Past year: ▼ 33%(83.5c – 1.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
26 June 2007drilling result▲ Good
Entek reports Marcoola-1 (ATP 269P, Beach 46.95% operator) reached 1,348 m with multiple oil shows, including 50-100% fluorescence at the basal Birkhead and Hutton. Logging and testing follow. This is encouraging after the dry Nudgee-1.
25 June 2007drilling spud● NeutralMajor
Beach reports Hurricane-2 spudded 24 June in WA-208-P, offshore Carnarvon Basin, testing for an oil leg beneath the Hurricane-1 gas discovery of 2005. Beach holds 10%. The mean prospect is 16 million barrels gross, with a 40 million barrel high side. Drilling is expected to take about 15 days.
20 June 2007drilling progress report● Neutral
Beach's weekly report showed Nudgee 1 plugged and abandoned and Marcoola 1 drilling surface hole at 130 m. Bodalla South 17 was completed at an initial 882 bopd with 4% water cut, with a pump due next week. Moomba 178 and Big Lake 85 were cased as potential gas producers.
18 June 2007drilling result▼ Bad
Entek reports Nudgee-1 (ATP 269P, Beach 46.95%), the first of three exploration wells, was plugged and abandoned after logging. The rig moved to Marcoola-1, expected to spud 19 June.
15 June 2007drilling result▼ Bad
Drillsearch reports Jalapeno 1 (Naccowlah, Beach 38.5%) found its Hutton and Murta targets low to prognosis and water wet, and was plugged and abandoned. This is another dry hole in the Cooper Oil Program exploration. Takyah 2 is not a Beach block.
13 June 2007drilling progress report● Neutral
Beach weekly report: Nudgee 1 reached 1,533 m and is being prepared for logging. Jalapeno 1 reached 1,652 m and abandonment plugs are being set. Moomba 178 is at total depth, and Tipton-128 is drilling.
7 June 2007drilling progress report● Neutral
Drillsearch reports Jalapeno 1 (Naccowlah, Beach 38.5%) is drilling ahead at 94.5 m. Enoggara 1 in Tintaburra was dry, but that block is not Beach's.
6 June 2007drilling progress report● Neutral
Beach weekly report: Bodalla South 17 is completed as an oil producer, Nudgee 1 (Beach 46.95%) is drilling its surface hole, and Golah Singh 1 is being plugged. Jalapeno 1 is still waiting on rig repairs. Tipton-110 is a potential gas producer.
1 June 2007drilling result▲ GoodMajor
Beach's two Bodalla South appraisal wells (100%) flowed oil: Bodalla South-17 at 4,617 bopd and -16 at 230 bopd on clean-up. They add an estimated 250,000 barrels of reserves, and production is expected within a month.
31 May 2007drilling progress report● Neutral
Drillsearch reports Jalapeno 1 (Naccowlah, Beach 38.5%) spudded on 25 May and is waiting on rig repairs. Inspector 1 in Tintaburra was dry, but that is not a Beach block.
30 May 2007drilling progress report● Neutral
Beach weekly report: Bogala Central-1 and Narcoonowie 5 are cased and suspended as potential oil producers. Burke 10 is cased pending a review of well integrity. Bodalla South 17 is cementing casing, and Jalapeno 1 is waiting on rig repairs.
25 May 2007drilling progress report▲ Good
Drillsearch reports Bogala Central 1 (Naccowlah, Beach 38.5%) found oil pay in the Murta and was cased and suspended as a future oil producer. Kooroopa 2 and Inspector 1 in Tintaburra are not Beach wells.
23 May 2007drilling progress report● Neutral
Beach weekly report: Moomba 31ST1 is cased and suspended as a gas producer, and Bogala Central-1 reached 1,658 m. Boongala 2 and Narcoonowie 5 are logging, and Bodalla South 17 is preparing to drill.
17 May 2007drilling progress report● Neutral
Drillsearch reports Bogala Central 1 (Naccowlah, Beach 38.5%) has spudded and is preparing to drill ahead. Kooroopa 3 in Tintaburra reached about 16 m combined oil pay, but that block is not Beach's.
16 May 2007drilling progress report● Neutral
Beach weekly report: Bodalla South 16 is cased and completed as a Hutton oil producer. Nuata East 1 is plugged and abandoned, and Burke 10 was cased and suspended after a misrun test. Bogala Central-1 and other Cooper wells continue.
10 May 2007drilling progress report▼ Bad
Drillsearch reports Nuata East 1 (Naccowlah, Beach 38.5%) found only trace oil shows and no pay on logs, and is being plugged and abandoned. Kooroopa 3 in Tintaburra found 7.5 m of oil pay, but is not a Beach block.
9 May 2007drilling progress report● Neutral
Beach weekly report: Goyder 5 and Moomba 177 are cased as potential gas producers. Burke 9 and Narcoonowie 6 are suspended or cased, with Narcoonowie 6 a potential oil producer. Nuata East 1 is preparing a test, and Bodalla South 16 is drilling.
3 May 2007drilling progress report▲ Good
Drillsearch reports Wilson 9 (Naccowlah, Beach 38.5%) found oil pay in the Murta and was cased and suspended as a potential producer. Takyah 4 in Tintaburra found about 2.5 m of oil pay, but that is not a Beach block.
2 May 2007drilling progress report▲ Good
Beach weekly report: Caroowinnie 1 tested 45.5 bbl oil in a 4-hour flow and was cased as a potential oil producer. Moomba 176 flowed 11.3 mmcfd and was suspended as a gas producer. Goyder 5 and Cooba 2 are progressing, and Wilson 9 has been cased as a potential oil producer.
26 Apr 2007drilling progress report● Neutral
Drillsearch reports Graham 2 (Naccowlah, Beach 38.5%) found oil pay and was cased and suspended as a future producer. Fajita 1 was water wet and plugged and abandoned. Ipundu North 12 is also suspended, but it is not a Beach well.
24 Apr 2007drilling progress report● Neutral
Beach weekly report: Thurakinna 6 and Moomba 39 ST1 are successful gas wells, Graham 2 is a successful oil well, and Fajita 1 is plugged and abandoned. Caroowinnie 1 is preparing a drill stem test after an earlier test recovered 2.6 bbl oil. Bodalla South 16 is drilling.
20 Apr 2007drilling progress report● Neutral
Drillsearch reports Jackson South 11 (Naccowlah, Beach 38.5%) was cased and suspended as a future oil producer. Fajita 1 is drilling at 813 m and Graham 2 is being logged after oil shows. Endeavour 37 is dry but is not a Beach well.
18 Apr 2007drilling progress report● Neutral
Beach weekly report: Kewarra-1 (Beach 85%) is plugged and abandoned at 1,630 m, closing out that well. Fly Lake 21 and Jackson South 11 are cased and suspended, Tostada 1 is a successful oil well, and Moomba 39 ST1 is a successful gas well.
12 Apr 2007drilling progress report▲ Good
Drillsearch reports Jackson South 10 and Tostada 1 in Naccowlah (Beach 38.5-39%) were cased and suspended as future oil producers, Tostada with about 4.5 m of possible net pay. Jackson South 11 is drilling.
11 Apr 2007drilling progress report● Neutral
Beach weekly report: Kewarra-1 reached 1,630 m and is being plugged and abandoned. Jackson South 10 is cased and suspended as an oil well (Beach 39%), Tostada 1 is at 1,582 m, and Moomba 36 ST1 is a gas well.
11 Apr 2007drilling result▼ BadMajor
Strike Oil reports Kewarra-1, Beach's first well in ATP633P (Beach 85%), reached 1,630 m and found only a small Hutton oil accumulation judged uneconomic. A disappointing result for the new permit.
5 Apr 2007drilling result▼ Bad
Drillsearch reports Tequila 1 (Naccowlah, Beach 39%) was plugged and abandoned after a test recovered no producible oil. Endeavour 31 was also dry. Jackson South 10 and Tostada 1 are underway in the same program.
4 Apr 2007drilling progress report● Neutral
Beach weekly report: Kewarra-1 drilling at 1,220 m. Tequila 1 (Beach 39%) was plugged and abandoned after recovering only 1 bbl of oil-cut mud, and Barina 8 was cased as a gas well. Mixed, minor results.
4 Apr 2007drilling progress report● Neutral
Strike Oil reports Kewarra-1 (Beach operator 85%, Strike 15%) was spudded 28 March and was drilling at 1,220 m, heading for the target sands. No result yet.
30 Mar 2007drilling progress report● Neutral
Drillsearch reports Mulberry 44 and Endeavour 31 in its Tintaburra block, and Tequila 1 (Beach 39%) in Naccowlah, which had oil shows and was fishing for logging tools. Only Tequila touches Beach, with no result yet.
