Vintage Energy’s Southern Flank Deal Hinges on Final Conditions Despite Shareholder Nod

Shareholder Approval Clears Major Hurdle

Vintage Energy Limited (ASX – VEN) has taken a significant step forward in its strategic growth plans with the announcement that Metgasco Limited’s (ASX – MEL) shareholders have approved the sale of Metgasco’s 25% interest in the Southern Flank joint ventures. This approval, granted at an extraordinary general meeting held on 14 January 2026, paves the way for Vintage Energy to consolidate its position in the ATP 2021 and PRL 211 assets.

Building on a Formal Sale Agreement

The shareholder approval follows the formal sale agreement executed between Vintage Energy and Metgasco in December 2025. Under the terms of this agreement, Vintage Energy aims to acquire Metgasco’s stake in the Southern Flank projects, which are strategically located and hold promising potential within the oil and gas sector. The deal is expected to enhance Vintage’s asset base and potentially its future production profile.

Conditions Precedent and Next Steps

While the shareholder nod is a critical milestone, the transaction remains conditional on several other requirements being met before completion. These conditions precedent, outlined in a prior announcement from November 2025, include regulatory and operational clearances that must be satisfied to finalise the transfer of interests. The timing of these steps remains uncertain, leaving investors attentive to forthcoming updates.

Strategic Implications for Vintage Energy

For Vintage Energy, increasing its stake in the Southern Flank joint ventures aligns with its broader strategy to expand its footprint in key oil and gas assets. The acquisition could provide Vintage with greater control and flexibility over development plans in these permits, potentially unlocking additional value. However, the market will be watching closely to see how the company manages the integration and any operational challenges that may arise.

Looking Ahead

As Vintage Energy awaits the satisfaction of remaining conditions, the transaction highlights the dynamic nature of asset consolidation within the Australian energy sector. The outcome will likely influence Vintage’s growth trajectory and investor sentiment in the months ahead.