10 Oct 2006drilling progress report● Neutral
Kiana-2 is at 1,875 m, at the top of the Patchawarra Formation, pulling out to change the bit. No results yet.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 Oct 2006drilling spud● Neutral
Operator Tap Oil confirms Cutter-1 spudded 9 October; the rig is on location and a pilot hole is drilled to 538 m. Target about 3,000 m in roughly 30 days. Beach holds 20%.
9 Oct 2006drilling progress report● Neutral
Kiana-2 is at 1,645 m, drilling in the Adori Sandstone, after a deviation-correction tool change. No results yet.
9 Oct 2006drilling progress report● Neutral
Sunshine Gas reports Champagne Creek 2 drilling at 2,630 m in Triassic sediments, near the 2,700 m planned depth. Beach has the option to earn 50% after the well.
6 Oct 2006drilling progress report● Neutral
Kiana-2 is drilling ahead at 1,170 m (target 2,020 m). No results yet.
5 Oct 2006drilling progress report● Neutral
Kiana-2 remains at 788 m, drilling through cement after setting surface casing. No results yet.
4 Oct 2006drilling progress report▼ Bad
Weekly report: Glenaire-1 plugged back to 3,028 m and preparing to sidetrack due to deviation problems. Kiana-2 at 788 m; Champagne Creek at 2,505 m; Cutter-1 not yet drilling; Tipton West wells continuing.
4 Oct 2006drilling progress report● Neutral
Great Artesian reports Kiana-2 at 788 m, preparing to cement surface casing. No results yet; repeats known well details (Beach 40% operator, 520,000-870,000 barrels potential).
4 Oct 2006drilling progress report▲ Good
Sunshine Gas says Champagne Creek 2 is at 2,505 m, about 500 m below the original depth, with encouraging gas shows in the Triassic. A planned sidetrack was abandoned after equipment failure. Beach retains its option to earn 50% after the well.
3 Oct 2006drilling progress report● Neutral
Magellan (30% partner) confirms Kiana-2 spudded 1 October and was at 307 m, with about 14 days to drill and evaluate. Kiana-1 had produced over 81,000 barrels to end August. Repeats known information.
3 Oct 2006drilling progress report● Neutral
Kiana-2 is at 788 m, preparing to run 9 5/8" surface casing. Planned depth is 2,020 m. No results yet.
2 Oct 2006drilling spud● Neutral
Kiana-2 appraisal well spudded 1 October and is at 307 m after a bit change at 157 m. It is the first of five back-to-back wells in PEL 107 (Beach 40% operator).
29 Sept 2006drilling scheduled● Neutral
Great Artesian says Kiana-2 (Beach 40% operator) will spud around 30 September to 1 October to 2,020 m, appraising a sub-culmination with 520,000-870,000 barrels potential. Kiana-1 currently flows about 400 bopd, below the 443 bopd earlier reported.
26 Sept 2006drilling result▼ BadMajor
Somerton-1 reached 1,835 m with no shows in the Birkhead, Hutton or Poolowanna, and logs show all objectives water-bearing. It will be plugged and abandoned. A second dry hole in PEL 92 after Snowden-1 (Beach 75%, Cooper 25%).
26 Sept 2006drilling progress report● Neutral
Weekly report: Somerton-1 is dry at 1,836 m and being abandoned. Glenaire-1 is at 3,002 m with 7" casing cemented. Champagne Creek-2A is drilling at 1,609 m. Tipton West has 55 of 75 wells done.
22 Sept 2006drilling progress report● Neutral
Cooper Energy reports Somerton-1 at 1,426 m with no shows in the Namur Sandstone. Drilling continues toward the Birkhead/Hutton target at about 1,600 m.
19 Sept 2006drilling scheduled● Neutral
Bow Energy says Beach has released Hunt Rig 2 to it to drill Banff-1, spud about 25 September to 1,650 m. This is Bow's well; Beach's role is supplying the rig, consistent with the earlier rig arrangement.
19 Sept 2006drilling scheduled● Neutral
Sunshine Gas says Champagne Creek 2A in ATP 768P will begin drilling by the end of the week to test the Clematis Sandstone, with up to ~60 bcf potential. Beach can earn 50% of the permit after the well. This follows the farm-in option.
19 Sept 2006drilling progress report● Neutral
Weekly report: Somerton-1 spudded 17 September and is cased at 656 m. Kenmore-41 reached 1,452 m with oil recoveries and was cased for later completion as an oil producer. Glenaire-1 is at 2,154 m. Tipton West has 50 of 75 wells done.
18 Sept 2006drilling progress report● Neutral
Cooper Energy reports Somerton-1 spudded at midnight Saturday and drilled to the 9 5/8" casing point at 655 m. Casing is about to be run. No results yet.
13 Sept 2006drilling scheduled● Neutral
Cooper Energy says Somerton-1 in PEL 92 (Beach 75% operator, Cooper 25%) will spud 17 September to 1,852 m. It estimates P50 recoverable oil of 0.6 mmbbl in the Namur and 0.4 mmbbl in the Birkhead/Hutton, with a 29% chance of success.
12 Sept 2006drilling progress report● Neutral
Weekly report: Snowden-1 abandoned as dry after reaching 1,906 m. Kenmore-41 is at 1,185 m. Glenaire-1, spudded 8 September, is at 448 m. Tipton West has 47 of 75 wells done.
12 Sept 2006drilling result▼ BadMajor
Snowden-1 in PEL 92 reached 1,906 m and recorded no significant hydrocarbon shows in the Birkhead, Hutton or Poolowanna objectives. It was being plugged and abandoned, and the rig was to move to Somerton-1 (Beach 75%, Cooper 25%).
12 Sept 2006farm in farm out agreement▲ Good
Arrow Energy says Beach has elected to spend up to A$3m to farm into Arrow's Dalby South Block in ATP 683P, to appraise the Meenawarra field. Beach has two further A$2m elections available over 24 months. This builds on the Tipton West partnership, where Beach holds 40%.
8 Sept 2006drilling spud● NeutralMajor
Beach spudded Glenaire-1 on 8 September, a gas exploration well in the onshore Otway Basin, Victoria (PEP 160). Beach operates with 50%, Santos 30%, Origin 20%. Planned depth is 3,945 m, taking about 63 days, with mean potential of 68 BCF.
8 Sept 2006drilling progress report▼ Bad
Cooper Energy reports Snowden-1 at 1,548 m. The Namur Sandstone was reached at 1,331 m as predicted but showed no hydrocarbons. Drilling continues toward the Birkhead and Hutton targets.
6 Sept 2006drilling progress report● Neutral
Weekly report: Snowden-1 spudded 1 September and was at 666 m. Kenmore-40 was drilled to 1,452 m and abandoned after recovering only 8 barrels of mud, water and oil. Kenmore-37 was cased with connection imminent, and Tipton West had 43 of 75 wells done.
31 Aug 2006drilling scheduled● Neutral
Cooper Energy says Snowden-1 in PEL 92 (Beach 75% operator, Cooper 25%) will spud 1 September to 1,906 m. It estimates P50 undiscovered oil of 0.8 mmbbl in the Namur and 0.4 mmbbl in the Birkhead/Hutton, with a 25% chance of success.
30 Aug 2006drilling result● Neutral
Sunshine Gas reports its UK Wellington 1 well found no hydrocarbons and will be abandoned. It says the Champagne Creek 2 Deep well, part of the Beach farm-in, will be drilled in September. This is not a Beach well.
29 Aug 2006drilling progress report● Neutral
Weekly report: Tennyson-1 plugged and abandoned after DST-2 gave only 0.03 mmcfd. Kenmore-40 spudded 26 August. Revenue-1's Birkhead flowed 1,100 bopd, with first oil expected mid-September. Tipton West has 43 of 75 wells done.