Past year: ▼ 33%(83.5c – 1.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
25 Mar 2014drilling result▲ Good
Etty-1, the sixth ATP 855 well, reached 3,807m on 23 March with gas shows throughout the Permian section. It will be cased and suspended, with stimulation and flow testing expected in the third quarter of 2014. Beach operates with 46.9%.
25 Mar 2014drilling result● Neutral
Cooper Energy says Jolly-1 in PEL 495 reached 4,026m, cut cores in the Casterton Formation and Lower Sawpit Shale, and is being plugged and abandoned. Gas shows over 340m suggest a possible deep gas play. Bungaloo-1 in PRL 32 is next. Beach operates with 70%.
6 Mar 2014drilling progress report● Neutral
Drillsearch's February report repeats Beach's PEL 91 results: Bauer-12 and Bauer-13 both cased as future oil producers. The rest covers Drillsearch's own wells. No new Beach information.
5 Mar 2014drilling progress report● Neutral
Icon reports Etty-1 in ATP 855 has reached 2,665m and is running intermediate casing, with a planned total depth of 3,800m. It will be cased and suspended for fracture stimulation. Beach operates with 46.9%. No new result.
5 Mar 2014drilling progress report● Neutral
February report: Bauer-13 found 8m of net oil pay and, with Bauer-12, is cased as a future producer. Snatcher-11 found only poor-quality oil shows in depleted sands, and Beach did not participate. Barrolka-11/12/13 gas wells all succeeded. El Salmiya-4 spudded in Egypt.
14 Feb 2014resource reserve update▲ GoodMajor
Bauer-12 in PEL 91 found a nine-metre oil column, adding a preliminary 2.5 million barrels to Bauer 2P reserves. Bauer is producing over 13,000 bbl/d gross, above its flowline capacity, so trucks fill the gap. Beach holds 40%.
14 Feb 2014resource reserve update▲ Good
Drillsearch relays Beach's Bauer-12 announcement: a nine-metre oil column adds a preliminary 2.5 million barrels to Bauer 2P reserves, and the well will be cased as a future producer. Repeats the 14 Feb Beach release; Beach holds 40%.
11 Feb 2014drilling spud● Neutral
Icon reports Etty-1, the sixth well in ATP 855, spudded 9 February 2014 targeting about 3,800m in the Nappamerri Trough. Beach operates with 46.9%. Stimulation and flow testing are still planned from Q3 2014.
6 Feb 2014drilling progress report● Neutral
Drillsearch's January report repeats the PEL 91 results: Chiton-3 cased as a producer and Bales-1 plugged as dry. Bauer-12 is next. Mostly Drillsearch's own activity, with no new Beach information.
5 Feb 2014drilling progress report● Neutral
January report: Redland-1 cased at 3,804m; Chiton-3 oil pay confirmed; Spitfire-4 found 12m net pay; Bales-1 in PEL 91 was dry. Jolly-1 hit mechanical problems at 2,406m and was side-tracked. Barrolka and Big Lake gas wells progressing.
3 Feb 2014drilling result▲ Good
Icon says a petroleum discovery notice has been lodged for Redland-1 in ATP 855. Wireline logs show the target interval gas saturated, with mud gas readings up to 800 units. Stimulation is planned from Q3 2014.
24 Jan 2014drilling result● Neutral
Redland-1 in ATP 855 reached 3,804m with significant gas shows in the Toolachee and Daralingie formations. Etty-1 is next, and stimulation is now pushed to Q3 2014 from the earlier Q1/Q2 plan.
20 Jan 2014drilling progress report● Neutral
Icon reports Redland-1 at 3,700m, with Etty-1 to follow. A four-well stimulation campaign (Geoffrey-1, Redland-1, Etty-1, Hervey-1) is now slated for Q2 2014. Routine update.
20 Jan 2014drilling progress report● Neutral
Update on Cooper Basin unconventional work. Moomba-194 initial 3.1 MMscfd declined to ~1.4 MMscfd before shut-in. Gaschnitz-1ST1 fell from ~1.5 to ~0.7 MMscfd. Van der Waals-1 delayed by operational issues. Boston-1/-3 stimulation planned February, Holdfast-2 needs a stuck tool recovered.
13 Jan 2014drilling spud● Neutral
Cooper Energy reports Jolly-1 spudded 11 January 2014 in PEL 495, targeting Casterton Formation shales to about 4,000m. Beach operates with 70%, Cooper 30%. This is the first Otway well after the November equity swap; Bungaloo-1 follows.
10 Jan 2014drilling progress report● Neutral
Icon, Beach's ATP 855 partner, reports Redland-1 at 2,883m with intermediate casing cemented. Drilling continues toward 3,800m. Routine progress update with no new result.
8 Jan 2014drilling progress report● Neutral
December report: Geoffrey-1 reached 4,124m with high gas levels, Redland-1 is running casing. Growler-13 found oil-saturated Birkhead. Peregian-1 and Tangalooma-1 (ATP 732 farm-in, Beach 50%) were dry. Marama West-1 was a gas discovery, completing three-for-three in the gas program.
17 Dec 2013drilling spud● Neutral
Redland-1 spudded on 15 December 2013 in ATP 855 (Beach 46.9% operator), the fifth well in the permit, targeting 3,800m. Stimulation is proposed from Q1 2014, starting with Hervey-1.
13 Dec 2013drilling result▲ Good
Geoffrey-1 in ATP 855 (Beach 46.9% operator) reached TD at 4,125m with good gas shows throughout the Permian section. It will be cased for stimulation and flow testing from Q1 2014, with Redland-1 next.
4 Dec 2013drilling progress report● Neutral
November report: Boston-3 hit TD with about 1,000m horizontal in 12 days. Holdfast-2 frac had six of nine stages placed as designed. Cobalcescu South in Romania was plugged and abandoned with minor gas shows, a dry hole. Kaiden-1 was a gas discovery.
19 Nov 2013farm in farm out agreement● NeutralMajor
Beach and Cooper Energy swapped equity in the Otway Basin. Cooper gets 30% of PEL 494 and PRL 32 and falls from 65% to 30% in PEL 495. Beach operates all three; Jolly-1 (4,070m planned) and Bungaloo-1 are due from December 2013.
6 Nov 2013drilling progress report● Neutral
October report: all four PEL 92 oil wells cased as producers. Boston-3 landed at 3,188m TVD, Geoffrey-1 at 2,612m. ASB-1X in Egypt found no significant hydrocarbons, and Bolah-1 was a Queensland gas discovery. Cobalcescu South drilling at 2,914m.
1 Nov 2013drilling result▲ Good
Callawonga-9 in PEL 92 (Beach 75% operator) found at least 4m of net oil pay and was cased as a producer at 1,703.5m. This completes the four-well campaign with four successes, following Windmill-2, Butlers-7 and Butlers-8.
29 Oct 2013drilling progress report● Neutral
Icon update: Geoffrey-1 in ATP 855 (Beach 46.9% operator) is drilling ahead at 2,338m in the Hutton Sandstone, towards a planned 4,266m. No new result.
22 Oct 2013drilling result▲ Good
Butlers-8 in PEL 92 found 6m of net oil pay in the Namur sandstone at 1,650m and will be cased as a producer. It is the third success in the four-well program.
16 Oct 2013drilling spud● Neutral
Butlers-8, the third well of the PEL 92 development campaign (Beach 75% operator), spudded on 15 October targeting about 1,650m, with Callawonga-9 to follow.
16 Oct 2013drilling spud● Neutral
Geoffrey-1 spudded in ATP 855 (Beach 46.9% operator), targeting 4,266m, the fourth well in the permit. Hydraulic stimulation is now proposed from Q1 2014 starting with Hervey-1, later than the December 2013 expected earlier.
9 Oct 2013drilling result▲ Good
Butlers-7 in PEL 92 found 5m of net oil pay in the Namur sandstone at 1,445m and was cased as a producer. Cooper calls the oil column thicker than expected; it is the second success of the four-well program.
4 Oct 2013drilling spud● Neutral
Cooper Energy says Butlers-7, the second well of the PEL 92 development campaign (Beach 75% operator), spudded on 3 October targeting about 1,440m.
3 Oct 2013drilling progress report● Neutral
Drillsearch, Beach's 60% partner in PEL 91, reports September: Neaves-1 found water-bearing sands and was abandoned, finishing the three-well Birkhead campaign with no hydrocarbons. Mostly Drillsearch's own activity.
