12 Jan 2006drilling progress report● Neutral
Magellan's weekly report: Udacha-1 at 468 m. It also reports Currambar-1, a non-Beach well, cased and suspended. Nothing new for Beach.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 Jan 2006drilling spud● Neutral
Partner Rawson Resources reports Udacha-1 spudded at 11.30am on 11 January 2006. Rawson would earn 10% of any production licence. Beach is operator with 15%. Duplicate of known news from a partner's perspective.
11 Jan 2006drilling spud● Neutral
Beach-operated Udacha-1 is due to start drilling on 11 January, targeting 2775 m in about 19 days. Beach holds 15% of any production licence. Great Artesian also reported Kiana-1, another oil discovery, produced 6,955 barrels by end-December.
11 Jan 2006drilling spud● NeutralMajor
Beach confirms Udacha-1 spudded 11 January 2006 at 11:30am, with a planned depth of 2775 m and about 19 days to drill. Beach is operator with 15%, subject to discovery. Middleton-1 (Beach 50%) is expected to follow around 5 February.
4 Jan 2006drilling scheduled● Neutral
Great Artesian says Udacha-1 will spud around 11-12 January 2006, with Beach as operator holding 15% of any production licence. Beach also funds and operates Middleton-1 next (due early February, 50% of any licence). Rossco-1 is being cased as a possible gas producer.