5 Apr 2006drilling progress report● Neutral
Pritchard-1 reached 1333m. The top of the Pebble Point Formation was hit at 1311m as predicted, but no significant shows were reported; drilling continues deeper.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Apr 2006drilling progress report● Neutral
Pritchard-1 reached 1158m and is running back in after a bit change. No results yet.
3 Apr 2006drilling progress report● Neutral
Pritchard-1 reached 1098m, drilling in the Pember Mudstone, short of the roughly 1,300m main targets. No results yet.
31 Mar 2006drilling progress report● Neutral
Casing was run and cemented at Pritchard-1; blowout preventers are being installed before drilling resumes. No results yet.
30 Mar 2006drilling progress report● Neutral
Pritchard-1 reached its planned casing point of 836m and is preparing to run casing. No results yet.
29 Mar 2006drilling progress report● Neutral
Pritchard-1 reached 558m and is drilling ahead. No results yet.
28 Mar 2006drilling spud● NeutralMajor
Pritchard-1 spudded at 1900 hours on 27 March 2006 and reached 239m by the next morning, drilling ahead. This starts the first well in Bass Strait Oil's new Otway Basin farm-in.
28 Mar 2006drilling spud● Neutral
Bass Strait Oil confirms Pritchard-1 began drilling and was at 239m. It earns the right to a 25% interest in PEP 151 by contributing to the well, plus a right to 15% of adjacent PEP 150.
24 Mar 2006drilling scheduled● Neutral
Operator says Pritchard-1 rig-up is ahead of schedule, with spud expected 26 March 2006 and first casing point of 850m by 30 March. Repeats the 50/25/25 interest split.
20 Mar 2006drilling scheduled● Neutral
Operator Essential Petroleum says preparations for Pritchard-1 are complete and the rig is mobilising, with spud expected early next week. If interests are taken up, PEP 151 would be split 50% Essential, 25% Bass Strait Oil, 25% Inland Oil.
20 Mar 2006drilling scheduled● Neutral
The drilling rig for Pritchard-1 is due to be released from its current well, with drilling now expected to start next week. A further short timing slip for the PEP 151 well.
1 Mar 2006drilling scheduled● Neutral
Pritchard-1 in PEP 151 is now expected to start drilling around 20 March 2006, depending on rig availability. Target depth is about 1300 metres, and Bass Strait Oil can earn 25% by contributing to the well.
9 Feb 2006farm in farm out agreement● Neutral
Operator Essential Petroleum says Inland Oil Resources will also earn 25% of PEP 151 by funding Pritchard-1, alongside Bass Strait Oil's 25%. Pritchard-1 targets 4 million barrels at the Pebble Point level, with a deeper 10 million barrel target.