Past year: ▼ 41%(7.70c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
24 Sept 2019drilling progress report● Neutral
Vintage's update: fishing recovered only part of the stuck logging tool, with the rest left below the casing now being run in Albany-2. Rig then moves to Albany-1; Condor will stimulate both wells, with flow testing later in the year.
24 Sept 2019drilling progress report● Neutral
Fishing recovered only part of the stuck logging tool; the rest stays below the production casing now being run in Albany 2. Rig then moves to Albany 1 for the sidetrack, with Condor contracted to stimulate both wells before testing.
17 Sept 2019drilling progress report● Neutral
Vintage's update: Albany-2 logs show 12-15% porosity and gas, but a logging tool is stuck and being fished. Rig move to the Albany-1 sidetrack is delayed to late the next week. Repeats Comet Ridge's update.
17 Sept 2019drilling progress report● Neutral
Albany 2 logs show good reservoir quality, gas in several sandstone sections and porosity up to 15%. A logging tool got stuck and is being fished out, which may delay the rig move to the Albany 1 sidetrack to late the following week. Casing and Q4 evaluation follow.
10 Sept 2019drilling result▲ GoodMajor
Albany 2 reached total depth of 2702 m. Preliminary logs show the top 13 m of reservoir with 12-15% porosity, which Comet Ridge says exceeds pre-drilling expectations and is better than Albany 1. Flow rates are not yet known; rig moves to Albany 1 next.
10 Sept 2019drilling progress report● Neutral
Vintage's update: Albany-2 reached 2,702 m on 6 September; quick-look logs indicate gas and pressure measurements are under way. Rig heads to the Albany-1 sidetrack later this week. Largely repeats Comet Ridge's update.
3 Sept 2019drilling progress report▲ GoodMajor
Albany 2 at 2605 m with 62 m of core, mostly sandstone with gas shows and signs of permeability; no flow rates yet. Vintage reached 30%, so Comet Ridge is 70%, with its share of Albany contingent resource now 39/107/292 PJ (1C/2C/3C). Total unchanged.
3 Sept 2019drilling progress report● Neutral
Vintage's update: Albany-2 coring is finished with 62 m of core cut and gas shows seen, now drilling ahead at 2,605 m toward a planned 2,752 m. Repeats Comet Ridge's 3 September update; no flow rates yet.
2 Sept 2019farm in farm out completion● NeutralMajor
Vintage completed its Stage 2 farm-in, reaching the $10m gross funding point and lifting its Galilee Deeps JV interest from 15% to 30%. Costs now split 70:30. Vintage's net Albany contingent resource is 16/43/116 Bcf (1C/2C/3C).
27 Aug 2019drilling progress report● Neutral
Vintage's update: first 27 m core cut at Albany-2 with 100% recovery, predominantly sandstone. Repeats Comet Ridge's update.
27 Aug 2019drilling progress report▲ Good
First 27 m core cut at Albany 2 (2455-2482 m) with 100% recovery, predominantly sandstone. It is the first core from the Albany field. Lab analysis and further coring are still to come.
20 Aug 2019drilling progress report● Neutral
Albany 2 reached 2452 m, just into the top of the Lake Galilee Sandstone, and intermediate casing was being cemented. Coring of about 300 m is to follow. Stimulation remains planned for Q4 2019.
20 Aug 2019drilling progress report● Neutral
Vintage's update: Albany-2 casing at 2,452 m being cemented ahead of coring the Lake Galilee Sandstone. Repeats Comet Ridge's update.
13 Aug 2019drilling progress report● Neutral
Vintage's weekly update: Albany-2 drilling ahead at 1848 m toward the 2,430 m casing point. No new result.
12 Aug 2019drilling progress report● Neutral
Albany 2 drilling ahead at 1795 m, with surface casing set and cemented. Still planned to reach 2752 m in 31 days. No new result.
6 Aug 2019drilling progress report● Neutral
Vintage's weekly update: Albany-2 drilling ahead at 853 m after surface casing set at 708 m. No new result.
30 July 2019drilling spud▲ GoodMajor
Albany 2 spudded 30 July 2019 on Ensign Rig 932, after the wet-season delays. Planned depth 2752 m over 31 days, 7.5 km from Albany 1. Mud-based drilling means no instant gas rates; stimulation is now expected in Q4 2019.
30 July 2019drilling spud● Neutral
Vintage's version of the Albany-2 spud on 30 July: 2752 m planned depth, Lake Galilee Sandstone target at about 2,430 m, coring planned. Vintage holds 15%, rising to 30% on completing Stage 2. It cites a net 2C of 23 PJ for its initial 15%.
12 July 2019drilling result▲ GoodMajor
First-pass seismic interpretation confirms a closed structure at Lake Galilee, about 20 km2 with ~60 m closure, 24 km south of Albany. Four new leads were added, and Lake Galilee-1 appears drilled on the structure's edge. More seismic is needed for several leads. No well drilled yet.
12 July 2019drilling result▲ Good
Vintage's version of the seismic results: four new leads take the total to 27, and the main Lake Galilee lead is upgraded to 'drill ready'. Lake Galilee structure is about 20 km2. Repeats Comet Ridge's update, with the added drill-ready status.
25 June 2019drilling scheduled● Neutral
Vintage reports Rig 932 is moving from Moomba, with the Albany-2 pad and camp complete. Spud is now expected early July 2019, slipping from late June. Albany-2 will appraise a 61 km2 structure about 7 km from Albany-1, with stimulation later in 2019.
28 May 2019drilling scheduled● Neutral
Vintage's version of the operator's update: rig mobilisation early to mid-June, Albany-2 spud expected late June, and Condor chosen for stimulation. Repeats Comet Ridge's announcement, adding that Albany-2 will be cored. Vintage stays at 15%, rising to 30% on completing Stage 2.
5 Apr 2019drilling scheduled● Neutral
Vintage repeats the operator's update: Albany 2 spud delayed until at least early May by rain, and early seismic views show possible leads near Lake Galilee-1. Vintage's stake stays 15%, rising to 30% on completing Stage 2.
5 Apr 2019drilling scheduled● Neutral
Albany 2 spud is delayed to early May at the earliest because of heavy rain and road closures. Early seismic processing shows several possible leads near Lake Galilee-1 and a new anticline about 25 km north, similar in relief to Albany, needing more data.
5 Mar 2019drilling progress report● Neutral
Vintage's version of the Koburra seismic completion: 336 km acquired 2 March, with processing alongside 619 km of older seismic. Rig 932 is due to leave Moomba by end of March, delayed by rain. Repeats Comet Ridge's announcement.
5 Mar 2019drilling progress report● Neutral
The Koburra 2D seismic survey finished on 2 March at 336 km, slightly above the planned 325 km, with good-quality raw images. Albany 2 pad work starts next week; Rig 932 move is about two to three weeks late because of rain. Interpretation is due in the June quarter.
9 Jan 2019drilling result▲ GoodMajor
Sirius Road 2 was drilled to 1,990 m with 1,437 m in the Castor seam (96% in seam), and the rig demobilised, completing the five-well Mahalo drilling. Memooloo 2 testing meets expectations; Struan 2 and Sirius Road 1 testing starts shortly.
2 Jan 2019drilling scheduled● Neutral
A 325 km 2D seismic program across the Galilee permits began 30 December, run by Synterra. It should finish by early February, with data ready late in the March 2019 quarter. It aims to define drill targets beyond Albany 1 and 2.
24 Dec 2018drilling spud● Neutral
Sirius Road 2 spudded 21 December as a single lateral targeting the 3.3 m Castor seam, not both seams. The thin Pollux seen in Sirius Road 1 is not considered representative, so Pollux testing is deferred to a future well.
19 Dec 2018drilling result● Neutral
Sirius Road 1 vertical well reached 506 m with 6.9 m net coal. The Castor seam was 3.3 m, as expected, but the Pollux was only 0.9 m, thinner than predicted. Sirius Road 2 is due to spud 21 December.
