Past year: ▼ 33%(83.5c – 1.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
5 June 2006asset acquisition disposition▲ Good
Media release on Beach's A$14.5m, 19.9% Great Artesian purchase at A$0.50 a share, a 35% premium to the A$0.37 close. Internally funded; Beach calls it a strategic alliance in the Cooper Basin. Repeats the ASX announcement.
5 June 2006asset acquisition disposition▲ GoodMajor
Beach buys 29 million shares, a 19.9% stake in Great Artesian Oil and Gas, from its three founding directors at A$0.50 each (A$14.5m, off-market). Three Beach nominees including COO Hector Gordon join the Great Artesian board; Dr Shaw stays as managing director.
5 June 2006asset acquisition disposition▲ Good
Great Artesian's own release on Beach's 19.9% purchase at 50c a share. It expects farminees to largely fund its planned 8 exploration wells and 1 appraisal well, with up to A$47m of farminee spending over 18 months.
5 June 2006drilling progress report● Neutral
Cooper reports Sellicks-3, spudded 4 June, at 493 m drilling ahead, to appraise the Patchawarra west of Sellicks-1. Beach 75% operator, Cooper 25%. No results yet.
30 May 2006drilling progress report▲ Good
Beach weekly report: Sellicks-2 TD with about 7 m Patchawarra oil pay and 3-6 m Poolowanna pay; Sellicks-3 to follow from the same pad. Basker-4 suspended; 15 Tipton West wells done.
30 May 2006farm in farm out agreement● Neutral
Great Artesian signs a farm-in with Red Sky Energy, which will fund an airborne geochemical survey and 60% of up to three wells to earn 20% of a block in PEL 91. Beach holds 40% of PEL 91 and operates it.
30 May 2006drilling result▲ Good
Sellicks-2 reached 2,160 m; logs show oil zones in the Poolowanna and Patchawarra, with further zones untested. The well will be completed as a multi-zone producer and expected on production in July 2006. Beach 75%, Cooper 25%.
30 May 2006joint venture update▲ Good
Operator Arrow reports 15 Tipton West wells drilled and first sales gas scheduled for Q1 2007. The first ten wells are to be on pump within a week. A letter of intent is signed for processing facilities, and APA funding is targeted before June 2006 year-end. Beach holds 40%.
26 May 2006farm in farm out agreement▲ GoodMajor
Beach and Great Artesian amend their farm-in: Beach funds three exploration wells and 142 sq km of 3D seismic, about A$7.5-8m, to earn 50% of a 180 sq km block of PEL 106. Tennyson-1 is due July 2006. Earlier terms gave no block interest.
24 May 2006well test result▲ Good
Cooper confirms the Sellicks-2 Poolowanna test rate of 2,250-2,700 bopd with about 25% water, expected to be a new pool discovery. Same information as Beach's release.
24 May 2006drilling result▲ GoodMajor
Sellicks-2 test of the Poolowanna flowed oil at a preliminary 2,250-2,700 bopd with about 25% water. This is a new oil pool in the Sellicks field, which has so far produced only from the deeper Patchawarra. Beach 75%.
23 May 2006drilling progress report● Neutral
Cooper reports Sellicks-2 at 2,007 m with oil shows in several formations. The first test of the Poolowanna was a misrun, and a rerun is planned. Beach 75%.
23 May 2006drilling progress report● Neutral
Beach weekly report: Sellicks-2 at 2007 m, first test misrun and to be rerun; Basker-4 at 3535 m; 12 Tipton West wells completed. No new result.
22 May 2006production update▲ Good
Anzon says Basker-4 reached 3480 m with 34 m of pay, and Basker-2's extended test ended 14 May after 870,000 barrels. Full field development stays at A$304m, with 25,000 bopd forecast from the second half of 2006.
19 May 2006other● Neutral
Computershare share registry cover page for a mailing to Beach securityholders, with only address and contact details. It contained no substantive content.
16 May 2006drilling progress report● Neutral
Cooper reports Sellicks-2 at 1,386 m after setting surface casing, drilling towards the Patchawarra target. No results yet.
16 May 2006drilling progress report● Neutral
Beach weekly report: Sellicks-2 at 1386 m; Basker-4 at 3284 m; Basker-3 to be a gas injector; 11 Tipton West wells done, three rigs working. No new results.
11 May 2006drilling spud● Neutral
Beach spudded Sellicks-2 on 11 May, the first of two appraisal wells at the Sellicks field, testing for undrained oil near Sellicks-1, which has produced over 250,000 barrels. Planned depth is 2147 m. Beach 75%, Cooper 25%.
11 May 2006drilling spud● Neutral
Cooper reports Sellicks-2 spudded 11 May, 120 m south of Sellicks-1, targeting up-dip oil. Same information as Beach's release. Beach operates with 75%.
5 May 2006resource reserve update● NeutralMajor
Great Artesian reports Beach, as operator, estimates Kiana oil field recoverable reserves at 280,000 to 1.17 million barrels, 570,000 barrels at the middle estimate. Free-flow ceased in April with water; a pump is being installed. Beach holds 40%.
2 May 2006drilling progress report● Neutral
Beach weekly report: Silver Sands-1 reached 1967 m and will be cased as a future oil producer; Basker-3 logs show 75 m of pay; seven Tipton West wells done of 85. Repeats known results.
2 May 2006well test result● Neutral
Silver Sands-1 second test in the Birkhead/Hutton implied about 202 bopd and 233 bwpd. The well will be cased as a future Namur and Birkhead/Hutton producer; this is the final release. Beach 75%, Cooper 25%.
1 May 2006drilling progress report● Neutral
Cooper reports Silver Sands-1 reached total depth of 1,967 m, with no shows in the deeper Poolowanna. A second test of the Birkhead/Hutton is under way. Beach operates with 75%.
1 May 2006drilling result▲ Good
Anzon reports Basker-3 reached 4125 m with 75.3 m of hydrocarbon pay, the thickest of the four wells, and structure about 20 m high. Basker-2's extended test ends 14 May. Full field development cost is stated as A$304m (previously A$280m), targeting 25,000 bopd.
28 Apr 2006quarterly activities report▲ Good
March quarter: record production of 483 kbbl and revenue of A$48.3m, driven by Basker-2's first oil sales in the Gippsland Basin. Basker-Manta full field production is still on schedule for later in 2006. Udacha-1 and Middleton-1 gas discoveries and Tipton West drilling are also covered.
28 Apr 2006drilling progress report▲ Good
Cooper reports Silver Sands-1 at 1,637 m with strong oil fluorescence in the Birkhead/Hutton target section. Logs will confirm the extent, and a production test may follow. Beach operates with 75%.
28 Apr 2006admin correction● Neutral
Cooper amends its earlier Silver Sands-1 update to give more detail on the oil fluorescence in the basal Birkhead/top Hutton section (1,628-1,637 m). No change in depth or direction.
28 Apr 2006quarterly activities report▲ Good
Media release on the record March quarter: 483 kbbl production, A$48.3m revenue, Basker supplying just over half of output. Management says production is on track to treble to over three million barrels in 2007. Repeats the quarterly report.
27 Apr 2006well test result▲ Good
Cooper reports the Silver Sands-1 Namur open-hole test flowed about 860 bopd and 340 bwpd. Drilling continues to the main Birkhead and Hutton targets. Beach operates with 75%.
27 Apr 2006well test result▲ GoodMajor
Beach reports Silver Sands-1 DST-1 in the upper Namur flowed 859 bopd with 340 bwpd through a quarter-inch choke. Drilling continues to deeper targets. Beach operates with 75%, Cooper 25%.
