22 Feb 2006drilling progress report● Neutral
Beach reports Middleton-1 at 2190 m, drilling ahead in the Poolowanna Formation. Routine progress.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 Feb 2006drilling progress report● Neutral
Beach reports Middleton-1 at 1931 m, drilling ahead in the Adori Sandstone. Routine progress.
21 Feb 2006flow test result▲ Good
Magellan repeats Beach's Kiana-1 result: the second Patchawarra sand lifts combined flow to about 750 bopd, with 1,000 bopd expected in coming weeks. Magellan holds 30% of the joint venture. Nothing new.
21 Feb 2006flow test result▲ GoodMajor
Beach perforated a second Patchawarra oil sand in Kiana-1, lifting the flow from about 400 to about 750 barrels of oil per day combined. Beach expects 1,000 bopd within weeks; artificial lift is planned. Beach holds 40%.
21 Feb 2006joint venture update● Neutral
Bow Energy confirms it will share Beach's Hunt Rig 2, with Beach paying 75% of mobilisation costs to Queensland. Bow plans to start with Banff-1 in May and has up to seven drilling slots. Mostly Bow's own plans; little new for Beach.
21 Feb 2006flow test result▲ Good
Great Artesian repeats Beach's news that Kiana-1's second Patchawarra sand lifts output to about 750 bopd, with over 1,000 bopd expected in coming weeks. No water produced so far. Beach is operator with 40%.
20 Feb 2006drilling progress report● Neutral
Great Artesian repeats Beach's 20 February Middleton-1 report: 1543 m, drilling ahead in the Oodnadatta Formation, targeting 2895 m. Prospect could hold up to 3 million barrels of oil or 15 BCF of gas (P10). Routine progress.
20 Feb 2006drilling progress report● Neutral
Beach reports Middleton-1 at 1543 m, drilling ahead in the Oodnadatta Formation. Routine progress.
20 Feb 2006drilling progress report● Neutral
Anzon reports Manta-2A was perforated over 34 m of oil zones and fitted with 4.5-inch tubing. It will be flowed briefly, then closed in until Q3 2006, when it is tied back to the FPSO. Beach holds 50%.
20 Feb 2006contract award▲ GoodMajor
Beach contracted Hunt Energy Rig #2 for up to 12 Queensland wells from April: up to 9 appraisal wells in the 100%-owned Kenmore and Bodalla South fields and up to 3 exploration wells in ATP 269P. Bow Energy may use the rig for up to 7 wells.
17 Feb 2006drilling progress report● Neutral
Great Artesian reports Middleton-1 at 749 m, washing and reaming before pulling out to run 9 5/8-inch surface casing. Routine progress.
17 Feb 2006drilling progress report● Neutral
Beach reports Middleton-1 at 749 m preparing to run 9 5/8-inch surface casing. Routine progress.
16 Feb 2006drilling spud● NeutralMajor
Beach spudded Middleton-1 on 15 February, now at 360 m, planned to 2895 m in about 20 days. It is 6 km southeast of the Udacha-1 gas discovery; Beach funds it and holds 50%, Great Artesian 50%.
16 Feb 2006drilling progress report● Neutral
Great Artesian reports Middleton-1 spudded at 1530 hrs on 15 February and is at 360 m drilling ahead. The prospect could hold up to 3 million barrels of oil or 15 BCF of gas (P10).
13 Feb 2006drilling result▲ GoodMajor
Manta-2A, the replacement for the failed Manta-2, reached 3113 m and found 32.6 m of oil sand and 27.4 m of gas sand. That is about 25% more oil sand than Manta-1; the 7-inch liner is set and completion is next. Beach holds 50%.
13 Feb 2006joint venture update▲ Good
Great Artesian highlights Udacha-1 and Rossco-1 as successes and says PPL 212 was granted over the Kiana oil field in January (Beach 40%, operator). Kiana-1 is flowing about 400 bopd, with 12,000 barrels produced in January. This resolves the pending Kiana licence application.
10 Feb 2006drilling progress report● Neutral
Great Artesian's final Udacha-1 report: casing is being run, then the well suspended and the rig released. It repeats about 3 m net gas pay, with 3-10 m more likely in deeper sands.
10 Feb 2006drilling progress report● Neutral
Beach's last Udacha-1 report: 7-inch casing is being run at 2728 m. Middleton-1, about 6 km southeast in PEL 106, is expected to spud around 16 February; Beach holds 50% and Great Artesian 50%.
9 Feb 2006drilling progress report● Neutral
Great Artesian reports Udacha-1 will be cased and suspended for cased-hole testing with a workover rig later. The rig moves to Middleton-1 next.
9 Feb 2006drilling progress report● Neutral
Magellan's weekly report repeats Beach's Udacha-1 evaluation: about 3 m net gas pay in the DST-1A sand and 3-10 m likely more deeper. The well is being cased and suspended, with cased-hole testing in 2-3 months.
9 Feb 2006drilling result▲ GoodMajor
Beach says Udacha-1 shows gas saturation in several sands; the DST-1A sand has about 3 m of net gas pay, with 3-10 m more likely in deeper sands. The well will be cased and suspended, with cased-hole testing expected in 2-3 months, equipment permitting.
9 Feb 2006drilling progress report● Neutral
Enterprise Energy reports Udacha-1 is preparing to run casing and will be suspended for future production testing. It will issue no more daily reports on the well.
8 Feb 2006drilling progress report● Neutral
Great Artesian repeats the Udacha-1 DST-1A gas flow of 0.44 million cubic feet a day, with a wiper trip before running 7-inch casing. Further cased-hole testing is being considered.
8 Feb 2006well test result▲ GoodMajor
DST-1A at Udacha-1 flowed gas to surface in 20 minutes, finishing at 0.44 million cubic feet a day with 300 psi pressure and no oil or water. The first flowing test after earlier aborted attempts; casing and cased-hole testing are being considered.
8 Feb 2006well test result● Neutral
Magellan repeats the Udacha-1 DST-1A result of 0.44 million cubic feet a day of gas. The well is being cased, and cased-hole testing is being considered.
8 Feb 2006well test result▲ Good
Enterprise Energy repeats the Udacha-1 DST-1A result: gas to surface at 0.44 million cubic feet a day, no oil or water. Results will be evaluated with the aim of cased-hole tests.
8 Feb 2006well test result▲ Good
Rawson Resources repeats the Udacha-1 DST-1A result of 0.44 million cubic feet a day of gas, and says the well will be cased on the strength of logs and the test. Rawson holds 10%, subject to commercial discovery.
7 Feb 2006drilling progress report● Neutral
Beach reports Udacha-1 at 2728 m conducting a re-run test, DST 1A, over 2482.5-2488 m in the Patchawarra Formation. Results to follow.
7 Feb 2006drilling progress report● Neutral
Great Artesian reports Udacha-1 at 2728 m, running in the hole for DST-1A over 2482.5-2488 m after the first test failed from tool malfunction. Routine progress.
7 Feb 2006drilling progress report● Neutral
Enterprise Energy reports the failed Udacha-1 test is being re-run as DST-1A over 2482.5-2488 m, a sand that gave elevated gas readings while drilling. Routine progress.