The first vintage under the AXA Millesime regime, but predating Christian Seely’s tenure, the 1994 Quinta do Noval Vintage has a conservative bouquet that is quite earthy with hints of game and leather. It has moderate definition, but conservative, and is missing the exuberance of its Nacional counterpart. The palate is medium-bodied with a fine line of acidity and powdery tannins. There are touches of black pepper and game interwoven into the black fruit, while later burnt toast and tobacco surface. But the Noval ’94 does not “fly” like the Nacional, and instead settles for being an improvement on its nadir during the 1980s rather than exploiting that great Douro vintage. This drank so well until a few years ago, but now it looks to be in decline. Drink now-2018. Tasted January 2014.