Past year: ▼ 33%(83.5c – 1.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
1 Aug 2006drilling result▲ Good
Weekly report: Callawonga-1 reached 1,936 m with about 8 m net oil pay; most likely recoverable 1.5 million barrels (range 1.0-2.1). 3-D seismic planned Nov-Dec. Kiana-1 flowing 500 bopd; Tipton West 25 wells completed.
1 Aug 2006other● Neutral
Beach says it has expressed some interest in Delhi Petroleum assets and the FIELDS loan notes and is evaluating its position, but has made no offer. An expression of interest does not mean an offer will follow.
28 July 2006production update▲ Good
Great Artesian reports Kiana oil production resumed after pump installation, the upper Patchawarra zone free-flowing about 400 barrels a day with no water. Total about 800 a day expected once the lower zone is added. Beach operates with 40%.
28 July 2006drilling progress report● Neutral
Cooper reports Callawonga-1 at 1,713 m. Oil shows persist to 1,351 m, possibly a 10 m oil column pending logs. The Hutton was entered at 1,638 m with no shows. Beach 75%.
27 July 2006debt financing▲ GoodMajor
Beach secures an unsecured A$100 million corporate facility from Commonwealth Bank, against current debt of A$1 million. It can fund Basker-Manta start-up, new opportunities and possible faster gas/condensate development. Beach says the 69-well program is funded from cashflow.
26 July 2006well test result▲ Good
Cooper repeats the Callawonga-1 discovery: the Namur test flowed 2,400 barrels of oil a day, no water. Drilling continues to deeper targets. Beach 75% operator.
26 July 2006drilling result▲ GoodMajor
Beach announces a new oil field discovery at Callawonga-1, about 7 km from Christies facilities. The Namur test flowed 2,400 barrels a day with no water. Beach holds 75% and is operator.
25 July 2006drilling progress report▲ Good
Cooper reports Callawonga-1 at 1,346 m with oil shows in good sands at the top of the Namur. An open-hole production test over 1,342-1,346 m is next. Beach 75%.
25 July 2006drilling progress report▲ Good
Weekly report: Callawonga-1 oil shows in Namur, test pending. Kenmore-37 found about 4-5 m net oil pay, to come online mid-August. Kenmore-38 next. Tipton West still 22 wells completed.
20 July 2006drilling spud● Neutral
Cooper reports Callawonga-1 spudded 19 July and was at 160 m. Namur target expected in about 5 days. Beach 75% operator.
18 July 2006drilling progress report● Neutral
Weekly report: Callawonga-1 still delayed by wet weather. Kenmore-37 spudded 15 July and was drilling at 860 m. Revenue-1 cased and suspended, with testing in August. Tipton West has 22 of 75 planned wells completed.
17 July 2006drilling progress report● Neutral
Cooper reports Callawonga-1 spudding is delayed by road closures from heavy rain, expected within days. Beach 75%.
13 July 2006security holder rights change● Neutral
Beach reports 2,062,096 of its 2005 bonus options expired unexercised on 30 June 2006. Issued capital is 535,635,169 shares and 45,436,681 $1.00 options expiring 30 September 2006.
12 July 2006drilling scheduled● Neutral
Cooper says Callawonga-1 in PEL 92 will spud 14 July, targeting the Namur and Hutton sandstones to 1931 m. P50 prospect recoverable is 1 million barrels in Namur and 0.7 million in Hutton; 32% chance of success. Beach 75% operator.
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%.
5 July 2006production update▲ Good
Anzon reports Basker-3 retested at 7,105 barrels a day after a faulty valve was bypassed, up from last week's 3,552. This is in line with other Basker wells. The Basker-2 gas leak cause was found. Beach holds 50%.
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 2006well test result▼ Bad
Beach reports the Boomer-1 Murta test (1150-1165 m) had no flow to surface, recovering about 0.9 barrels of oil/water emulsion and 2 barrels of mud. Drilling continues toward the Namur target. Beach 75%.
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 2006other▲ GoodMajor
Beach announces a drilling program of 69 exploration and appraisal wells in 2006-07, up from 19, costing over A$100m. It targets production above 5 million boe in 2007-08 versus 1.4 million this year. Basker-Manta full field due October at about 12,500 bopd net.
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%.
