20 June 2006drilling progress report● Neutral
Paprika-1 daily report: 2651 m in the Patchawarra Formation, the main target, drilling ahead. No new result.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
19 June 2006drilling progress report● Neutral
Paprika-1 daily report: 2504 m, changing bit, drilling ahead to target depth. No new result.
14 June 2006drilling progress report● Neutral
Paprika-1 daily report: surface casing run to 1001 m, blowout preventers being tested before drilling ahead. No new result.
13 June 2006drilling progress report● Neutral
Paprika-1 began drilling on 11 June 2006 and is running surface casing at 1005 m. Funded by EIV's Kompliment and Enterprise Energy's subsidiary. No result yet.
13 June 2006drilling spud▲ Good
EIV confirms Paprika-1 spudded 11 June and is at 1005 m; EIV earns 37.5% on a commercial discovery. Funding it also satisfies a pre-condition for earning 50% of the Spinel Block. Rossco-1 production testing has begun.
9 June 2006drilling scheduled● Neutral
Paprika-1 will spud this weekend, targeting 9-70 BCF (P50 30 BCF); EIV fully funds it for 37.5% on a commercial discovery. Cased-hole testing of Rossco-1 also starts, with up to three zones over about two weeks.
6 June 2006drilling progress report● Neutral
Cadenza-1 final report: cased and suspended, rig released after 18.5 days, and moving to Paprika-1. Cased-hole testing to follow in about three months. No new result.
5 June 2006drilling progress report● Neutral
Cadenza-1 is being cased and suspended as a potential gas producer. The second test was aborted by a packer failure, so further cased-hole testing is deferred about three months. The 1.5 MMcf/d first-test flow stands.
2 June 2006drilling result▲ GoodMajor
EIV confirms the Cadenza-1 gas discovery (about 1.5 MMcf/d), its fourth discovery after Nutmeg, Paranta-1 and Rossco-1. Everdue earns 50% of any production licence; Paprika-1 is expected to spud within 10 days.
2 June 2006flow test result▲ GoodMajor
Great Artesian reports Cadenza-1 a new field gas discovery: gas flowed to surface at about 1.5 million cubic feet a day from 2691-2694 m in the first test. It resolves the pending log evaluation; the well, funded by EIV's Everdue, will be cased and suspended.
1 June 2006farm in farm out agreement▲ Good
EIV announces its expanded PEL 106 position: a 37.5% interest in Paprika-1 and the right to earn 50% of the 360 sq km Spinel Block. Repeats the 1 June farm-in with Great Artesian and adds Rossco-1 testing and Cadenza-1 logging updates.
1 June 2006farm in farm out agreement▲ GoodMajor
EIV subsidiary Kompliment signed two farm-ins with Great Artesian in PEL 106: Paprika-1 well (37.5% interest, 30 BCF best estimate) and the Spinel Block 3D seismic and wells (up to 50%). Committed spend is $7.1–7.4m, up to $13–14m if all options exercised.
1 June 2006drilling progress report▲ Good
Cadenza-1 is at 2993 m total depth. Preliminary log analysis confirms a number of gas-bearing zones, and drill-stem tests are planned for 2 June. Early positive sign, no flow result yet.
31 May 2006drilling progress report● Neutral
Cadenza-1 reached total depth of 2993 m in the Merrimelia Formation on 30 May. Wireline logs are being run to evaluate the hydrocarbon shows; result pending.
30 May 2006drilling progress report▲ Good
Cadenza-1 at 2963 m: further hydrocarbon shows in the lower Patchawarra and Tirrawarra. Drilling deeper to total depth before logging; shows are not yet confirmed.
29 May 2006drilling progress report▲ Good
Cadenza-1 at 2905 m: a number of possible hydrocarbon-bearing zones have been penetrated in the Patchawarra, to be evaluated after wireline logging. Early encouraging sign, not yet a result.
29 May 2006drilling progress report● Neutral
Cadenza-1 daily report: 2694 m, drilling in the Patchawarra Formation, the main target; no new result.
26 May 2006drilling progress report● Neutral
Cadenza-1 daily report: 2492 m, drilling ahead in the Toolachee Formation; no new result.
25 May 2006drilling progress report● Neutral
Cadenza-1 daily report: 2330 m, drilling in the Poolowanna Formation; no new result.
24 May 2006drilling progress report● Neutral
Cadenza-1 daily report: drilling ahead at 1945 m in the Adori Sandstone, no new result.
23 May 2006drilling progress report● Neutral
Cadenza-1 daily report: drilling ahead at 1272 m with no new result.
19 May 2006drilling spud● NeutralMajor
Cadenza-1 began drilling on 18 May 2006 and was at 206 m. Fully funded by EIV's Everdue; target 12–28 BCF, planned depth about 3100 m.
4 May 2006drilling scheduled● Neutral
Cadenza-1 rig moves in from 8 May with drilling expected from 12 May. The announcement notes Middleton-1 flowed over 11 million cubic feet a day, and Rossco-1, Udacha-1 and Middleton-1 were all cased and suspended as potential discoveries.
6 Apr 2006farm in farm out agreement▲ GoodMajor
EIV subsidiary Everdue will fully fund the Cadenza-1 well in PEL 106, due to spud this month, targeting 12 (P50) to 28 (P10) BCF of gas. On a commercial discovery, Everdue and Great Artesian would each hold 50%.
16 Mar 2006half year report● NeutralMajor
Energy Investments' half-year to 31 December 2005 shows a loss of $167,606 on revenue of $326,821. Shareholders approved acquiring Blue Energy Pty Ltd on 17 February 2006 (acceptances for 100%). EIV raised $2.564m in September 2005 and lent Blue Energy $2.2m to fund its farm-ins with Great Artesian.
20 Feb 2006investor presentation● Neutral
Energy Investments (EIV) presentation from its 17 February 2006 EGM sets out its strategy: a diversified portfolio including Rossco (37.5%) and Paranta (50%), plus 100% of Queensland coal seam gas licences. Largely restates known positions.
5 Jan 2006drilling result▲ Good
Final report: Rossco-1 has been cased and cemented, and the rig is released to move to Udacha-1. Logs indicate likely gas/oil zones, with cased-hole testing to follow once a work-over rig is contracted. Repeats the 3 January result.
3 Jan 2006drilling result▲ GoodMajor
Rossco-1 in South Australia's Cooper Basin (PEL 106) reached 3050 m and is being cased and suspended as a potential gas/oil discovery after logs showed likely hydrocarbon zones. Cased-hole testing is planned later in the year; farminees funded the well.