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.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.
5 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 daily report: 212 metres, circulating and preparing to run 9 5/8-inch casing. No hydrocarbon indications. No new information.
5 May 2006drilling progress report● Neutral
Dune-1 reached the 212-metre casing point and is preparing to run casing. Separately, approvals were received to build Dune-2 and Dune-3 sites, allowing quick follow-up drilling if Dune-1 finds oil.
4 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 daily report: 182 metres, drilling ahead at 186 metres, no hydrocarbons expected at this depth. No new information.
4 May 2006drilling progress report● Neutral
Dune-1 reached 182 metres in limestone, drilling ahead at 186 metres. No hydrocarbon indications, none anticipated in the surface hole. Routine update.
3 May 2006drilling progress report● Neutral
Dune-1 reached 144 metres in Cape Range Group limestones, drilling ahead at 150 metres. No hydrocarbon shows, none anticipated in the surface hole. Routine update.
3 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 daily report: 150 metres, drilling ahead, no hydrocarbons expected at this depth. No new information.
2 May 2006drilling progress report● Neutral
Bounty's repeat of the Dune-1 daily report: 91 metres, drilling ahead, no hydrocarbon indications. No new information.
2 May 2006drilling progress report● Neutral
Dune-1 drilled to 91 metres in surface hole through sandstone and calcilutite. No hydrocarbon shows, none expected at this depth. Routine daily update.
1 May 2006drilling spud● Neutral
Bounty re-releases the Dune-1 spud report: the well started at 1300 hours on 30 April and was at 28 metres with no hydrocarbon shows. Bounty holds 5%. Duplicate of the operator's report.
1 May 2006drilling spud▲ GoodMajor
Dune-1 in EP 435 was spudded at 1300 hours on 30 April and was at 28 metres, with no hydrocarbon indications. Bounty holds 5% alongside Rough Range 70% and AOC 25%. Targets are the Birdrong Sandstone below 1,300 metres.
28 Apr 2006drilling scheduled● Neutral
Empire says Dune-1 in EP 435 (Bounty earning 5%) will begin drilling on 29 April 2006, with daily ASX updates starting 1 May. Success could open further prospects along the Bullara Trend.