Past year: ▼ 39%(5.00c – 12.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 July 2019drilling progress report● Neutral
The SM74 D14 bypass well was kicked off on 28 June and is drilling at 13,988 ft MD, about 70 ft from the original hole. It has not yet reached the zone of interest seen earlier. Drilling methods were changed after the stuck pipe.
25 June 2019drilling progress report● Neutral
Metgasco repeats Byron's 25 June update: SM74 D14 stuck at 14,423 ft MD, sidetrack planned, and 50 ft of possible hydrocarbon sand in the 13,000 Sand with commercial significance undetermined.
25 June 2019drilling progress report● Neutral
SM74 D14 got stuck at 14,423 ft MD, so Byron will sidetrack around it. It saw 50 ft of possibly hydrocarbon-bearing sand in the 13,000 Sand, but its commercial significance is unknown until porosity logs. Two stronger targets remain.
21 June 2019drilling progress report● Neutral
SM74 D-14 passed its formation integrity test and is drilling ahead at 12,960 ft MD, still above the target sands expected below 13,800 ft. No result yet.
21 June 2019drilling progress report● Neutral
Metgasco repeats Byron's 21 June update: SM74 D-14 drilling ahead at 12,960 ft MD after a successful formation integrity test. No new information.
19 June 2019drilling progress report● Neutral
Metgasco repeats Byron's 19 June update: SM74 D-14 at 12,726 ft MD with 9-5/8 inch casing being cemented ahead of target sands. No new information.
19 June 2019drilling progress report● Neutral
SM74 D-14 reached 12,726 ft MD and 9-5/8 inch casing was being cemented. Target sands are expected below 13,800 ft MD. Drilling continues after a formation integrity test; no result yet.
27 May 2019drilling progress report● Neutral
Metgasco repeats Byron's 27 May update: SM74 D-14 casing set at 3,510 ft MD and drilling ahead at 4,490 ft MD. No new information.
27 May 2019drilling progress report● Neutral
SM74 D-14 had 13-3/8 inch casing cemented at 3,510 ft MD and was drilling ahead at 4,490 ft MD. Planned depth is still 16,747 ft MD. No new result yet.
16 May 2019drilling spud● Neutral
Partner Metgasco repeats Byron's news that SM74 D-14 began drilling on 15 May 2019. It says its share of the well cost is fully funded from cash. Its net share of prospective resource is 1.56 mmbo and 3.96 bcf.
16 May 2019drilling spud● NeutralMajor
The SM74 D-14 Raptor well spud on 15 May 2019 from Ankor's SM73 D platform, after earlier slips. Target depth is 16,747 ft MD, about 50 days, testing 5.2 mmbo and 13.2 bcf gross prospective. SM71 is back producing after a 7-day pipeline shut-in.
9 May 2019resource reserve update▼ BadMajor
Reprocessing of 172 sq miles of seismic is complete. It generated new prospects, especially at SM58, but did not support VR232 and VR251. Byron will write off about US$0.54m and US$0.45m, remove 4.8 Bcf and 74,000 bbl net prospective resource, and hand VR232 to Otto.
18 Mar 2019resource reserve update▲ GoodMajor
Byron says SM58 holds 18.5 Mmbo and 57 Bcf of gross prospective resource, mapped on its new seismic, and will drill it ahead of EI77 and EI63 after SM74. It set up an unsecured US$4.2m loan facility, US$3.25m from directors, for short-term contingencies.
11 Oct 2018drilling result▼ Bad
Partner Otto repeats Byron's report that Weiss-Adler No. 1 was non-commercial and is being plugged. Otto holds 40% and funds 53.33% of the first US$10m of costs. Cost is under US$7.5m. Nothing new on Byron.
11 Oct 2018drilling result▼ BadMajor
Weiss-Adler No. 1, Byron's first Bivouac Peak well, reached 17,766 ft MD and is a dry hole: one objective was water-bearing, the other had under 5 net feet of hydrocarbons. It is being plugged. Cost is under US$7.5m versus US$10.8m budgeted.
5 Oct 2018drilling progress report● Neutral
Weiss-Adler No. 1 at Bivouac Peak has a 9 5/8-inch liner cemented at 14,422 ft and is drilling ahead at 14,856 ft MD, toward the 18,294 ft target. Byron holds 43%. No result yet.
5 Oct 2018drilling progress report● Neutral
Partner Metgasco repeats Byron's update: Weiss-Adler No. 1 is drilling ahead at 14,856 ft, with the liner set at 14,422 ft, and on target for about 75 days. Metgasco holds 10%. No new Byron information.
24 Sept 2018drilling progress report● Neutral
Weiss-Adler No. 1 has 11 7/8-inch casing cemented at 11,890 ft MD and is drilling ahead at 13,918 ft toward 18,294 ft. Byron holds 43%. Still on track, with no result yet.
24 Sept 2018drilling progress report● Neutral
Partner Metgasco repeats Byron's update: Weiss-Adler No. 1 is drilling ahead at 13,918 ft with casing cemented at 11,890 ft, on target for about 75 days. Metgasco holds 10% WI. No new Byron information.
19 Sept 2018resource reserve update▲ GoodMajor
Independent Collarini report (effective 30 June 2018) lifts Byron's net 2P reserves to 29.3 MMboe from 2.3, and 1P to 11.1 from 0.7. Eugene Island 62/63/76/77 gives 45% of 2P. Net prospective resource is steady at about 134 MMboe. Follows the SM71 upgrade of 6 August.
4 Sept 2018drilling progress report● Neutral
Weiss-Adler No. 1 has 16-inch casing cemented at 4,040 ft MD and is drilling ahead at 4,900 ft, on the way to 18,294 ft MD. About 75 days total is still expected. No result yet.
4 Sept 2018drilling progress report● Neutral
Partner Metgasco repeats Byron's update: Weiss-Adler No. 1 is drilling ahead at 4,900 ft with 16-inch casing cemented at 4,040 ft. Metgasco holds 10% WI. No new Byron information.
27 Aug 2018drilling spud● NeutralMajor
The Weiss-Adler No. 1 well at Bivouac Peak East began drilling on 25 August 2018 and was at 1,300 ft TVD by 26 August. Target is 18,000 ft TVD in about 75 days. Byron holds 43%. Resolves the spud thread; the East prospect holds 32.2 MMboe gross prospective resource.
27 Aug 2018drilling spud● Neutral
Partner Otto repeats that drilling started on Weiss-Adler No. 1 at Bivouac Peak East, with the well at 1,300 ft TVD and about 75 days to target. Otto pays 53.33% of the first US$10m of costs. No new Byron information.
6 Aug 2018resource reserve update▲ Good
Partner Otto repeats the SM71 reserves upgrade: gross 2P up 10.6 MMboe to 16.2 MMboe, with 6.6 MMboe net to Otto. It says Bivouac Peak is expected to start later in August. No new Byron information.
6 Aug 2018resource reserve update▲ GoodMajor
Independent report (effective 30 June 2018) lifts SM71 net 2P reserves to 6.6 MMBOE from 2.3, and gross 2P to 16.2 MMBOE from 5.6. Byron says gross project payout of US$52m is expected within a year. Resolves the pending reserves update.
19 July 2018farm in farm out agreement● Neutral
Partner Metgasco confirms it farms into SM74 for a 30% WI, funding 40% (US$4.4m) of the US$11m test well. It says drilling is mid-October 2018, earlier than Byron's November. Follows the farm-in rights talks flagged in June.
19 July 2018farm in farm out agreement▲ GoodMajor
Byron signed a letter of intent to drill its SM74 prospect from the adjacent SM73 D platform, and farmed out 30% WI to Metgasco, which pays 40% of the US$11m well. Spud targeted November 2018; Byron says up to US$20m could be saved. Prospective resource 5.2 million barrels and 13 Bcf.
9 July 2018farm in farm out completion▲ GoodMajor
All partners committed to the Bivouac Peak East well, to spud in the second half of August. Interests are now Byron 43%, Otto 40%, Metgasco 10% and NOLA 7%. Well cost is estimated at US$10.8m, with target depth 18,294 ft and about 75 days to drill.
9 July 2018farm in farm out completion● Neutral
Partner Otto confirms it will take 40% of the Bivouac Peak East well, paying 53.33% of costs up to US$5.33m, funded from SM 71 cash flow. Repeats Byron's 9 July news: all equity now committed, spud late August, about 75 days. No new Byron information.
