2 May 2007drilling progress report● Neutral
Sarahlyn-1 is drilling in basement at 2,753m. Wet gas readings peaked at 700 units, higher than expected, to be evaluated by logs.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 May 2007drilling progress report● Neutral
Sarahlyn-1 is at 2,685m in tight Patchawarra sandstone with no fluorescence. Gas readings of 100-300 units continue from 2,475m, to be evaluated at total depth.
30 Apr 2007drilling progress report● Neutral
Sarahlyn-1 is at 2,585m in the Toolachee Formation. A very poor fluorescence show was noted in the Callamurra Member, to be checked by logs.
27 Apr 2007drilling progress report● Neutral
Sarahlyn-1 is drilling the Tinchoo Formation at 2,364m after a bit change. No shows in the upper Tinchoo.
26 Apr 2007drilling progress report● Neutral
Sarahlyn-1 is at 2,332m. A poor fluorescence show was seen at 2,043-2,052m, to be evaluated by logs after reaching depth. No shows in the Hutton or Poolowanna formations.
24 Apr 2007drilling progress report● Neutral
Sarahlyn-1 is drilling ahead at 1,755m. No new result.
23 Apr 2007drilling progress report● Neutral
Sarahlyn-1 is drilling ahead at 1,585m with no shows reported.
20 Apr 2007drilling progress report● Neutral
Sarahlyn-1 has run and cemented its surface casing at 980m and is waiting on cement. Drilling of the next hole section is expected to start next day.
19 Apr 2007drilling progress report▼ Bad
Hole conditions stopped casing going below 18m, so Sarahlyn-1 is running a second wiper trip at 980m. A minor delay, no result.
18 Apr 2007drilling progress report● Neutral
Sarahlyn-1 finished the surface hole at 980m and is preparing to pull out before running 9 5/8-inch casing. No new result.
17 Apr 2007drilling progress report● Neutral
Sarahlyn-1 is drilling surface hole at 543m, expected to finish the section early next day. No new result.
16 Apr 2007drilling spud▲ GoodMajor
Sarahlyn-1 spudded 16 April 2007, the first PEL-182 well since Emily-1 in January 2006. It is drilling surface hole at 80m toward a planned 2,730m depth.
12 Apr 2007drilling scheduled▲ Good
Century Rig-3 contract for Sarahlyn-1 and Vanessa-1 (option for two more) is signed and the rig is mobilised, with first spud expected 14 April 2007. This ends the flood delay; AuDAX's PEL-182 interest is shown as 49.9%.
20 Mar 2007drilling scheduled▼ Bad
Flooding on Cooper Creek and local roads is delaying the start of PEL-182 drilling. Century Rig 3 is stacked at Moomba, and its option remains in force. Contract signing and mobilisation will follow once site access opens.
11 Apr 2006farm in farm out agreement▲ GoodMajor
Falcon Minerals can earn 70% of the nickel and associated base metal rights at the Marymia project by spending $1.75m within 5 years, with at least $150,000 in the first 12 months. AuDAX keeps all gold rights.
24 Jan 2006drilling progress report● Neutral
Emily-1 has run 7 inch production casing, with cementing and rig release due next. This is the final report; the well is cased and suspended after the small oil recovery.
20 Jan 2006drilling progress report● Neutral
Emily-1 wireline logging is complete. A drill stem test is planned over 1,901-1,907.5m in the lower Birkhead, where the best shows and a log anomaly were seen.
19 Jan 2006drilling progress report● Neutral
Wireline logging tools could not get below 940m in Emily-1. A wiper trip is being made before re-running logs.
18 Jan 2006drilling progress report● Neutral
Emily-1 reached total depth of 2,324m (planned 2,364m) with no further shows. Wireline logs follow, and drill stem tests may be run on any shows.
17 Jan 2006drilling progress report▼ Bad
Emily-1 is at 2,186m in the Tinchoo Formation. No significant shows in the Poolowanna or top Tinchoo, two of the three objectives; logs will evaluate further. This is less encouraging than the earlier Birkhead/Hutton show.
16 Jan 2006drilling result▲ GoodMajor
Emily-1 recorded a fair oil show at 1,901.5m near the base Birkhead/top Hutton, in the primary objective, and the zone warrants testing. Rain closed roads and blocked test equipment, so testing is deferred to wireline logs and a possible later test. Well is at 2,027m.
13 Jan 2006drilling progress report● Neutral
Emily-1 is drilling ahead in 8½ inch hole, at 1,000m. No new results.
12 Jan 2006drilling progress report● Neutral
Emily-1 surface casing is cemented and equipment tested at 800m. Drilling of 8½ inch hole was due to start that afternoon. No new results.
11 Jan 2006drilling progress report● Neutral
Emily-1 is at 800m, running the last joint of 9 5/8 inch surface casing. No new results.
10 Jan 2006drilling progress report● Neutral
Emily-1 reached 800m surface hole depth, with a wiper trip underway before running casing. No results yet.
9 Jan 2006drilling spud● NeutralMajor
Emily-1 spudded on 7 January 2006 and was drilling surface hole (448m at report time) towards a planned 2,364m. This starts the PEL-182 drilling programme in which AuDAX holds 39.9%.
5 Jan 2006drilling scheduled▲ GoodMajor
Operator Eagle Bay announced Emily-1, the first well in the new PEL-182 Cooper Basin permit, with AuDAX holding 39.9%. Pre-drill estimate is 10.5 million barrels of recoverable oil (P50), only if oil is present. Target depth is 2,364m.