15 Dec 2006drilling progress report● Neutral
Dunoon 2 (Beach 33.3%) is running in the hole for a third drill stem test, over 1,449-1,461 m in the Murta Member, after two misruns. No result yet.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Dec 2006drilling progress report● Neutral
Magellan weekly report repeats Cabbots-1 (Beach operator 40%) at 2,248 m drilling in the Patchawarra at 13 December. No new result.
14 Dec 2006drilling progress report● Neutral
Dunoon 2 (Beach 33.3%) drill stem testing is delayed: tool failures stopped two tests of the Murta Member. New tools are awaited, with testing planned for 15 December.
13 Dec 2006drilling progress report● Neutral
Beach weekly report: Cabbots-1 at 2,248 m; Dunoon-2 at TD 1,456 m, first Murta test misrun; Yanda-22 cased as Murta oil producer; Tipton West wells 106, 111, 112 completed and the year's program there is finished.
13 Dec 2006drilling progress report● Neutral
Cabbots-1 (Beach operator 40%) is at 2,248 m, drilling ahead in the Patchawarra Formation. No result yet.
12 Dec 2006drilling progress report● Neutral
Cabbots-1 (Beach operator 40%) is at 2,076 m in the Patchawarra Formation, the primary target, after a bit change. No result yet.
12 Dec 2006drilling progress report● Neutral
Dunoon 2 (Beach 33.3%) at 1,460 m is running test tools for a drill stem test of the Murta Member, 1,150-1,161 m. No result yet.
11 Dec 2006drilling result● Neutral
Dunoon 2 (Beach 33.3%) reached total depth of 1,460 m with oil shows in the Murta and McKinlay members; logs and possibly drill stem tests will evaluate them. Shows only, not a discovery yet.
11 Dec 2006drilling progress report● Neutral
Cabbots-1 (Beach operator 40%) is at 1,976 m in the Poolowanna Formation, drilling ahead toward planned 2,440 m. No result.
8 Dec 2006drilling progress report● Neutral
Cabbots-1 (Beach operator 40%) remains at 854 m, waiting on cement after running surface casing. No result.
8 Dec 2006drilling progress report● Neutral
Dunoon 2 (Beach 33.3%) is drilling the main hole at 940 m toward planned 1,470 m. No result yet.
7 Dec 2006drilling progress report● Neutral
Great Artesian reports Cabbots-1 at 854 m, running surface casing. Pre-drill estimate is mean recoverable 420,000 barrels, up to 800,000 if filled to spill. Beach operates with 40%. No result yet.
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.
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.
24 Nov 2006other● Neutral
Beach's Reg Nelson tells Great Artesian that Beach, holding about 19%, will for now keep treating its stake as a strategic investment. This responds to speculation about Beach's intentions.
24 Nov 2006director officer appointment● Neutral
Beach will not use its discretion to keep Dr Ray Shaw as Great Artesian managing director beyond 31 December 2006, so he will resign and the board will seek a replacement. Beach holds 19.9% of Great Artesian and is partner on its wells.
23 Nov 2006investor presentation▲ Good
Chairman's AGM address reviews growth since 2002, citing the Delhi acquisition (effective 1 July 2006), ASX 200 entry and market cap above A$1bn. Largely repeats known facts; no new figures beyond 843m shares after the rights issue.
23 Nov 2006other▲ Good
Press release repeating the chairman's AGM address: market cap above A$1bn, ASX 200 entry, and 2P reserves rising from 36 to 101 million barrels of oil equivalent with Delhi. No new information.