The move into operational activity follows a successful initial public offering last month that saw the Reg Lyons-led company raise A$30 million. 

 

"Vintage is moving straight into an operation phase post listing, demonstrating a strong commitment to deliver its stated strategies in a timely fashion," managing director Neil Gibbins said. 

 

Survey objectives will be to provide improved definition of fault trends, fault blocks and geological structures in the area to identify geologically significant density and magnetism contrasts by measuring small changes in gravitational and magnetic fields. 

 

Data obtained from the survey will be combined with seismic survey information that the joint venture has already obtained, and after processing will be used to assess exploration options throughout the license. The survey will also be used to appraise the planned Nangwarry-1 well, should it prove to be productive. 

 

Vintage farmed in for a 50% interest with operator Otway last year. 

 

Vintage Energy's share price was 20.5 cents per share this morning. Its joint venture partner Otway Energy is a subsidiary of Rawson Oil and Gas which was at 2.7 cps. 

 

The friendly, off-market takeover of Rawson by Lakes Oil is near complete.