Past year: ▼ 33%(83.5c – 1.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Mar 2007drilling progress report● Neutral
Beach weekly report: Fly Lake 23 reached 2,944 m, and Dullingari 60 was plugged and abandoned. Tequila 1 (Beach 39%) is fishing for logging tools after a Murta test. Meenawarra-4 is suspended for testing. No significant new result.
28 Mar 2007drilling progress report● Neutral
Strike Oil says Kewarra-1 in ATP633P (Beach operator 85%, Strike 15%) was due to spud 28 March, targeting about 0.7 million barrels of recoverable oil to 1,600 m. The rest covers Strike's Texas well.
22 Mar 2007drilling result▲ Good
Drillsearch reported that Gunna North 1, an oil delineation well in the Naccowlah Block (Beach 39%), found 2.4 m of net oil pay in the Murta Member. The well was cased and suspended as a future oil producer, and the rig was released on 21 March 2007.
22 Mar 2007drilling scheduled▲ GoodMajor
Beach announces at least 24 wells in the Naccowlah Block this quarter under the Cooper Oil Program, costing Beach A$21m and possibly adding 1,000 bopd net. Kewarra-1, its first well in ATP633P (Strike Oil 15%), spuds late March. Extends the Cooper oil push.
21 Mar 2007drilling progress report● Neutral
Beach weekly report: Epsilon-11 cased and suspended as a gas well at 2,221 m, and Gunna North 1 (Beach 39%) is preparing production casing after 2.4 m of net Murta oil pay. Fly Lake 23 and Dullingari 60 are drilling.
14 Mar 2007drilling progress report● Neutral
Beach weekly report: Moomba-177 reached 2,371 m and is cased and suspended for later deepening. Epsilon-11 is drilling at 1,890 m. Coal seam gas coring continues at Meenawarra-4 and River Road-3. No new result.
8 Mar 2007drilling progress report● Neutral
Magellan's weekly report confirms Telowie-1 was plugged and abandoned at 1,384 m with minor Murta shows, ending the two-well PEL 94 program. The rest covers Magellan's own Muthero and Burrum wells.
7 Mar 2007drilling progress report● Neutral
Beach weekly report: Telowie-1 plugged and abandoned at 1,384 m. Dullingari-59 cased and suspended as a future oil producer, and Moomba-177 is drilling. Tipton-26 is suspended for testing. No new result.
6 Mar 2007drilling result▼ BadMajor
Telowie-1 (Beach operator, 50%) was plugged and abandoned at 1,384 m. The Murta test recovered only 0.5 litres of oil, not commercial. Another dry PEL 94 hole after Tunkalilla-1. Focus shifts to the Dunoon Horst.
2 Mar 2007drilling progress report● Neutral
Victoria Petroleum reports Telowie-1 is at 1,384 m and preparing a drill-stem test of the Murta formation at 1,078-1,081 m. Result pending.
1 Mar 2007drilling progress report● Neutral
Magellan's weekly report shows Telowie-1 (Beach operator, 50%) at 1,321 m with minor Murta oil shows, heading to 1,367 m. The rest covers Magellan's own Muthero-5 well. No result yet.
1 Mar 2007drilling progress report● Neutral
Victoria Petroleum reports Telowie-1 reached 1,384 m, deeper than the 1,367 m planned, and is running wireline logs. No result yet on whether oil is present.
28 Feb 2007drilling progress report● Neutral
Beach weekly report: Telowie-1 at 1,306 m drilling in the Namur Sandstone. Coonaberry-2 and Dullingari-59 have production casing set, and Fly Lake-22 reached 2,941 m. Tipton-26 is being logged. No new result.
28 Feb 2007drilling progress report● Neutral
Victoria Petroleum reports Telowie-1 (Beach operator, 50%) at 1,306 m and drilling ahead. The report repeats earlier prospect details. No new result.
27 Feb 2007drilling progress report● Neutral
Victoria Petroleum reports Telowie-1 (Beach operator, 50%) at 958 m and drilling ahead toward a planned 1,367 m. It cites 6.6 million barrels of potential if oil is present. No new result.
26 Feb 2007resource reserve update● Neutral
Great Artesian published its own reserves and resources statement for its South Australian permits, including those Beach operates. Beach holds a call-option-linked stake of about 19.9% in Great Artesian. Figures are net to Great Artesian, not Beach.
26 Feb 2007drilling spud● Neutral
Beach spudded Telowie-1 in PEL 94 on 23 February, operator with 50%. It reached 586 m. Victoria Petroleum cites 6.6 million barrels potential if oil is present, to 1,367 m. Follows the dry Tunkalilla-1.
22 Feb 2007drilling progress report● Neutral
Magellan's weekly report confirms Tunkalilla-1 was dry with no shows at 1,422 m. Beach (operator, 50%) moves the rig to Telowie-1 in PEL 94, with a mean 2.1 million barrel Namur oil potential. Spud is expected later this week.
21 Feb 2007drilling progress report● Neutral
Beach weekly report: Tunkalilla-1 plugged and abandoned at 1,422 m. Coonaberry-2 reached 2,833 m and is being prepared for logging. Dullingari-59 reached 1,828 m and Fly Lake-22 is at 2,939 m in basement. No new result.
19 Feb 2007drilling result▼ BadMajor
Tunkalilla-1 (Beach operator, 50%) reached 1,422 m with no hydrocarbon shows and will be plugged and abandoned. Another dry Cooper exploration hole. The rig moves to Telowie-1.
16 Feb 2007drilling progress report● Neutral
Victoria Petroleum reports Tunkalilla-1 is nippling up the blowout preventer at 651 m after setting casing. No new result.
15 Feb 2007drilling progress report● Neutral
Magellan's weekly report repeats that Tunkalilla-1 (Beach operator, 50%) spudded 13 February and was at 226 m. The rest covers Magellan's own Muthero wells. No new result for Beach.
15 Feb 2007drilling progress report● Neutral
Victoria Petroleum reports Tunkalilla-1 is preparing to run surface casing at 651 m. No new result.
14 Feb 2007drilling spud● Neutral
Victoria Petroleum reports Beach, as operator, spudded Tunkalilla-1 in PEL 94 on 13 February. Beach holds 50%. The well targets 1.8 million barrels of potential oil to 1,405 m. Drilling at 226 m.
14 Feb 2007drilling progress report● Neutral
Beach weekly report: Tunkalilla-1 (Beach 50%) is drilling surface hole at 226 m. Dullingari-58 is cased and suspended after a Murta test recovered 5 barrels of oil. Fly Lake-22 is stuck and Coonaberry-2 is drilling again.
7 Feb 2007drilling progress report● Neutral
Beach weekly report: Dullingari-58 reached 1,822 m and is being logged, Fly Lake 22 is drilling surface hole, and Coonaberry-2 and Moorari 12 remain suspended. Tipton-26 is installing blowout preventers. No new result.
31 Jan 2007drilling progress report● Neutral
Beach weekly report: Appadare-1 plugged and abandoned at 1,922 m; Wilpinnie-4 cased and suspended at 1,587 m. Coonaberry-2 and Moorari 12 are suspended by road closures.
30 Jan 2007farm in farm out agreement● Neutral
Re-release of the 30 January Petratherm-Beach geothermal joint venture news release, repeating the Paralana farm-in terms of 21% for A$10m, with up to 36% for a further A$20m. No new information.
30 Jan 2007farm in farm out agreement● NeutralMajor
Beach farms into Petratherm's Paralana geothermal project in South Australia, earning 21% for A$10m across two wells, with an option for a further 15% for A$20m. Beach can withdraw after the first well. First geothermal move for the company.
30 Jan 2007farm in farm out agreement● Neutral
Petratherm's media release repeats the Paralana farm-in: Beach earns 21% for A$10m, up to 36% with A$20m more. Drilling is due in the second half of 2007. Beach's MD calls it a strategic expansion toward alternative energy.
