19 Apr 2006drilling progress report● Neutral
Stuart reports Harpoono #3 is running in with test tools for a second Murta test at 1161-1164 m. Beach holds 33%. Routine, no result.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Apr 2006drilling progress report● Neutral
Beach weekly report: Christies-5 cased as an oil producer after tests of 85 and 318 bopd; Silver Sands-1 rigging up; Harpoono-3 at 1490 m with a water-bearing first test; Basker-3 at 3730 m. Mostly repeats known results.
18 Apr 2006drilling result● Neutral
Stuart reports Harpoono #3 reached 1490 m; the first Murta test recovered water with a trace of oil. The well defines the eastern edge of the McKinlay oil pool found in Harpoono-2. Second test to follow; Beach holds 33%.
13 Apr 2006drilling progress report● Neutral
Stuart reports Harpoono #3 at 354 m, running surface casing. Beach holds 33%. Routine progress, no result.
12 Apr 2006drilling spud● Neutral
Stuart reports Harpoono #3 spudded 11 April and is drilling surface hole at 81 m, targeting Murta and McKinlay oil to 1480 m. Beach holds 33%. Follow-up to the Harpoono-2 discovery; no result yet.
11 Apr 2006drilling progress report● Neutral
Beach weekly report: Christies-5 at 1647 m nearing total depth; Harpoono-3 about to spud; Basker-3 drilled to 2915 m; Tipton West wells progressing (four of 85 done). Repeats known activity, no new result.
11 Apr 2006drilling progress report● Neutral
Cooper reports Christies-5 at 1,742 m, with Top Hutton at 1,637 m and fluorescence in the Birkhead target. Total depth of 1840 m expected that day, then logging. No test result yet.
10 Apr 2006drilling progress report● Neutral
Cooper reports Christies-5 repaired and drilling resumed on 9 April, now at 1,468 m. Namur showed good oil fluorescence; total depth about 1850 m is expected in two days.
5 Apr 2006drilling progress report▼ Bad
Cooper reports Christies-5 drilling suspended at 1376 m after a rig hoisting-system fault, awaiting repairs and safety inspection. The Namur was reached as expected. A delay, not a result.
4 Apr 2006drilling result▲ Good
Stuart reports the Harpoono 2 Murta test flowed 240 bopd. The well will be cased as a dual McKinlay and Murta oil producer and tied into existing facilities. Final drilling report; Beach holds 33.33%.
4 Apr 2006drilling progress report● Neutral
Beach weekly report: Christies-5 at 1270 m; Harpoono-2 discovery and dual completion; Basker-5 cased and suspended, Basker-3 at 1163 m; two more Tipton West wells completed. Repeats known results.
4 Apr 2006drilling progress report● Neutral
Cooper reports Christies-5 drilling at 1270 m after setting surface casing. Logging follows at about 1850 m, and an open-hole production test is possible. Routine progress.
3 Apr 2006drilling result▲ GoodMajor
Stuart reports Harpoono 2 found a new McKinlay oil pool, flowing 1080 bopd with no water from a test at 1191-1196 m. Beach holds 33.33%. A second test on the Murta zone was about to run.
3 Apr 2006resource reserve update▲ GoodMajor
Arrow Energy said 2P reserves at Tipton West rose 50 PJ to 174 PJ, from 124 PJ, and 3P reserves rose 159 PJ to 2265 PJ, as certified by NSAI. Beach holds 40% of the field.
31 Mar 2006drilling spud● Neutral
Cooper Energy reports Christies-5 spudded 30 March and is at 369 m. Beach operates with 75%, Cooper 25%. Routine appraisal spud.
31 Mar 2006drilling result▲ GoodMajor
Anzon reports Basker-5 reached 3640 m with better-than-expected logs: 57.4 m of hydrocarbon pay (18.3 m oil, 33.5 m gas), and the structure top over 20 m higher than expected. Wells are due to be perforated in early May; a reserves review follows drilling.
31 Mar 2006drilling progress report● Neutral
Stuart reports Harpoono 2 at 1128 m, with the primary Murta target expected to be drilled that day. Beach has 33.33%. Routine, no result yet.
31 Mar 2006drilling spud● Neutral
Beach confirms Christies-5 spudded 30 March, drilling at 369 m toward a planned 1840 m. It appraises the north-west extent of the 2003 Birkhead/Hutton oil pool and is the second Christies well; Beach 75%.
30 Mar 2006drilling progress report● Neutral
Stuart reports Harpoono 2 drilling ahead at 690 m. Beach has 33.33%. Routine, no new result.
29 Mar 2006drilling progress report● Neutral
Stuart reports Harpoono 2 still at 354 m, making up a new drilling assembly. Beach has 33.33%. Routine, no new result.
28 Mar 2006drilling progress report● Neutral
Beach's weekly report: Christies-4 cased and suspended, with Christies-5 due to spud around 31 March. Basker-5 reached 3640 m; Harpoono-2 at 354 m; Tipton West wells progress (3 of 85 completed). No new significant results.
28 Mar 2006drilling progress report● Neutral
Stuart reports Harpoono 2 at 354 m, preparing to run surface casing. Beach has 33.33%. Routine, no new result.
27 Mar 2006drilling result▲ Good
Beach reports Christies-4 will be cased and suspended after finding oil pay. A repeat test (DST 2) flowed 653 bopd of oil plus 1150 barrels of water a day. It extends the 2003 Birkhead/Hutton discovery south-east; Christies-5 is the second well in the program.
27 Mar 2006drilling result▲ Good
Partner Cooper Energy reports Christies-4 reached 1859 m, with oil on logs and an open-hole test flowing 650 bopd with 1150 barrels of water a day. The well will be cased and suspended for completion and tie-back. Cooper's final release on this well.
27 Mar 2006drilling spud● Neutral
Stuart Petroleum spudded Harpoono 2 on 27 March, with Harpoono 3 to follow. Beach holds 33.33% and Stuart is operator. The wells target Murta oil (pre-drill P50 oil in place 0.69 million barrels) and a possible McKinlay oil pool; success could add two more exploration wells.
24 Mar 2006farm in farm out agreement▲ Good
Media release on the VIC/P46 farm-in (17.5% to 50%, Beach operator; Mitsui subsidiary Mittwell holds 25%). Management says the Fermat prospect could hold over one trillion cubic feet of gas, which is a pre-drill estimate. Next Basker cargo is over 410,000 bbl.
24 Mar 2006farm in farm out agreement▲ GoodMajor
Beach agrees to farm in to acquire a further 32.5% of Otway Basin permit VIC/P46, lifting its stake from 17.5% to 50% and taking over as operator. 3D seismic is planned later in 2006, with one well in 2007; subject to documentation and assignment.
24 Mar 2006farm in farm out agreement▲ GoodMajor
Essential Petroleum (the permit's current operator) says it accepted Beach's offer to lift Beach's stake in offshore Otway Basin permit VIC/P46 from 17.5% to 50%. Beach becomes operator; Essential keeps 25% and is substantially carried through a 3D seismic and drilling program costing over $20m.
21 Mar 2006drilling progress report● Neutral
Beach starts weekly drilling reports. Christies-4 at 911 m; Basker-5 at 3191 m with Basker-3 and 4 cased at the surface; Tipton West wells being drilled. No new results.
21 Mar 2006drilling progress report● Neutral
Cooper Energy reports Christies-4 at 911 m, with 9 5/8-inch casing set. Drilling continues toward 1684 m, with a possible open-hole production test. Routine progress.