6 Feb 2006well test result● Neutral
Udacha-1 reached total depth of 2728 m; logs showed a possible hydrocarbon zone, but a DST over 2482.5-2488 m was aborted when the tool malfunctioned. A re-run is under consideration. No test result yet.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Feb 2006drilling progress report● Neutral
Great Artesian's report: Udacha-1 at 2644 m drilling ahead in the Tirrawarra Sandstone. Both DST attempts over 2605-2628 m failed because of fill in the hole; the zone will be judged from wireline logs after drilling to total depth.
3 Feb 2006drilling progress report● Neutral
Beach reports Udacha-1 at 2644 m, drilling ahead in the Tirrawarra Sandstone. DST-1 over 2605-2628 m was aborted for poor hole conditions, so that zone will be evaluated after logging.
3 Feb 2006well test result▼ Bad
The second attempt at DST-1 on Udacha-1 was also aborted due to hole condition. The well is drilling on at 2644 m, and the gas-showing sands will be judged from wireline logs, with testing decided afterwards.
2 Feb 2006drilling progress report▼ Bad
Magellan's weekly report: Udacha-1 at 2628 m; DST was aborted after two attempts due to poor hole conditions. The plan is to drill to the programmed 2775 m and run wireline logs.
2 Feb 2006drilling progress report● Neutral
Enterprise Energy reports Udacha-1 at 2628 m, running in to retry DST-1 on two sands with elevated gas readings, after a wiper trip fixed hole conditions. Routine progress.
2 Feb 2006drilling progress report● Neutral
Great Artesian reports Udacha-1 at 2628 m, running back in to retry DST-1 after the first attempt was aborted for tight hole and a wiper trip. Routine progress.
2 Feb 2006drilling progress report● Neutral
Beach reports Udacha-1 at 2628 m, running in the hole for a second try at DST-1 over 2605-2628 m. Routine progress.
1 Feb 2006well test result▼ Bad
DST-1 at Udacha-1 was attempted but aborted because fill at the bottom of the hole stopped the tools reaching the interval. No test result yet; a wiper trip is under way to clean the hole.
1 Feb 2006drilling progress report▼ Bad
Beach reports Udacha-1 at 2628 m on a wiper trip after DST-1 was aborted due to poor hole conditions. Routine progress.
31 Jan 2006drilling progress report● Neutral
Great Artesian reports Udacha-1 at 2628 m, pulling out of the hole after a wiper trip before DST-1. Routine progress.
31 Jan 2006drilling progress report● Neutral
Enterprise Energy reports Udacha-1 at 2628 m, pulling out to run DST-1 later that day over sands with elevated gas readings. Routine progress.
31 Jan 2006drilling progress report● Neutral
Beach reports Udacha-1 at 2628 m, pulling out to run DST-1 over 2605-2628 m. Results will be released when available. Routine progress.
30 Jan 2006drilling progress report● Neutral
Enterprise Energy reports Udacha-1 at 2628 m, conditioning the hole before a drill stem test over 2605-2628 m, expected 31 January. Routine progress.
30 Jan 2006drilling progress report● Neutral
Manta-2A, the replacement for the failed Manta-2 well, started 23 January and is at 1665 m with surface casing set at 985 m. Drilling continues toward about 2700 m (Beach 50%).
30 Jan 2006quarterly activities report▲ Good
December quarter: record production of 342 kbbl, sales revenue A$20.8m, and Basker-2 oil started. Equity in Basker-Manta rose to 50% from 37.5%, and Beach committed to Tipton West (A$35m for 40%). Cowrie-1 was dry. 2P reserves 28.2 mmboe.
30 Jan 2006drilling progress report▲ Good
Great Artesian reports Udacha-1 at 2628 m, with two Patchawarra sandstones showing elevated gas readings and fluorescence, prompting DST-1 over 2605-2628 m. Early signs only, not a result.
30 Jan 2006other▲ Good
Media release on the December quarterly: record 342 kbbl quarterly production and half-year production of 591 kbbl, with half-year oil sales revenue of A$45.7m versus A$29.0m a year earlier. Half-year results are expected by mid-March. Repeats the quarterly report.
30 Jan 2006drilling progress report● Neutral
Beach reports Udacha-1 at 2628 m, conditioning the hole before DST-1 over 2605-2628 m in the Patchawarra, expected the next morning. Routine progress.
27 Jan 2006drilling progress report● Neutral
Beach reports Udacha-1 at 2370 m, drilling ahead in the Patchawarra Formation. Routine progress.
27 Jan 2006drilling progress report● Neutral
Great Artesian reports Udacha-1 at 2370 m, now in the Patchawarra Formation after a bit change. Routine progress.
27 Jan 2006drilling progress report● Neutral
Magellan's weekly report: Udacha-1 at 2370 m in the Patchawarra, with 942 m drilled in the week. Routine progress.
27 Jan 2006drilling progress report● Neutral
Rawson's weekly report: Udacha-1 at 2370 m in the Patchawarra Formation. Rawson pays 20% of costs to earn 10% of any production licence. Routine progress.
27 Jan 2006drilling progress report▼ Bad
Enterprise Energy reports Udacha-1 at 2370 m in the Patchawarra, with only 57 m drilled in 48 hours due to difficult drilling conditions. Routine progress.
25 Jan 2006drilling progress report● Neutral
Enterprise Energy reports Udacha-1 at 2313 m after 116 m of progress, drilling ahead toward the Patchawarra. Routine progress.
25 Jan 2006drilling progress report● Neutral
Beach reports Udacha-1 at 2313 m, drilling ahead in the Epsilon Formation, just above the Patchawarra target. Routine progress.
25 Jan 2006drilling progress report● Neutral
Great Artesian reports Udacha-1 at 2313 m in the Epsilon Formation. Routine progress.
24 Jan 2006drilling progress report● Neutral
Beach reports Udacha-1 at 2197 m, running back in the hole after a bit change. Routine progress.
24 Jan 2006drilling progress report● Neutral
Great Artesian reports Udacha-1 at 2197 m after a bit change, in the Nappamerri Formation. Routine progress.
23 Jan 2006drilling progress report▼ Bad
Manta-2 casing parted at about 163 m after reaching 971 m, so the well was plugged and a new path started, adding about 5 days. This delays the 35-day Manta-2 program that began 17 January (Beach 50%). Basker production resumed at about 8,000 bpd.