Past year: ▼ 33%(83.5c – 1.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
11 July 2006drilling progress report● Neutral
Weekly report confirms Boomer-1 (1,775 m) found no commercial hydrocarbons and was abandoned. Kenmore-36 was inconclusive and cased for testing. Kiana-1 nears restart; Middleton-1 and Udacha-1 completed for gas, with August production tests. Revenue-1 casing run; Basker-3 flowed 7,105 bopd.
10 July 2006drilling result▲ GoodMajor
Stuart reports Revenue-1 found a new oil pool in the McKinlay Formation, with about 2 m of oil pay on logs. Hole conditions prevent testing, so the well will be cased. Murta and Birkhead shows to be tested later. Beach 33.3%.
7 July 2006drilling result▼ BadMajor
Cooper reported that Boomer-1 in PEL 92 reached 1,775 m, was logged and cored, and was being plugged and abandoned, ending the well. The Century 3 rig was to move to Callawonga on 13 July; Beach held 75% and Cooper 25%.
7 July 2006drilling progress report● Neutral
Stuart reports Revenue-1 still at 1546 m on a wiper trip; logging tools could not pass 382 m. No results yet. Beach holds 33.3%.
6 July 2006drilling progress report● Neutral
Stuart reports Revenue-1 reached total depth of 1546 m and is on a wiper trip before wireline logging. No results yet. Beach holds 33.3%.
5 July 2006drilling progress report● Neutral
Stuart reports Revenue-1 drilling ahead at 1449 m, planned to 1542 m, and corrects the well location on the map. Beach holds 33.3%.
4 July 2006drilling progress report▲ Good
Stuart reports Revenue-1 at 1373 m with oil shows in the Murta and McKinlay, to be evaluated by logs and tests at total depth. Beach holds 33.3%.
4 July 2006drilling progress report● Neutral
Weekly report: Boomer-1 drilling at 1,486 m after a Murta test with minor recovery. Kenmore-36 a test tool failed to set. Revenue-1 at 1,373 m with oil shows. Basker-3 flowed 3,552 bopd; Basker-2 suspended. Tipton West drilling continues.
4 July 2006drilling progress report● Neutral
Cooper reports Boomer-1 drilling ahead at 1,486 m, with Birkhead and Hutton to be evaluated next. Beach 75%. No new results.
3 July 2006drilling progress report● Neutral
Stuart reports Revenue-1 drilling ahead at 1146 m, planned to 1490 m. Beach holds 33.3%. No results yet.
3 July 2006drilling progress report● Neutral
Cooper reports Boomer-1 at 1,229 m. A Murta test (1,150-1,165 m) on oil shows gave no flow to surface and only a small oil recovery. No Namur shows yet. Beach 75%.
30 June 2006drilling progress report● Neutral
Stuart reports Revenue-1 drilled to 358 m and is waiting on cement for surface casing. Beach holds 33.3%.
29 June 2006drilling spud● Neutral
Stuart reports Revenue-1 spudded on 28 June in PEL 113, next to Rimfire-1, planned to 1490 m. Beach holds 33.3%.
27 June 2006drilling progress report● Neutral
Weekly report: Sellicks-3 is cased as a producer, due on line early July. Rimfire-1 is suspended, with a Murta extended test planned late July/August. Boomer-1 drilling at 235 m, Basker-5 flowed 5,924 bopd.
26 June 2006drilling result● Neutral
Rimfire-1 is cased and suspended as a future Murta oil producer after the third test (1189-1192 m) recovered no fluids. Final drilling report; Beach holds 33.3%. Oil was found, but only in small volumes in testing.
26 June 2006drilling spud● Neutral
Beach confirms Boomer-1 spudded in PEL 92 on 26 June, testing a 68 sq km closure to 1796 m, with the Namur Sandstone as the main target. Beach 75% operator, Cooper 25%.
26 June 2006drilling spud● Neutral
Cooper Energy reports Boomer-1 spudded in PEL 92 (Beach 75% operator, Cooper 25%), targeting the Namur Sandstone to 1796 m. Pre-drill P50 recoverable of 2.72 million barrels, with a 10% chance of success.
22 June 2006drilling progress report● Neutral
Stuart reports Rimfire-1 is running test tools in the hole for a second Murta test over 1153-1167.5 m. Beach holds 33.3%. No new result.
21 June 2006drilling progress report▼ Bad
Stuart reports the first Rimfire-1 Murta test recovered nothing, and a second test of the lower Murta (1162-1167.5 m) is being prepared. Beach holds 33.3%.
20 June 2006drilling result▲ GoodMajor
Cooper reports Sellicks-3 reached 2,215 m with two Patchawarra oil zones, one 8 m deeper than previous oil in the field. The well is being cased for completion; a Sellicks reserves upgrade will follow once Sellicks-2 and -3 results are included. Beach 75%.
20 June 2006drilling progress report● Neutral
Stuart reports Rimfire-1 reached 1509 m total depth and is running logs; a first test of the Murta sand (1154-1162 m) is next. Beach holds 33.3%. No test result yet.
20 June 2006drilling progress report▲ Good
Weekly report: Sellicks-3 logs show two oil sands with about 7 m net pay; it will be completed as a producer, connected early July. Kenmore-35 found 2 m of unswept Hutton oil pay. Basker-4 flow figures repeat earlier news.
19 June 2006farm in farm out agreement▲ GoodMajor
Sunshine Gas signs a binding heads of agreement giving Beach an option to earn 50% of ATP 768P in Queensland by funding a well at Champagne Creek. Sunshine stays operator, with drilling targeted for Q3 2006.
19 June 2006drilling progress report▲ Good
Stuart reports Rimfire-1 drilled to 1509 m total depth with oil shows in the Murta and McKinlay. Logs, and possibly drill stem tests, will assess the shows. Beach 33.3%.
19 June 2006farm in farm out agreement▲ Good
Beach details its option to earn 50% of ATP 768P by contributing to a gas well at Champagne Creek, estimated 2700 m, and reimbursing past costs. It sees 30-60 BCF recoverable in the deep target. Sunshine operates; drilling Q3 2006.
16 June 2006drilling progress report▲ Good
Cooper reports Sellicks-3 drilled to 2,146 m with oil shows in sandstones at 2,137.5-2,142 m. A production test across 2,130-2,146 m is next.
16 June 2006drilling progress report● Neutral
Beach says a second test of Sellicks-3, over 2130-2146 m in the Patchawarra, will run that day because of oil shows. Results to follow.
16 June 2006drilling progress report● Neutral
Stuart reports Rimfire-1 surface casing cemented and blowout preventers being tested at 368 m. The main Murta, McKinlay and Hutton targets are expected to be drilled over the weekend. Beach 33.3%.
15 June 2006drilling progress report● Neutral
Stuart reports Rimfire-1 surface hole drilled to 368 m and surface casing being run. Beach 33.3%. No results yet.
15 June 2006drilling result▼ Bad
Cooper reports the first Sellicks-3 Patchawarra test, 2,119-2,126 m, recovered only 37 barrels of water. Drilling continues to evaluate deeper Patchawarra sands.
