24 May 2006drilling progress report● Neutral
Cadenza-1 daily report: drilling ahead at 1945 m in the Adori Sandstone, no new result.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.