Nov 22 (Reuters) - Vintage Energy Ltd VEN.AX :
* EXECUTES TERM SHEET WITH 90 DAY EXCLUSIVITY PERIOD TO NEGOTIATE BINDING FARM-IN AGREEMENT FOR PRL 211 IN COOPER/EROMANGA BASINS
* UNDER PROPOSED JV, CO TO BECOME OPERATOR WITH 42.5%, BRIDGEPORT TO HAVE 21.25%, METGASCO 21.25% & UNIT OF SENEX ENERGY 15%
* UNDER TERMS OF FARM-IN, CO, BRIDGEPORT & METGASCO WILL DRILL A WELL INTO ODIN STRUCTURE WITH CO PAYING 50% OF ESTIMATED COST OF WELL