1 Aug 2006drilling result▲ Good
Horizon (30% partner) relays ROC's second sidetrack results: four oil sands (16m net) found over 45m downdip, with as many as seven separate upper oil columns. Duplicates operator news; FAR holds 5%.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Aug 2006drilling result● Neutral
Petsec (25% partner) relays ROC's second sidetrack results: four oil sands (16m net pay) found over 45m downdip, up to seven separate upper oil columns, Middle/Lower sands water-wet downdip, deep target had no hydrocarbons. Duplicates operator news; FAR holds 5%.
1 Aug 2006drilling spud● Neutral
Todco Rig 57 has arrived at Galveston Bay State Tract 135 to drill the ST135S #1 well (FAR 12.5%, 9.375% after payout). The 9,900 ft well should take about 12 days, so a result should follow shortly.
1 Aug 2006drilling result▲ GoodMajor
ROC says the second Wei-6-12S-1 sidetrack found four oil sands (16m net pay) more than 45m downdip, outside the currently mapped closure. The upper sands are as many as seven separate oil columns, not one reservoir. Middle and Lower sands were water-wet downdip, as expected. FAR holds 5%.
19 July 2006drilling progress report● Neutral
ROC says the second sidetrack, Wei-6-12S-1Sb, started 13 July and was at 2,217m, about 300m from the discovery well, aiming for 2,849m. Deeper zones are likely water-bearing; the hope is downdip oil in upper sands. Results next week. FAR holds 5%.
19 July 2006drilling progress report● Neutral
Petsec (25% partner) relays ROC's update: second sidetrack Wei-6-12S-1Sb at 2,217m, drilling toward 2,849m, with results due next week. Duplicates operator news; FAR holds 5%.
19 July 2006drilling progress report● Neutral
Horizon (30% partner) relays ROC's update: second sidetrack Wei-6-12S-1Sb drilling at about 2,220m toward 2,849m, outcome due next week. Duplicates operator news; FAR holds 5%.
12 July 2006drilling progress report● Neutral
Horizon (30% partner) relays ROC's update: first Wei-6-12S-1 sidetrack cored and finished, second downdip sidetrack to start this week and finish in August. Duplicates operator news; FAR holds 5%.
12 July 2006drilling progress report● Neutral
ROC reports the first Wei-6-12S-1 sidetrack finished: five cores with ~100% recovery, similar reservoir to the discovery well, TD 2,530m, plugged. A second downdip sidetrack starts this week, completing in August. FAR holds 5%.
12 July 2006drilling progress report● Neutral
FAR relays ROC's sidetrack update (first sidetrack cored, second starting; FAR 5%). Kakwa (FAR 15%) completion rig due late this week to test the Wabamun first. Eagle North-1 (15%) awaits a workover rig late July. Galveston Bay rig due about 15 July.
6 July 2006drilling scheduled● Neutral
Permits issued and pilings being driven for the ST135S #1 well in Galveston Bay (FAR 12.5%, falling to 9.375% after payout). Todco Rig 57 is due 11-15 July; 9,900 ft target, about 12 days of drilling. Repeats the known plan with updated timing.
13 June 2006drilling progress report▲ Good
FAR relays ROC's Wei-6-12S-1 test results: oil from all three zones, up to 5,750 bopd combined (FAR 5%). Kakwa Wabamun testing is under way, with results expected late June 2006. Duplicates operator news.
8 June 2006drilling progress report▼ Bad
Sun Resources says Eagle North-1 testing is still waiting for a completion rig and coiled tubing unit to be available together, due to heavy demand around Bakersfield. No flow rates yet; the delay continues. FAR holds 15%.
8 June 2006drilling progress report▼ Bad
Operator Victoria Petroleum says Eagle North-1 testing is still delayed while it secures a completion rig and coiled tubing unit. No results yet; up to 1,000 bopd is still its hope. FAR holds 15%.
24 May 2006drilling progress report● Neutral
Petsec (25% partner) repeats ROC's update: a three-week production test of at least three zones at Wei-6-12S-1 is about to start, with sidetracks to follow. Duplicates the operator's news; FAR holds 5%.
24 May 2006drilling progress report▲ Good
FAR relays ROC's plan for a three-week test of at least three zones at Wei-6-12S-1 (FAR 5%), then one or two sidetracks, with next news mid-June. Kakwa drilled to 4,080m; Wabamun about 95m thick, thicker than the offset well; testing planned.
24 May 2006drilling progress report● Neutral
Horizon relays ROC's update: a three-week production test of at least three zones in the 95m net pay column at Wei-6-12S-1 is about to start, with one or two sidetracks to follow. Duplicates the operator's news; FAR holds 5%.
23 May 2006drilling progress report● Neutral
Operator Victoria Petroleum says Eagle North-1 testing continues with results 'providing encouragement for further testing'. A completion rig is due on site next week, then a coiled tubing unit. No flow rates given. Up to 1,000 bopd is still anticipated. FAR holds 15%.
23 May 2006drilling progress report● Neutral
Sun Resources says Eagle North-1 testing continues with 'encouraging results'. The drilling rig was released on 20 May, and a cheaper completion rig and coiled tubing unit will be brought in. No flow rates given. FAR holds 15%.
17 May 2006drilling result▲ Good
FAR relays ROC's interim results: 95m net hydrocarbon pay including 80.5m net oil at Wei-6-12S-1 (FAR 5%), and an appraisal of at least two tests and a sidetrack. Duplicates the operator's news.
17 May 2006drilling result▲ GoodMajor
ROC's logs show three oil/gas columns at Wei-6-12S-1 with 95m net hydrocarbon pay, including 80.5m net oil, slightly below the earlier ~100m estimate. Two columns may extend beyond mapped closure, so the field could be bigger. Appraisal with at least two tests and a sidetrack is planned. FAR holds 5%.
17 May 2006drilling result▲ Good
Petsec (25% partner) repeats ROC's interim results: 95m net hydrocarbon pay including 80.5m oil at Wei-6-12S-1, with appraisal to follow. Rig was de-manned for Typhoon Chanchu. Duplicates the operator's news. FAR holds 5%.
16 May 2006drilling progress report● Neutral
Operator Victoria Petroleum says production testing continues over the 177m interval of Eagle North-1 horizontal. Results will be released when testing finishes. Up to 1,000 bopd is still anticipated if successful. FAR holds 15%. No result yet.
16 May 2006drilling progress report● Neutral
Sun Resources says Eagle North-1 is being production tested over 177m after perforating the cased section. Testing is slow because no coiled tubing unit or nitrogen is available. Result to follow; no result yet. FAR holds 15%.
10 May 2006drilling result▲ Good
Horizon (30% partner) repeats ROC's report of a potentially significant oil discovery at Wei-6-12S-1, with about 100m net oil pay. Duplicates the operator's news; no new information. FAR holds 5%.
10 May 2006drilling result▲ Good
Petsec (25% partner) repeats ROC's report of about 100m net oil pay at Wei-6-12S-1 and a potentially significant discovery. Duplicates the operator's news; no new information. FAR holds 5%.
10 May 2006drilling result▲ Good
FAR relays ROC's report of a potentially significant oil discovery at Wei-6-12S-1 (FAR 5%), with about 100m net oil pay. CNOOC may take up to 51% of any development, diluting partners pro rata. Kakwa is at 3,847m, nearing the liner point, with Wabamun results likely within two weeks.
10 May 2006drilling result▲ GoodMajor
ROC says early logs show Wei-6-12S-1 is a potentially significant oil discovery, with about 100m of net oil pay, above the pre-drill expectation. The joint venture is weighing immediate appraisal. This turns the earlier oil shows into a discovery; FAR holds 5%.
8 May 2006drilling progress report● Neutral
Wei-6-12S-1 reached total depth of 2,535m, having drilled about 528m of sand-shale-silt with oil and wet gas shows. Logs are being run, and commercial significance is not yet known. FAR holds 5%.
8 May 2006drilling progress report● Neutral
Operator confirms Eagle North-1 drilling stopped at 4,386m due to running sands, short of the planned 4,600m. Production testing of 177m of oil sand will take four to seven days. Up to 1,000 bopd is still anticipated. FAR holds 15%.