Past year: ▲ 47%(7.40c – 13.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Oct 2012drilling result● NeutralMajor
East Blina-1 reached 1,195m total depth. Continuous hydrocarbon shows were seen in the Laurel Formation (1,035-1,060m) but none in the Yellow Drum cuttings; logs will decide. The target came in 27m high, and the Backreef farm-in commitments are complete.
30 Oct 2012annual report● Neutral
Oil Basins' annual report to 30 June 2012 restates the portfolio, including a 17.4% Bass Strait Oil stake and the roughly $3.5m Green Rock farm-out of 20% of Backreef. Native title arbitration decision on 5/07-8 is expected in December 2012.
25 Oct 2012drilling progress report● Neutral
East Blina-1 reached only 410m, 56m in the week. Blowout preventer testing ran long and a fishing job retrieved an object from the hole in one pass. Drilling resumed 24 October; target still 1,210m.
25 Oct 2012drilling progress report● Neutral
Green Rock re-lodges Oil Basins' third East Blina-1 report: 410m reached after delays from blowout preventer testing and a fishing job. It holds 20% of the Backreef Area. No new information.
22 Oct 2012drilling progress report● Neutral
Green Rock re-lodges Oil Basins' second East Blina-1 operations report: 354m reached, surface casing set at 349m, formations higher than predicted. It holds 20% of the Backreef Area. No new information.
22 Oct 2012drilling progress report● Neutral
East Blina-1 reached 354m, with surface casing set at 349m. Formations are running about 24-27m higher than predicted. Next steps are testing the blowout preventers and drilling the production hole to 1,210m.
18 Oct 2012drilling progress report● Neutral
Green Rock re-lodges Oil Basins' first East Blina-1 operations report: spudded 17 October, 48m depth, formations coming in higher than predicted. It holds 20% of the Backreef Area. No new information.
18 Oct 2012drilling progress report● Neutral
East Blina-1 spudded 17 October and was at 48m after the first day. The Blina Shale came in about 27m higher than predicted. Surface casing is next; target Yellow Drum top is predicted at 1,162m.
17 Oct 2012other▼ BadMajor
Bass Strait Oil says the Federal Court declined Oil Basins' bid to set aside the shares issued to Somerton. The court saw a breach of a listing rule but found prejudice already addressed. Bass Strait Oil intends to seek its legal costs from Oil Basins.
16 Oct 2012drilling scheduled● Neutral
Green Rock re-lodges Oil Basins' 16 October announcement that East Blina-1 has all approvals and is expected to spud that day. It holds 20% and has already paid the $2.5m well cost. No new information.
16 Oct 2012drilling scheduled▲ Good
Final environment plan approval received, so East Blina-1 is expected to spud on 16 October with no rig standby costs. This clears the delay flagged on 8 October. Target 1,210m, completion about 27 October, ahead of the 31 October farm-in deadline.
10 Oct 2012other● Neutral
Oil Basins lodges a copy of its company constitution. It is a governing document with no new operational or financial news; the excerpt does not show whether any rules changed.
8 Oct 2012drilling scheduled● Neutral
Interim approval received for site clearing at East Blina-1, with the rig due on site 14 October and spud expected on or before 16 October. Environment plan approval is delayed by new WA mud-disclosure rules. The 31 October deadline remains.
8 Oct 2012drilling scheduled● Neutral
Green Rock re-lodges Oil Basins' 8 October East Blina-1 update, noting it holds the 20% Backreef interest and has already paid the $2.5m well cost. Repeats known information; nothing new.
28 Sept 2012other● Neutral
Oil Basins notes another Gordon Capital research report is on its website. No financial or operational news.
25 Sept 2012annual report▲ Good
Oil Basins reports a maiden profit of $842,515 for the year to 30 June 2012. It says the Green Rock farm-out gives a free carry in East Blina-1, and the Vic/P41 12.5% was converted at nil, saving over $4.1m.
25 Sept 2012annual report● Neutral
Annual report to 30 June 2012. Restates the portfolio, including a 17.4% Bass Strait Oil stake, and the Green Rock farm-out for about $3.5m. The 5/07-8 native title arbitration hearings began in late June and are ongoing.
18 Sept 2012drilling scheduled▲ GoodMajor
Oil Basins signed the rig contract with Dynamic Drilling on 17 September for East Blina-1 (1,210m target depth). Spud is expected early October, with dry-hole cost currently below $2.5m. Environmental clearance is due about 30 September.
14 Sept 2012investor presentation● Neutral
Notice that a video of the 4 September conference presentation is on the company website. No new information.
4 Sept 2012other● Neutral
Cooper Energy says it was served with Oil Basins' proceedings, which name its subsidiary Somerton as second defendant over its Bass Strait Oil shares. It is taking legal advice.
4 Sept 2012investor presentation● Neutral
RIU Good Oil conference presentation restating the portfolio. It shows 509.1m shares, cash of $4.5m at 30 June, a price of 3.0c and a market cap of $15.3m, with Albers Group at 7.02%.
4 Sept 2012other● Neutral
Bass Strait Oil says Oil Basins seeks to set aside Somerton's 56.2m-share placement, or 10m of it. It notes an earlier injunction bid failed, says it will defend the case, and the first hearing is 18 September.
3 Sept 2012other● NeutralMajor
Oil Basins, now the largest Bass Strait Oil shareholder, has begun Federal Court action over Bass Strait Oil's discounted placement to Cooper Energy's subsidiary Somerton and its 1-for-6 rights issue. This follows its August stake build.
14 Aug 2012drilling scheduled▲ GoodMajor
Oil Basins signs a letter of intent for Dynamic Drilling Rig 17 to drill East Blina-1 (about 1,100m), with an option for a second well. Spud is expected early October, before the 31 October farm-in deadline, subject to regulator approvals.
14 Aug 2012drilling scheduled● Neutral
Green Rock re-lodges Oil Basins' 14 August East Blina-1 update. It holds the 20% Backreef interest. No new information.
3 Aug 2012other● Neutral
Oil Basins notes another Gordon Capital research report is on its website. No financial or operational news.
2 Aug 2012asset acquisition disposition● NeutralMajor
Oil Basins agrees to buy the Albers Group's 57.76m shares in Bass Strait Oil (operator of its Vic/P41 permit) for $250,000 plus 38.5m new Oil Basins shares. This lifts its holding to 19.87% and makes the Albers Group its largest holder at 7.03%.
30 July 2012other● Neutral
Oil Basins notes a new Gordon Capital research report is on its website. No financial or operational news.
25 July 2012quarterly activities report● Neutral
June quarter report: Backreef-1 is a 'technical' non-commercial oil discovery, with oil like Meda-1's 'Laurel' type. East Blina-1 is planned for late September or early October. Green Rock's 20% farm-out largely funds 2012 work; Vic/P41 interest is now 12.5%.
25 July 2012quarterly activities report● Neutral
June quarter cash report: cash rose to $4.02m from $2.66m, helped by $2.5m from the Green Rock share sale of a subsidiary and $1.1m receipts. Planned spending next quarter is $2.85m, including $2.5m on exploration. No debt.
