statutory basis, Origin has announced a loss of $1.429 billion, reflecting a $2.196 billion non-cash impairment.

The Central Highlands Development Corporation will run a business workshop – Understanding the Tender Process – in Emerald on Thursday, September 1. Book HERE

The event will bring together Central Highlands Regional Council procurement and contracts manager Martin Dunn and C-Res business development advisor Emma McCullagh to walk participants through the tender process. Book HERE

MATES in Construction and Bunnings Trade Australia have announced a partnership to help raise awareness around better mental health and work towards suicide prevention in the construction industry.
 
To mark the partnership, Bunnings Trade Australia will be releasing a limited edition black co-branded hoodie to help raise funds, with all profits from the sales going directly to MATES to continue their vital work. More information at https://trade.bunnings.com.au/MATES