30 Jan 2023drilling scheduled▲ Good
NZOG relays Cue's announcement that exploration well BA-01 in the Mahato PSC is preparing to drill this quarter, subject to environmental clearances. Cue holds 12.5%. Same content as Cue's 27 January release.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Jan 2023drilling scheduled▲ GoodMajor
Cue says exploration well BA-01 in the Mahato PSC (Cue 12.5%) is preparing to drill this quarter, subject to environmental clearances. Best-case prospective oil in place is 93 mmbbl; the operator rates chance of success at 38%. First Mahato exploration well since the PB discovery.
19 Dec 2022drilling result▲ Good
Mahato PB-19, the sixth well of the campaign, is producing about 800 bopd; the field is about 5,500 bopd. PB-10 underperformed and is being worked over. Seven production and two water injection wells remain; PB-11 is next. Cue holds 12.5%.
11 Oct 2022drilling progress report▲ Good
Central reports Palm Valley-12 ST2 reached total depth of 3,039m on 8 October and was cleaning up for a further flow test, then completion as a gas producer. Same content as the NZOG release; Cue holds 15%.
11 Oct 2022drilling progress report▲ Good
NZOG relays that Palm Valley-12 ST2 reached total depth of 3,039m on 8 October and was cleaning up ahead of a further flow test. It will then be completed as a gas producer. Cue holds 15%.
27 Sept 2022drilling progress report▲ Good
Central reports the Palm Valley-12 P1 sidetrack at 2,063m on 26 September, about 200m into the P1, with gas throughout and flared. No flow rate test yet. Same content as the NZOG release; Cue holds 15%.
27 Sept 2022drilling progress report▲ Good
NZOG relays Central's update: the Palm Valley-12 P1 sidetrack reached 2,063m on 26 September, about 200m into the P1, with gas encountered throughout and flared. No flow rate test yet. Drilling will continue laterally; Cue holds 15%.
20 Sept 2022drilling progress report● Neutral
Central reports the Palm Valley-12 P1 sidetrack completed its 8.5-inch section at 1,860m by 19 September. The 7-inch liner is being run and cemented, then the 6-inch P1 section will be drilled. Same content as the NZOG release; Cue holds 15%.
20 Sept 2022drilling progress report● Neutral
NZOG relays Central's update: the Palm Valley-12 P1 sidetrack finished its 8.5-inch section at 1,860m by 19 September. The 7-inch liner is being run and cemented before drilling the 6-inch P1 section. Cue holds 15%.
13 Sept 2022drilling progress report● Neutral
Central reports the Palm Valley-12 P1 sidetrack at 1,733m on 12 September, 402m drilled in the 8.5-inch section. The section is still planned to end at 1,860m. Same content as the NZOG release; Cue holds 15%.
13 Sept 2022drilling progress report● Neutral
NZOG relays Central's update: the Palm Valley-12 P1 sidetrack was at 1,733m on 12 September, having drilled 402m of 8.5-inch hole. The build section is still planned to end at 1,860m. Cue holds 15%.
6 Sept 2022drilling progress report● Neutral
NZOG relays Central's update: the Palm Valley-12 P1 sidetrack (ST2) began, reaching 1,428m on 5 September after 97m of 8.5-inch hole. The build section is planned to 1,860m, then a 7-inch liner. Cue holds 15%.
6 Sept 2022drilling progress report● Neutral
Central reports the Palm Valley-12 P1 sidetrack started, at 1,428m on 5 September with 97m drilled. The build section is planned to 1,860m before a 7-inch liner is set. Same content as the NZOG release; Cue holds 15%.
30 Aug 2022drilling progress report● Neutral
NZOG relays Central's update: the Palm Valley-12 P3 lateral was plugged and abandoned as of 29 August, and preparations continue for the P1 sidetrack. Cue holds 15%.
30 Aug 2022drilling progress report● Neutral
Central confirms the Palm Valley-12 P3 lateral was plugged and abandoned as of 29 August, with preparations continuing for a sidetrack into the producing P1 unit. Same content as the NZOG release of the same day; Cue holds 15%.
22 Aug 2022drilling result▼ Bad
Central confirms the Palm Valley-12 P2/P3 lateral found formation water and no significant gas shows at 2,431m, and was curtailed. The well will be plugged and sidetracked into the producing P1 unit. Same result as the NZOG release; Cue holds 15%.
22 Aug 2022drilling result▼ BadMajor
The Palm Valley-12 P2/P3 lateral, at 2,431m, hit formation water with no significant gas shows, so the joint venture stopped drilling it. The section will be plugged and a P1 sidetrack prepared. This ends the deeper exploration try; Cue holds 15%.
22 Aug 2022drilling result▼ Bad
Cue relays Central's update: the Palm Valley-12 P2/P3 lateral at 2,431m found formation water and no significant gas shows, and drilling was curtailed. A P1 sidetrack into the currently producing formation is being prepared. Cue holds 15%.
16 Aug 2022drilling progress report● Neutral
Central reports the Palm Valley-12 sidetrack at 2,301m on 15 August, 151m drilled in the week in the lower P2. Completion still scheduled for August. Same content as the NZOG release; Cue holds 15%.
16 Aug 2022drilling progress report● Neutral
NZOG relays Central's update: the Palm Valley-12 sidetrack reached 2,301m on 15 August, 151m in the week, in the lower P2. Completion is still scheduled for August. Cue holds 15%.
9 Aug 2022drilling progress report● Neutral
Central reports the Palm Valley-12 sidetrack at 2,150m on 8 August, 130m drilled in the week, still building angle towards horizontal. Completion is still scheduled for August. Same content as the NZOG release; Cue holds 15%.
9 Aug 2022drilling progress report● Neutral
NZOG relays Central's update: the Palm Valley-12 sidetrack reached 2,150m on 8 August, 130m in the week, with the hole angle still building towards horizontal. Completion is still scheduled for August. Cue holds 15%.
2 Aug 2022drilling progress report● Neutral
NZOG relays Central's update: the Palm Valley-12 7-inch liner is cemented and air drilling of the P2/P3 lateral should start within 24 hours. The lateral is expected to take about 3 weeks. Cue holds 15%.
2 Aug 2022drilling progress report● Neutral
Central reports the Palm Valley-12 liner is cemented at 2,020m and air drilling of the P2/P3 lateral should start within 24 hours, taking about 3 weeks. Cue holds 15%. Same content as the NZOG relay of the same day.
26 July 2022drilling progress report● Neutral
Central reports the Palm Valley-12 ST1 bend section reached total depth of 2,020m on 25 July. A 7-inch liner is being run and cemented ahead of up to 1,000m of lateral drilling. Same as NZOG release.
26 July 2022drilling progress report● Neutral
NZOG relays Central's update: Palm Valley-12 sidetrack bend reached section depth of 2,020m on 25 July. A 7-inch liner is being run and cemented before drilling up to 1,000m in the lower P2 and P3. Cue holds 15%.
19 July 2022drilling progress report● Neutral
Central reports horizontal drilling of the Palm Valley-12 ST1 sidetrack has started, with about 40m of the bend drilled. A liner will be set at 2,020m before up to 1,000m of open hole in the lower P2 and P3. Same as NZOG release.
19 July 2022drilling progress report● Neutral
NZOG relays Central's update: the Palm Valley-12 sidetrack has begun, with about 40m of the bend drilled into the middle P2. A liner will be set at 2,020m before up to 1,000m of horizontal drilling. Cue holds 15%.
5 July 2022drilling progress report● Neutral
Central reports Palm Valley-12 at 2,335m on 4 July, 57m in the week, after tests and a cement plug to cure the loss zone. Mud drilling resumed through the P4 unit. Same content as the NZOG release.
5 July 2022drilling progress report● Neutral
NZOG relays Central's update: Palm Valley-12 reached 2,335m on 4 July, only 57m in the week, after pressure tests and a cement plug to cure losses. Arumbera target is still 3,560m, with a P1 lateral as fallback; Cue holds 15%.