Past year: ▲ 47%(7.40c – 13.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Dec 2014resource reserve update▲ GoodMajor
A new 3D-Geo assessment lifted Greater Cyrano and Elimia P50 oil in place 28% to 13.4 MMstb, and P50 recoverable oil 59% to 2.68 MMstb. Including Nasutus Extension, R3/R1 P50 is 3.01 MMstb. R3/R1 is 100% owned.
28 Nov 2014farm in farm out completion▲ GoodMajor
NOPTA approved and registered the transfer of the remaining Vic/P47 interest to Oil Basins and Shelf Oil. The group now holds 100% of the title, including the Judith gas field and Moby location, completing the deal announced 14 November.
28 Nov 2014farm in farm out agreement● NeutralMajor
Third-party release: Rey Resources agreed to buy Backreef Oil's 50% of the Derby Block for $2m on production licence grant or a 2% royalty. It is conditional on the SAT case outcome, FIRB approval and ending other sale agreements. Oil Basins' position is disputed.
18 Nov 2014resource reserve update▲ GoodMajor
Oil Basins restates its booked resources across all assets, now operator of all but Vic/P41. Subject to approval of the Vic/P47 transfer, 2C contingent resources rise from about 2 MMbbl to 18.9 MMBOE; P50 prospective resources exceed 2 billion BOE, about 2.5 BOE per share on 928.9m shares.
17 Nov 2014resource reserve update▲ GoodMajor
Oil Basins group moves to 100% of Vic/P47 for nil consideration, subject to NOPTA approval, and books 101 Bcf of 2C contingent resources, with 3C over 275 Bcf for Judith. It is seeking a farm-in or sale of Shelf Oil and Vic/P47.
29 Oct 2014resource reserve update▲ GoodMajor
Oil Basins estimates its net 35.435% share of the revised Vic/P41 prospective resource at 367.1 Bcf gas and 17.5 MMbbl liquids, about 78.7 MMBOE (best estimate). These are undrilled prospects, not discovered volumes.
29 Oct 2014resource reserve update▲ GoodMajor
Bass Strait Oil, Vic/P41 operator, raised best-estimate prospective gas resource across Vic/P41 and Vic/P68 to 1,197 Bcf unrisked, up 62% from 740 Bcf, and plans a farm-out from November. Oil Basins group holds 35.435% of Vic/P41. Third-party release.
30 May 2014drilling progress report▲ Good
Oil Basins is about to start a flora and fauna survey on EP 487 ahead of 500 km of 2D seismic. It has an environmental consultant, a Broome area manager and landowner consents, and will fund the survey in the interim. The environment plan is due by 31 July 2014.
3 Sept 2013farm in farm out agreement● Neutral
Bass Strait Oil says its Vic/P41 and Vic/P68 farm-in deals with Cooper Energy remain conditional, and claims Oil Basins' and Strategic Energy's pre-emption rights have lapsed. An assignment deed goes to JV partners, then government, for approval.
5 July 2013farm in farm out agreement▲ Good
Operator Bass Strait Oil signed a non-binding letter of intent with Cooper Energy. Cooper would reprocess seismic and receive a 25.8% interest in Vic/P41, where Oil Basins holds 17.935%. It is conditional on government approval of a work program variation. The effect on Oil Basins' share is not stated.
24 Jan 2013farm in farm out agreement▲ Good
Octanex confirms buying 25% of the Derby Block for $1.75m, conditional on permit grant, plus 15m Oil Basins shares at 3.5c ($525k). It says Buru is acquiring Backreef Oil's 50%, so likely partners are Buru 50%, Oil Basins 25%, Octanex 25%.
18 Dec 2012resource reserve update▲ GoodMajor
Independent review lifts Cyrano and Nasutus Barrow Group 2C contingent oil 105% to 1.09 MMbbl; 1C+1P is 1.19 MMstb and 2C+2P 2.02 MMstb including the new Elimia prospect. Excludes the Mardie Greensand. Revises the 2011 figures (2C 1.57 MMstb combined).
31 Oct 2012drilling result▼ Bad
Oil Basins' own release, same content as the Green Rock lodgement: East Blina-1 logs show all zones water wet, so the well is being plugged and abandoned. Farm-in commitments are complete. No new information beyond ref 1.
31 Oct 2012drilling result▼ BadMajor
East Blina-1 logs show all zones water wet, so no further testing; the well is being plugged and abandoned. This ends the oil hopes from the earlier Laurel shows. The company says the data extends the reservoir zone 3.7 km to Backreef-1 and helps pick future targets.
30 Oct 2012drilling progress report● Neutral
Green Rock re-lodges Oil Basins' fourth East Blina-1 report: total depth 1,195m reached, with hydrocarbon shows in the Laurel Formation but none in the Yellow Drum cuttings. Wireline logs will decide. Farm-in commitments are now complete.
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.
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.
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.
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.
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 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.
22 May 2012drilling progress report● Neutral
Green Rock re-lodges Oil Basins' 22 May Backreef-1 delay notice. No new information.
