Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Mar 2012resource reserve update▲ Good
Reserve summary for 31 Dec 2011 shows 1P up 2,209% from 674 Mboe in 2010, 2P up 1,795% and 3P up 2,068%, using $95.25/bbl oil. Gives per-share cash-flow values on 260m shares. Headline volumes are in the annual report and evaluation.
30 Mar 2012resource reserve update● Neutral
Full independent-style reserve and resource evaluation as of 31 Dec 2011, explaining SPE-PRMS definitions. The excerpt shown contains definitions only; the figures appear in the companion summary and annual report (1P 15,566 Mboe, 2P 27,195 Mboe).
29 Mar 2012drilling progress report● Neutral
Archer 16 No. 1 (Northern Star) reached TD of 11,362 ft, with frac due 18 April. Ray No. 5 reached 10,311 ft, frac 25 April. Live Oak No. 2 frac is underway and Yucca No. 1 frac is set for 11 April. No production rates yet.
21 Mar 2012drilling result▲ Good
Yucca No. 1 reached TD of 10,342 ft, with hydrocarbons logged in several zones, and will be fracked mid-April. Cottonwood A No. 1 and Aloe Vera No. 2 are flowing back with no rates yet. Archer 16 No. 1 may stop at about 11,200 ft.
14 Mar 2012drilling progress report● Neutral
Three rigs are now running together, a company first. Yucca No. 1 is at 8,394 ft, Ray No. 5 at 3,017 ft and Archer 16 No. 1 at 4,803 ft with intermediate casing being set. No new results.
12 Mar 2012drilling progress report● Neutral
Cottonwood A No. 1 frac is done and Aloe Vera No. 2 is being fracked. Yucca No. 1 is at 7,147 ft, Ray No. 5 is about to spud, and Archer 16 No. 1 will make three rigs running at once, a company first.
29 Feb 2012drilling progress report● Neutral
Yucca No. 1 has started drilling at Southern Star. Halliburton will frac Cottonwood A No. 1 and Aloe Vera No. 2 the week of 5 March. Archer 16 No. 1 is still expected to start in March.
23 Feb 2012drilling result▲ Good
Live Oak No. 2 reached TD of 10,308 ft with good shows in all main Wolfberry zones, and will be fracked in late March. Archer 16 No. 1 (Northern Star, 100%) is due to spud in March, to 12,400 ft.
15 Feb 2012drilling progress report● Neutral
Live Oak No. 2 has set intermediate casing and is drilling at about 5,400 ft. The Cottonwood A No. 1 frac is pushed to the second week of March, with Aloe Vera No. 2 to follow.
10 Feb 2012drilling result● Neutral
Cottonwood A No. 1 reached TD of 10,320 ft, the second of 24 planned 2012 Southern Star wells. Live Oak No. 2, the third, has started drilling. Fracs remain planned for early March.
2 Feb 2012drilling progress report▲ Good
Aloe Vera No. 2 reached TD of 10,282 ft in under 12 days, the first of 24 planned 2012 Southern Star wells. Windmill No. 1 is producing over 125 boepd with gas rising. Fracs for the new wells are planned for early March.
18 Jan 2012drilling progress report● Neutral
Coyote No. 1 frac is complete and the well goes straight to production. Cottonwood A No. 1 drilling was delayed by snow and mud. A second rig arrives in about a week for Aloe Vera No. 2, an offset to a well with over 200 MBoe expected recovery.
11 Jan 2012drilling progress report▲ Good
Woodward 7 No. 1 (Big Star) completed a nine-stage frac and is being put on production; pays were indicated in several zones including Dean clastics. Coyote No. 1 gets its upper frac this week, and Cottonwood No. 2 is about to spud.
23 Dec 2011drilling progress report● Neutral
The five-stage upper frac on Simmons 27 No. 2 (Big Star, 90% before payout) is complete and will be commingled with the deeper Mississippian zones. No rates given; no more operations this year.
8 Dec 2011drilling progress report● Neutral
Live Oak No. 1 is flowing back after plug drill-out. Simmons 27 No. 2 passed a long-term test of its deep zones and is getting a further five-stage upper frac. No rates given.
1 Dec 2011drilling result▲ Good
Woodward 7 No. 1 (Big Star) reached TD of 10,975 ft, with logs and cores indicating pay in several zones. Frac is planned for early January 2012. Live Oak No. 1 plugs are being drilled out.
23 Nov 2011drilling progress report● Neutral
Live Oak No. 1 completed its 11-stage frac and plugs are being drilled out. Woodward 7 No. 1 is past 10,800 ft, close to its 11,000 ft target. No production results yet.
16 Nov 2011drilling progress report● Neutral
Coyote No. 1 acid stimulation succeeded and the well is flowing back. Live Oak No. 1 starts its 11-stage frac on 16 November. Woodward 7 No. 1 is past 6,000 ft of its planned 11,000 ft.
9 Nov 2011drilling spud● Neutral
Woodward 7 No. 1 (Big Star, 90% before payout) started drilling, with surface casing cemented and a planned depth of 11,000 ft. Coyote No. 1 is being acid stimulated in the Strawn. The Live Oak No. 1 frac is brought forward from January to the week of 14 November.
3 Nov 2011drilling progress report● Neutral
Coyote No. 1 had a limited two-stage frac on the Mississippian and Atoka zones. Good porosity in the Strawn zone will get a separate acid treatment next week. No production result yet.
27 Oct 2011drilling progress report● Neutral
Live Oak No. 1 finished drilling at 10,300 ft with hydrocarbon intervals confirmed on logs. Cozart A No. 1R is recovering load water on a 1/8 inch choke. Woodward 7 No. 1 is due to start mid-November. No new production results.
18 Oct 2011drilling progress report● Neutral
Live Oak No. 1 is near its 10,300 ft TD, with frac planned for January. Cozart A No. 1R was fracked and is being cleaned out. Newbrough No. 1 shows encouraging shallow oil, so testing is extended. Woodward 7 No. 1 (Big Star) is due to start in several weeks.
7 Oct 2011drilling spud▲ Good
Windmill No. 1 was fracked in a 12-stage program, the largest yet at Southern Star. Live Oak No. 1 (49% WI) spudded, the eighth well since Antares took control in June 2011. Cozart A No. 1R frac is due next week.
28 Sept 2011drilling progress report● Neutral
Coyote No. 1 is below 10,120 ft near TD, and Smith No. 2 has been fracked. Windmill No. 1 frac is due next week. Newbrough No. 1 has a bridge plug isolating the shallow water zone, and the Cozart frac is now mid-October.
22 Sept 2011drilling progress report● Neutral
Coyote No. 1 is drilling below 7,614 ft with good shows. Smith No. 2 is being fracked and Smith No. 1 and Cottonwood No. 1 await higher-pressure separators. Southern Star gross output is 872 boepd, with the company still targeting over 1,000 boepd.
13 Sept 2011drilling progress report▲ Good
Windmill No. 1 reached TD at 10,332 ft with good pay quality, and Coyote No. 1 has spudded. Simmons 27 No. 2 is at 79 bopd with most load water still to recover. Cline 46 No. 1 was fracked.
6 Sept 2011drilling progress report▲ Good
Windmill No. 1 is nearing TD with good oil shows. Simmons 27 No. 2 was fracked in deep zones and is producing 30-50 bopd with most load water still to recover. Early encouraging sign for Big Star.
24 Aug 2011drilling spud● Neutral
Drilling began on Windmill No. 1 at Southern Star (97% WI), targeting about 10,300 ft, with Coyote No. 1 to follow. One more infill well in the Southern Star programme.
18 Aug 2011drilling progress report● Neutral
Lonestar No. 1 is up to over 110 boepd, still short of a peak rate. Cottonwood No. 1 and Smith No. 1 are cleaning up, Smith No. 2 reached 10,342 ft, Ray No. 3 is being fracked, and Windmill No. 1 starts within the week.
10 Aug 2011drilling progress report● Neutral
Newbrough No. 1 still has water problems and needs remedial work; Cozart frac is pushed to late September. Stuart 12 No. 1 is making over 50 bopd. Ray No. 3 reached TD, and Windmill No. 1 and Coyote No. 1 are planned for September.
