2 June 2006drilling progress report● Neutral
Empire's Dune-1 report: drilling at 936 metres in the Lower Gearle Siltstone, trace methane only. Reservoir targets still lie ahead near 1,300 metres. Bounty holds 5%.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 June 2006drilling progress report● Neutral
Dune-1 reached 812 metres. Tops were revised: Korojon Calcarenite at 710 metres and Upper Gearle siltstone at 780 metres, a thicker tertiary section, but reservoir objectives remain as predicted. Trace gas only.
1 June 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 report: 812 metres after a bit change, drilling ahead slowly through compact Gearle section, trace methane only. No new information.
31 May 2006drilling progress report● Neutral
Dune-1 changed to a new bit and completed a blowout preventer test, then drilled to 783 metres through claystone. Trace background methane only.
31 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 report: 783 metres after a bit change and blowout preventer test, trace methane only. No new information; letterhead now shows a Sydney office.
30 May 2006drilling progress report● Neutral
Dune-1 drilled to 780 metres and is pulling out to change the drill bit. Only trace background methane recorded.
30 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 report: 780 metres, pulling out to change the bit, trace methane only. No new information.
29 May 2006drilling progress report● Neutral
Dune-1 reached 722 metres after a delay fishing slip dye from the hole; the problem appears resolved. Only trace methane. Penetration rates are similar to nearby wells.
29 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 report: 722 metres, drilling delayed by a fishing job, trace methane only. Participant table now correctly shows Asia Pacific Energy at 20% and Bounty at 5%.
26 May 2006drilling progress report● Neutral
Dune-1 milled out the slip dye and resumed drilling, at 629 metres. Only minor trip gas of 4 units recorded.
25 May 2006drilling progress report▼ Bad
Dune-1 drilled only 612–620 metres of marl; a technical problem with slip pieces in the borehole needed resolving before drilling could continue.
24 May 2006drilling progress report● Neutral
Dune-1 resumed drilling, at 620 metres. Circulating out fluids left standing during the repair gave 19 units of methane trip gas, which is not a reservoir show.
23 May 2006drilling progress report● Neutral
Dune-1 blowout preventer test completed and a deviation survey at 200 metres showed a straight hole. Still at 612 metres, preparing to resume drilling after the rig repair.
22 May 2006drilling progress report▼ Bad
Dune-1 remained at 612 metres through 21 May waiting on rig repair; new rig motor being fitted and a blowout preventer test is next. Delay continues, no new geology.
19 May 2006drilling progress report▼ Bad
Dune-1 stayed at 612 metres while the rig motor was changed out. No section drilled; no new geological information.
18 May 2006drilling progress report● Neutral
Dune-1 drilled to 612 metres, with trace gas only in carbonates. Top Korojon Calcarenite at 540 metres as predicted. Drilling paused for a rig repair.
18 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 report: 612 metres, rig under repair, trace gas only. Its table still shows the older 70% operator interest. No new information.
17 May 2006drilling progress report● Neutral
Dune-1 reached 440 metres (527 by morning). A minor methane gas peak of 43 units at 350 metres was recorded in non-target carbonates; Top Cardabia came in slightly high to prediction.
16 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 report: drilling ahead at 336 metres, no hydrocarbons expected at this depth. Its table still shows the older 70% operator interest. No new information.
16 May 2006drilling progress report● Neutral
Dune-1 drilled from 212 to 267 metres through limestone, reaching 336 metres by morning. No reservoir objective at this depth; section is non-target carbonates.
15 May 2006drilling progress report● Neutral
Dune-1 blowout preventer and pressure lines tested OK; 24-hour drilling began 15 May. Rig is drilling out the casing shoe before drilling ahead toward the reservoir. Mudlogging gear is rigged up to detect hydrocarbons.
12 May 2006drilling progress report● Neutral
Empire's Dune-1 report: still at 212 metres, installing and pressure testing the blowout preventer, no drilling. Confirms participants Rough Range 50%, AOC 25%, Asia Pacific Energy 20%, Bounty 5%. No new information.
11 May 2006drilling progress report● Neutral
Dune-1 is still at 212 metres on day 11, continuing to install the blowout preventer. No drilling and no hydrocarbon indications; Bounty holds 5%.
10 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 report: still at 212 metres, installing and pressure testing the blowout preventer. No hydrocarbon indications. No new information.
10 May 2006drilling progress report● Neutral
Dune-1 remains at 212 metres, still installing the blowout preventer for pressure testing to 7,000 kpa. No drilling and no hydrocarbon indications; Bounty holds 5%.
9 May 2006drilling progress report● Neutral
Dune-1 is still at 212 metres, installing the wellhead section and blowout preventer to be tested at 7,000 kpa. Participants now include Asia Pacific Energy at 20%; Bounty remains at 5%. No shows.
9 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 report: still at 212 metres, installing the wellhead section and blowout preventer. No hydrocarbon indications. Its table still shows the older 70% operator interest.
9 May 2006farm in farm out agreement● Neutral
Empire farmed out 20% of EP 435 to Asia Pacific Energy for 40% of Dune-1's cost, leaving Rough Range at 50%. Bounty's 5% and AOC's 25% are unchanged; the other partners' interests are diluted, not Bounty's.
8 May 2006drilling progress report● Neutral
Dune-1 casing was run and cemented at 212 metres, and the blowout preventer is being installed before drilling resumes toward the reservoir. No drilling this period and no hydrocarbon shows.
8 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 report: casing run and cemented at 212 metres, with pressure testing next. No hydrocarbon indications. No new information.