7 Dec 2006drilling progress report● Neutral
Dunoon 2 is at 603 m, running in the hole with an 8½-inch bit to begin the main hole section. Beach holds 33.3%. No new result.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Dec 2006drilling progress report● Neutral
Magellan reports Cabbots-1 (Beach operator, 40%) spudded 5 December and was at 521 m drilling surface hole, planned to 2,440 m. Magellan will hold 30% of any discovery. Repeats known progress; no result.
6 Dec 2006drilling progress report● Neutral
Beach morning report: Cabbots-1 (Beach 40%) drilling at 521 m; Talia-1 plugged and abandoned at 1,855 m; Dunoon-2 at 603 m; Yanda-21 cased as a Murta oil producer; Tipton West wells being completed.
6 Dec 2006drilling progress report● Neutral
Dunoon 2 has run and cemented surface casing at 603 m and is connecting well control equipment. Beach holds 33.3%. No new result.
5 Dec 2006drilling progress report● Neutral
Dunoon 2 in PEL 113 has drilled to 603 m, spudded 3 December, and is pulling out before running surface casing. Planned depth 1,470 m. Beach holds 33.3%. No result.
30 Nov 2006drilling result▼ BadMajor
Talia-1 reached 1,854 m with no significant hydrocarbon shows and will be plugged and abandoned. Beach operates with 40%. It is the second dry hole in the PEL 107 program after Keeley-1.
30 Nov 2006drilling result▼ Bad
Magellan, 20% partner, confirms Talia-1 reached 1,854 m with no significant hydrocarbon shows and will be plugged and abandoned. Repeats the Great Artesian and Beach result.
29 Nov 2006drilling progress report● Neutral
Talia-1 is at 1,773 m drilling ahead in the Hutton Sandstone after a bit change. Beach operates with 40%. No new result.
29 Nov 2006drilling progress report● Neutral
Beach weekly report: Rising Fast-1 plugged and abandoned after water-only tests; Talia-1 at 1,755 m; Yanda-24 cased as a future Murta producer; Tipton West wells 103 and 105 completed as gas producers.
28 Nov 2006drilling progress report● Neutral
Talia-1 is at 1,668 m drilling ahead in the Hutton Sandstone. Beach operates with 40%. No new result.
27 Nov 2006drilling progress report● Neutral
Talia-1 is at 1,445 m drilling ahead in the Westbourne Formation, toward planned 1,840 m. Beach operates with 40%. No new result.
27 Nov 2006drilling scheduled● Neutral
Rawson says Appadare 1 in PEL 107, operated by Beach, is scheduled to spud in late December, with Rawson earning 50% of a commercial discovery. Earlier plan was early December. Rawson's Bellbird West-1 elsewhere was dry.
27 Nov 2006drilling result▼ BadMajor
Rising Fast 1 (Beach 33.3%) is being abandoned after tests flowed water: McKinlay 1,056 bwpd and Murta 42 bbls. Stuart sees residual oil only. The earlier oil shows did not lead to a discovery. Rig moves to Dunoon 2.
24 Nov 2006drilling progress report● Neutral
Rising Fast 1 is running in the hole to drill stem test the McKinlay at 1,230-1,233 m. Beach holds 33.3%. No result yet.
23 Nov 2006drilling progress report● Neutral
Re-release of Stuart's Rising Fast 1 report, adding that mud log shows also indicate possible oil. McKinlay drill stem test is being set up. Beach holds 33.3%. No test result yet.
23 Nov 2006drilling progress report● Neutral
Magellan, a 20% partner, reports Talia-1 at 735 m preparing to run surface casing. Repeats the Great Artesian report; mean Namur resource 320,000 barrels. No new result.
23 Nov 2006drilling progress report● Neutral
Stuart reports Rising Fast 1 at 1,550 m, with wireline logs suggesting possible oil in the Birkhead, McKinlay and Murta zones. A McKinlay drill stem test is being set up. Beach holds 33.3%. Results pending.
23 Nov 2006drilling progress report● Neutral
Great Artesian reports Talia-1 at 735 m, running surface casing. Beach operates with 40%. Namur target of 0.32-0.8 million barrels. No new result.
22 Nov 2006drilling progress report● Neutral
Rising Fast 1 reached its planned 1,550 m and is making a wiper trip before wireline logging. Beach holds 33.3%. Test results still to come.
22 Nov 2006drilling progress report● Neutral
Beach weekly report: Talia-1 at 663 m drilling surface hole. Rising Fast-1 reached 1,550 m and is on a wiper trip before logging. Yanda-24 is being wireline logged, with Tipton West coal seam wells being completed.
22 Nov 2006drilling progress report● Neutral
Talia-1 is at 663 m, drilling surface hole toward 725 m before casing. Beach operates with 40%. No new result.
21 Nov 2006drilling progress report▲ Good
Rising Fast 1 is drilling at 1,371 m and has recorded oil shows in the Murta and McKinlay formations. These will be checked by logs and tests after reaching total depth. Beach holds 33.3%. An encouraging early sign.
21 Nov 2006drilling spud● Neutral
Talia-1 spudded on 20 November and is at 207 m. It is the third well in a back-to-back five-well program and targets 0.32-0.8 million barrels in the Namur. Beach operates with 40%.
20 Nov 2006drilling progress report● Neutral
Rising Fast 1 is at 1,117 m, running back in with a new bit. Planned depth is 1,550 m. Beach holds 33.3%. No new result.
20 Nov 2006drilling scheduled● Neutral
Talia-1 is due to spud on 20 November in PEL 107, targeting oil updip of the Sturt and Tantanna fields. Planned depth is 1,840 m. Namur reserves are estimated at 0.32-0.8 million barrels. Beach operates with 40%.
17 Nov 2006drilling progress report● Neutral
Rising Fast 1 is at 605 m testing blowout preventers before drilling the 8½-inch hole. Beach holds 33.3%. No new result.
16 Nov 2006resource reserve update● Neutral
Magellan repeats Beach's Udacha-1 reserves: 1.7 PJ proved and 3.4 PJ proved plus probable sales gas. Development needs a gas sales or access deal. Repeats the earlier Beach announcement.
16 Nov 2006drilling progress report● Neutral
Rising Fast 1 remains at 605 m, installing blowout preventers after setting surface casing. Beach holds 33.3%. No new result.
16 Nov 2006drilling result▼ Bad
Magellan confirms Keeley-1 found no significant hydrocarbons and is being plugged and abandoned. Two tests showed low permeability. Talia-1 is next, with Magellan at 20% under a farm-in. Repeats Great Artesian's announcement.
16 Nov 2006resource reserve update● Neutral
Rawson, a 10% Udacha-1 partner, repeats Beach's preliminary Udacha reserves: 2.8 Bcf (3.4 PJ) proved plus probable sales gas. Development depends on gas sales or tolling deals. Repeats the earlier Beach announcement.