The South Australian government has awarded $5 million in grants to Vintage Energy (ASX:VEN) for its Southern Flank gas projects.
The funding is set to cover up to 50% of the costs for drilling two critical new production wells: Odin-3 and Vali-4.
The grants, distributed as $2.5 million each to the PRL 211 and ATP 2021 joint ventures, are part of the broader SA Gas Incentive Grant program.
The initiative targets high-quality projects capable of delivering gas supply and infrastructure before late 2028.
Vintage Energy, the majority stakeholder with a 50% interest, operates alongside partners Metgasco and Bridgeport (Cooper Basin), who each hold 25%.
Vintage Managing Director Neil Gibbins hailed the move as a "pleasing endorsement" of the projects' capacity to meet the state's future energy demands.