Past year: ▲ 0%(38.0c – 60.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Apr 2024drilling result▲ Good
Maroons finished drilling at about 12,665 feet, on budget and schedule. The company says the Sycamore lateral crossed numerous fractures with continuous gas shows. These are drilling indications, not production results. The rig now moves to Fleury.
17 Apr 2024resource reserve update▲ GoodMajor
Brookside outlines a 16-well full field development of SWISH from early 2025, after the current drilling program. Forecasts (at US$70 oil) are ~4,500 BOE/d and US$51m net income in 2028. Updated 2P reserves are 11.6 MMBOE, down from 11.9. Net capex is estimated at US$126m, funded from cashflow and a credit facility of up to US$15m.
10 Apr 2024drilling progress report● Neutral
Maroons' intermediate section is cased, the curve landed, and the lateral is drilling at about 8,500 feet. The company says operations are safe, on budget and on time. No results yet.
3 Apr 2024drilling progress report● Neutral
Casing and cementing of the Iginla lateral was completed and the rig was walked to the Maroons Well. Maroons, the second of four Flames-Maroons wells and a Sycamore target, was drilling the intermediate section at about 6,800 feet. No results were reported.
28 Mar 2024drilling result▲ GoodMajor
Iginla, the first Flames-Maroons well, finished drilling at about 18,685 feet, on budget and schedule. The company says the lateral crossed numerous fracture swarms with gas shows in oil-prone Woodford shale. These are drilling indications, not production results; casing is being cemented.
20 Mar 2024drilling progress report● Neutral
Iginla's lateral is drilling ahead at about 16,500 feet, on budget and on time. The rig will then move back to Maroons. No results yet.
14 Mar 2024drilling progress report● Neutral
Iginla's curve is landed and the rig is drilling the lateral at about 11,100 feet measured depth. The company says operations remain on budget and on time. No results yet.
6 Mar 2024drilling progress report● Neutral
Iginla's intermediate section is drilled and cased at about 7,800 feet. The curve is next, then the lateral. The company says operations are on budget and on time; no results yet.
28 Feb 2024drilling progress report● Neutral
Maroons and Fleury have now also spudded, so three of four Flames-Maroons wells are started, with surface holes cased. The rig is back on Iginla drilling the intermediate section, and the company says it is on budget and on time. No results yet.
19 Feb 2024drilling spud▲ GoodMajor
The first of four Flames-Maroons wells, Iginla, has spudded, with Kenai Rig 19 set up ahead of schedule. This begins the drilling the company calls transformational, targeting about 2,500 BOE/d by Q4 2024. No results yet.
8 Feb 2024drilling progress report● Neutral
The Sanford Pad is ready for the drill rig, with conductors set on the Fleury, Maroons and Iginla wells. Kenai Rig 19 is due within 10 days, and grid power is connected, saving generator rental. Continues the Flames-Maroons plan; no well results yet.
17 Jan 2024drilling progress report▲ Good
The multi-well Sanford Pad is built, on budget. Three wells (Fleury, Maroons, Iginla) will drill from it and a fourth (Rocket) from the existing Flames pad, under the Flames-Maroons Development Plan announced 13 December 2023. No well results yet.
22 June 2023drilling progress report● Neutral
A rig is on site at Juanita to test the next Simpson Group zone, starting around end of week and taking about 6 weeks. Thelma's surface facilities were upgraded to take Juanita's output instead of building new ones. No new results.
26 Apr 2023resource reserve update▲ GoodMajor
Independent engineers Haas certify SWISH 2P net reserves of 11.9 MMBOE (1P 3.7 MMBOE), with pre-tax NPV10 of US$170.5m (A$254.5m). This is a big step up from the 3.45 MMboe maiden reserves of 2017, and covers twenty undrilled locations. Excludes Bradbury and future pooling.
2 Mar 2023drilling result▲ GoodMajor
Logs on the Juanita well show 389 feet of net pay within 1,119 feet gross across all the pre-drill target zones, and production casing is set. Production testing, several months of reservoir-by-reservoir work, starts in 2–3 weeks. Pay is not yet flow or reserves. WI stated as 95%.
14 Feb 2023drilling progress report● Neutral
Wolf Pack is circulating fluids while the gas sales pipeline connection, flowlines and tank battery are installed. Flowback through permanent facilities is next. Routine progress; no flow results.
2 Feb 2023drilling progress report● Neutral
Wolf Pack's isolation plugs have been milled out and the snubbing unit demobilised. Fluid circulation to clean up the well comes next, before flowback. Routine progress; no flow results yet.
23 Jan 2023drilling result▲ Good
Juanita reached total depth of ~6,350 ft, with oil shows and elevated gas readings in all ten target reservoirs. Wireline logging comes next; shows are only an early indicator and no flow or reserves are confirmed. Follows the November rig suspension.
18 Jan 2023drilling progress report▲ Good
Multi-stage hydraulic stimulation of Wolf Pack, the first Phase Two SWISH well, is complete, and the crew is demobilising. Next are milling out plugs, clean-up and flowback. No flow rates yet.
17 Jan 2023drilling progress report▲ Good
Dan D Rig 7 is set up and tested, and Juanita has been re-entered and is drilling at about 3,500 ft. This resolves the rig-replacement thread after the November suspension; logging of the ten target zones is next.
5 Jan 2023drilling progress report● Neutral
A replacement rig, Dan D Rig 7, is mobilising to the Juanita well, with re-entry expected the week of 9 January. It follows the November suspension at ~3,500 ft TVD for over-pressure. No new results; routine progress.
22 Dec 2022drilling result▲ GoodMajor
Wolf Pack reached total depth of ~17,260 ft in 37 days, with oil and gas shows throughout the lateral, and production casing is run and cemented. Rig release is under way; stimulation and production facilities come next. Flow rates are not yet known.
15 Dec 2022drilling progress report▲ Good
Wolf Pack is drilling the lateral at ~13,500 ft measured depth, with extensive oil and gas shows that the company says match expectations. Shows are an early indicator only; production rates are not yet known.
7 Dec 2022drilling progress report● Neutral
Wolf Pack's curve has landed in the planned Sycamore bench at ~9,900 ft and the well is drilling the horizontal section at ~10,950 ft measured depth. Reported on schedule; routine progress, no flow results yet.
1 Dec 2022drilling progress report● Neutral
Wolf Pack's intermediate section has been drilled, cased and cemented, and drilling of the curve has begun. The well targets the Sycamore with ~7,500 ft lateral and ~17,750 ft planned measured depth. Routine progress, no results.
24 Nov 2022drilling progress report● Neutral
Wolf Pack's surface hole is drilled, cased and cemented, and the well is drilling the intermediate section at ~6,000 ft TVD. Reported on schedule; routine progress with no results yet.
21 Nov 2022drilling progress report▼ BadMajor
The Juanita well hit an over-pressured zone in the Springer Group at ~3,500 ft TVD, so drilling is suspended and the rig demobilised as it is unsuited. Oil shows were seen in the first of ten target zones. Restart is likely early in the New Year.
15 Nov 2022drilling spud▲ GoodMajor
The Wolf Pack well, first of the Phase Two SWISH development wells, has spudded using Latshaw Rig 12 and is drilling the vertical section toward the first casing point. This follows the rig contract and pad work; operations are reported on schedule, with no results yet.
9 Nov 2022drilling spud● Neutral
The Juanita well, the first in the new Bradbury area, has spudded with surface casing cemented and is drilling the straight hole at about 2,000 ft TVD toward ~6,450 ft. Operations are reported on schedule; no zone results yet.
3 Nov 2022drilling progress report● Neutral
Wolf Pack pad is complete and the conductor is set and cemented. Drill rig and crew are expected on site the week of 7 November. Preparation step ahead of the spud; no drilling results yet.
