Past year: ▼ 6%(5.80c – 9.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Aug 2008drilling result▲ GoodMajor
Preliminary log interpretation shows Blamore 1 net Permian coal of slightly over 160m, about four times the thickness expected, with gases from methane to pentane. This lifts the CBM case in the Pedirka Basin. CBM93001 is the next well.
11 Aug 2008drilling progress report● Neutral
Blamore 1 is preparing to run drill stem test tools over several intervals to check permeability. Preliminary log reading suggests there may be more coal than the roughly 87m logged earlier. Test results to follow.
8 Aug 2008drilling progress report● Neutral
Logs from 1,500m to 1,960m are complete at Blamore 1 and sidewall cores are being recovered and examined. Stopping at 2,128m is still under consideration. No new oil shows or results.
7 Aug 2008drilling progress report▼ Bad
Blamore 1 is running electric logs and preparing sidewall cores. Central is now considering completing the well at 2,128m rather than the planned 2,500m, which would leave the deeper primary targets untested. No new oil shows.
6 Aug 2008drilling progress report▲ Good
The 7-inch casing at Blamore 1 was run successfully over the tight section, and a full suite of electric logs is now being run from 1,500m to 1,960m. No new oil shows reported.
5 Aug 2008drilling progress report● Neutral
Blamore 1 is still running 7-inch casing over the tight section, down to about 900m. Electric logs over the Purni coals follow. No new results or oil shows.
4 Aug 2008drilling progress report▼ Bad
The cement plug attempt at Blamore 1's tight section near 1,300m failed, so 7-inch casing is being run over the problem zone before electric logging. Central wants logs over the Purni coals, as some may hold enough gas to test.
1 Aug 2008drilling progress report● Neutral
Blamore 1 is preparing a cement plug over the troublesome tight hole section near 1,300m, before drilling out to run logs. No new results; no further oil shows; planned depth remains 2,500m.
31 July 2008other● Neutral
Coretrack says its core-recording tool was not run at Blamore 1 because Central's coring did not proceed in July, for reasons it says were unrelated to the tool. Discussions continue on when coring might restart. It is not a Central announcement.
31 July 2008drilling progress report▼ Bad
Blamore 1 crews are reaming a tight hole section near 1,300m before setting casing or a cement plug so logging can continue. Depth stays 2,128m; no new oil shows. The tight section is a fresh hole problem on top of the earlier stuck pipe.
30 July 2008drilling progress report● Neutral
Blamore 1 is still circulating and conditioning the hole on a wiper trip before more logging. Depth stays 2,128m, about 87m of cumulative coal and gas peaks up to 233 units. No new oil shows; repeats the consultant's CBM view.
29 July 2008drilling progress report● Neutral
Blamore 1 is circulating and conditioning the hole on a wiper trip before continuing intermediate logging runs. No new results; depth still 2,128m, with no oil shows beyond those reported.
28 July 2008drilling progress report● Neutral
Stuck pipe in Blamore 1 was backed off at 2,064m; the crew is rigging up to run intermediate electric logs. Depth remains 2,128m, short of the 2,500m plan. No new oil shows.
25 July 2008drilling progress report▼ Bad
Blamore 1 is still at 2,128m, attempting to establish circulation before fishing out the stuck pipe. No new results; no further oil shows.
24 July 2008drilling progress report▼ Bad
Blamore 1 remains at 2,128m with stuck pipe; the crew is preparing to run a backoff shot. No new oil shows. CBM wells 93001 and 107001 are still planned after Blamore.
23 July 2008drilling progress report▼ Bad
Blamore 1 reached 2,128m with drill pipe stuck downhole, and crews were preparing to back off the stuck section before fishing it out. Central planned CBM wells 93001 and 107001 after Blamore 1, expecting similar coals updip; no new oil shows.
22 July 2008drilling progress report▲ Good
Blamore 1 reached 2,126m in the upper Crown Point/Tirrawarra interval, with about 87m of cumulative coal. A consultant's preliminary view says the coals suggest good permeability and potential for large coal seam gas, supporting the CBM programme. Not a result.
22 July 2008director officer appointment● Neutral
Non-executive director Richard Faull became Joint Company Secretary on 22 July. Mark Di Silvio will resign as Company Secretary effective 15 August, leaving Faull as sole secretary.
21 July 2008drilling progress report● Neutral
Blamore 1 is drilling at 1,954m, with about 86m of cumulative coal and gas peaks up to 233 units. Purni now over 450m thick. No further oil shows; Tirrawarra not yet reached.
18 July 2008drilling progress report● Neutral
Blamore 1 is drilling at 1,812m. Cumulative coal is about 66m with gas peaks up to 233 units. A poor, slow-cut fluorescence show at 1,809-1,812m may partly be coal fines. Primary targets still not reached.
17 July 2008drilling progress report● Neutral
Blamore 1 stopped for rig repairs at 1,775m. About 52m of cumulative coal has been seen with gas peaks up to 133 units. Tirrawarra not yet reached; no new oil shows. Final results await logging.
16 July 2008drilling progress report● Neutral
Blamore 1 is drilling at 1,595m in the Purni Formation. Coal was hit at 1,537-1,544m with elevated gas readings up to 26 units. No new oil shows; primary targets remain deeper.
15 July 2008drilling progress report● Neutral
Blamore 1 is preparing to drill ahead from 1,405m, having passed the top of the Permian Purni Formation at 1,370m. No oil shows beyond the earlier 996-1017m interval. Primary targets are still deeper; planned depth 2,500m.
15 July 2008admin correction● Neutral
Amended notice for Dunmore's 8 July purchase of 10,000 shares. It corrects his prior holding to 666,666 shares; the 676,666 holding afterwards is unchanged. Administrative correction.
14 July 2008other● Neutral
Director William Dunmore bought 10,000 shares off-market on 8 July for $1,500, lifting his direct holding to 676,666 shares. Options unchanged. Routine director interest notice.
14 July 2008drilling result● Neutral
Blamore 1 found residual oil shows over 996-1017m in top Algebuckina Sandstone, a secondary target. Central reads them as a c.15m oil column that has since dissipated, so no test was recommended. Primary targets lie deeper; drilling continues.
11 July 2008drilling progress report● Neutral
Blamore 1 is pressure testing blowout preventers, with drilling expected to resume that night. Formation tops continue to come in higher than forecast; no new result.
11 July 2008other● Neutral
Central cancelled 1,200,000 unlisted 30-cent employee options after a resignation and issued 200,000 new 33-cent options to staff. Shares on issue stay at 252,308,265. Administrative.
10 July 2008drilling progress report● Neutral
Blamore 1 is landing casing and preparing to cement it. Central calls it encouraging that formation tops are coming in higher than forecast; no hydrocarbon result yet.
9 July 2008drilling progress report● Neutral
Blamore 1 is running 9 5/8-inch casing. It is the first of a planned seven wells in 2008; planned total depth is 2,500m. Formation tops so far are shallower than forecast.
