Past year: ▲ 79900%(0.35c – 4.00 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 Jan 2015resource reserve update▲ GoodMajor
NSAI raised ATP814P 3C contingent resource by 21% (657PJ) to 3,462PJ, with 1C up 30% and 2C up 27%. This delivers the long-awaited Bowen update. Portfolio total is now about 4,392PJ 3C, with 55PJ 2P and 200PJ 3P unchanged.
3 Jan 2014drilling progress report● Neutral
A work-over rig is mobilising to test the suspended Marburg 1 Precipice Sandstone, with testing expected from 4-5 January 2014. The cost is covered by the KIB farm-out. This follows the inconclusive October result.
10 Dec 2013drilling result● NeutralMajor
Stagmount 1 finished at 1,153m with 16 metres of coal; 10 core samples are in gas desorption testing. The well was handed to the landowner as a water bore. Results go to NSAI, which could raise the 544PJ 3C. The second well is paused until early 2014.
27 Nov 2013drilling progress report● Neutral
Stagmount 1 reached total depth of 1,153 metres and is running wireline logs before plugging and abandoning. No gas content or coal results reported yet.
20 Nov 2013drilling progress report● Neutral
Stagmount 1 in the Galilee Basin was at 930 metres, coring ahead in the Betts Creek Beds target. It will core to total depth, log, then plug and abandon. No gas results yet.
12 Nov 2013drilling progress report● Neutral
Stagmount 1 was at 867 metres, coring through the Betts Creek Beds target coals. It will core to total depth, log, then plug and abandon. No gas results reported yet.
5 Nov 2013drilling spud● NeutralMajor
Stagmount 1 spudded on 3 November 2013 in the wholly owned Galilee Basin ATP813P, the first of two wells. The pair could add up to 500PJ to the current 544PJ 3C. Planned depth is 1,185 metres.
28 Oct 2013drilling result● NeutralMajor
Marburg 1 (685m) found good oil shows but a drill stem test recovered no hydrocarbons, and logs show a possible but uncertain oil column, possibly heavy oil in a pressure-depleted sandstone. The well is suspended for extended testing. Inconclusive, not a discovery.
23 Oct 2013drilling progress report● Neutral
Marburg 1 reached total depth of 685 metres and is running wireline logs. Results are still to be assessed, so there is no outcome yet.
16 Oct 2013drilling spud● NeutralMajor
Marburg 1 spudded at 1pm on 13 October 2013 and was at 418 metres, running surface casing. Target is the Precipice Sandstone, with total depth about 720 metres. No result yet.
9 Oct 2013drilling progress report● Neutral
First weekly update: KIB's $2.5m stage one funds have been received, covering Marburg 1 drilling cost. Camp and lease are built and the rig is rigging up, with spud now expected 12 October. No drilling result yet.
1 Oct 2013farm in farm out agreement▲ GoodMajor
Blue farmed out 20% of the Marburg oil prospect to KIB Energy (Singapore) for a carry of the Marburg 1 drilling cost, within a $5.0m two-stage deal. Blue keeps 80%. This resolves the farm-out thread; spud is expected 9 October 2013.
6 Aug 2013farm in farm out agreement▲ GoodMajor
Blue signed a binding term sheet to farm into nine Wiso Basin blocks (111,887km2) in the Northern Territory from Australian Oil and Gas, earning 50% over three stages. First two years are estimated to cost $3m. Only three of nine permits are granted so far.
19 Mar 2013resource reserve update▲ GoodMajor
Contingent resources (3C) rose 25% to 3,481PJ after NSAI review. Monslatt rose to 1,711PJ, Lancewood received a maiden 439PJ, and ATP854P received 103PJ. Reserves are unchanged from the February figures of 50PJ 2P and 180PJ 3P.
26 Feb 2013resource reserve update▲ GoodMajor
Blue booked maiden 2P reserves of 50PJ and lifted Sapphire Block 3P reserves 140% to 180PJ from 75PJ, per NSAI's annual review. The pilot wells have not yet reached commercial rates, so this is a certification gain. Other ATP814P blocks are to follow.
8 June 2012drilling progress report● Neutral
Sapphire 4 is being perforated and fitted with pumps, with pumping expected within a week. Monslatt 7 and 5P are near maximum drawdown after four-week government approval delays. Monslatt 6P is shut in and Monslatt 9 awaits a rig and approvals. No new gas results.
25 Jan 2012resource reserve update▲ GoodMajor
NSAI lifted Sapphire Block 3P reserves from 39PJ to 75PJ and 3C contingent resources from 284PJ to 326PJ, on Sapphire 4 results. Total 3C is now 2,788PJ. Pilot production testing is expected in the second quarter of 2012.
14 Dec 2011resource reserve update▲ GoodMajor
NSAI raised Monslatt 3C contingent resource by 156PJ to 1,451PJ recoverable, following the Monslatt 9 well, and gas in place by 448PJ. This confirms the earlier hint that the well would lift resources. Monslatt 6P is stimulated; four Monslatt wells will be on test.
25 Nov 2011drilling result▲ Good
Sapphire 4 finished at 940m with 62m net coal and was cased and suspended. It gave Blue's first gas flow from the Fort Cooper coals. The rig is released ahead of the wet season. NSAI is reviewing Sapphire 4 and Monslatt 9 data; Monslatt 6 is being nitrogen-stimulated.
28 Oct 2011drilling progress report● Neutral
Sapphire 4 (spudded 6 Oct) was at 715m and coring, with about 50m net coal. An open-hole test flowed gas from Fort Cooper coals, but not at commercially significant rates. NSAI will review Sapphire resources, currently 39PJ 3P and 284PJ 3C.
6 Oct 2011drilling result▲ Good
Monslatt 9 is cased and suspended, confirming coals up to 4m thick with gas up to 25 m3/t in the southern Monslatt Block. Preliminary data suggest it will extend gas in place and contingent resources. Rig moved to Sapphire 4, spudded 5 Oct. Pilot wells to go from 3 to 6 by year end.
23 Sept 2011drilling result▲ Good
Monslatt 9 reached 1,006m, intersecting 16 seams with about 35m gross coal and gas contents of 8-25 m3/t, plus gas-bearing shales. Rig moves next to Sapphire 4. Monslatt 4 and 6 completions slip to October amid regulator review of stimulation.
7 Sept 2011drilling progress report▲ Good
Monslatt 9 (spudded 26 August) is at 608m, with thick coals and raw gas contents of 14-22 m3/t. Blue says confirming coals within NSAI's 600m cutoff should raise contingent resource. Monslatt 7 gas rates are still being assessed.
25 Aug 2011drilling spud● NeutralMajor
Monslatt 9, a core and pilot well in the southern Monslatt Block, was due to start drilling, planned to 840m over about 21 days using Ensign Rig 60. Monslatt 7 gas flow has begun; commercial rates are needed before NSAI assigns 2P/3P reserves.
21 July 2011resource reserve update▲ GoodMajor
NSAI booked Blue's first reserves: 39PJ of 3P (possible only) in the Sapphire Block of ATP814P. Blue calls the number very modest. It is a start on converting contingent resources, targeted at the 6-10PJ a year supply MOU.
29 June 2011resource reserve update▲ GoodMajor
NSAI assessed ATP813P in the Galilee Basin at 554PJ recoverable 3C contingent resource plus 1,142PJ recoverable prospective resource, on 3,407PJ gas in place. This covers about 25% of the permit and is the first resource booking after the 2010 drilling.
24 June 2011drilling progress report● Neutral
Monslatt 5P is pumping about 60 barrels a day of gas-cut water, and a blockage in the Monslatt 8H lateral was flushed. Clay damage studies are changing completion plans. New Monslatt and Sapphire wells and 60km of seismic are planned, hoped to start early August. Still no stabilised gas rates.
22 Mar 2011drilling progress report▼ Bad
A prolonged wet season keeps interrupting dewatering at Monslatt 4, 5P and 7; Monslatt 6 is still inaccessible. Monslatt 7 has produced water and gas but no stabilised rates. A separate Central and Sapphire pilot program is planned for the dry season.
11 Mar 2011resource reserve update▲ GoodMajor
NSAI raised ATP814P 3C contingent resource about 60% to 2,063PJ recoverable (7,018PJ gas in place), adding 768PJ recoverable from the Sapphire and Central Blocks to Monslatt's 1,295PJ. Central Fort Cooper coals add 192PJ recoverable prospective resource.
15 Feb 2011drilling progress report● Neutral
After a cyclone Yasi pause, testing resumed: Monslatt 7 and 5P are dewatering and Monslatt 4 is completed, including an untested Goonyella coal seam. Tests over coming weeks will feed NSAI's reserve verification. No flow rates yet.
