30 Aug 2007drilling progress report● Neutral
This is Emerald's announcement, not FAR's. It repeats the operator's Valentine-1 report: drilling at 2,340 m, with a minor gas show near 2,250 m awaiting logging. No new results.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Aug 2007drilling progress report● Neutral
This is ARC Energy's announcement, not FAR's. Valentine-1 is drilling at 2,340 m. Elevated gas readings over 2-3 m near 2,250 m are in a non-primary zone, and their significance awaits logging at total depth.
30 Aug 2007drilling result● NeutralMajor
Lindsey 109A #1R (FAR 4.64%) reached 12,280 ft and tested oil with no water over a 6 ft net interval, but permeability is low. A sidetrack nearer the 1997 discovery well is planned and FAR will participate. Kicker's Marceaux #1 (FAR 5%) began oil sales, about 4,500 barrels in 6 days.
30 Aug 2007drilling progress report● Neutral
This is Pancontinental's announcement, not FAR's. It repeats the gas show near 2,250 m in Valentine-1 and says the primary target is 4-5 days away if drilling rates hold. It calls the show encouraging, as it is not the primary target.
24 Aug 2007flow test result▲ GoodMajor
After fracture treatment, Kicker's Marceaux #1 (FAR 5%, 3.75% after payout) tested up to 2,520 barrels a day while unloading fluid. It was making 624 barrels of oil a day, no water and no sand, on an 8/64 inch choke. Sales could start as early as the next day, resolving the sand problem seen in June.
23 Aug 2007drilling progress report● Neutral
This is Empire's announcement, not FAR's. Valentine-1 is at 1,566 m in a section where no hydrocarbons are expected. Empire repeats its estimates of up to 1,200 BCF of gas or 200 million barrels of oil.
23 Aug 2007drilling progress report● Neutral
This is ARC Energy's announcement, not FAR's. Valentine-1 has 9 5/8 inch casing set at 808 m and is drilling ahead at 1,566 m. No hydrocarbon indications reported.
23 Aug 2007drilling progress report● Neutral
Lindsey 109A #1R (FAR 4.64%) reached 12,280 ft, with logs and an open hole drill stem test planned within 24 hours. Kicker's Marceaux #1 (FAR 5%) is being fracture treated and is unloading fluid. Valentine-1 is drilling at 1,566 m.
23 Aug 2007drilling progress report● Neutral
This is Emerald's announcement, not FAR's. It repeats the Valentine-1 drilling report: drilling ahead at 1,566 m, with no hydrocarbon indications. No new results.
23 Aug 2007drilling progress report● Neutral
This is Pancontinental's announcement, not FAR's. Valentine-1 (FAR 8%) is drilling at 1,566 m, with the target about 3,222 m. Pancontinental says the well is on trajectory and close to its 25-day timeline.
16 Aug 2007drilling progress report● Neutral
This is Emerald's announcement, not FAR's. It repeats the Valentine-1 drilling report: 644 m, drilling ahead, no hydrocarbon indications. No new results.
16 Aug 2007drilling progress report● Neutral
Lindsey 109A #1R (FAR 4.64%) is drilling at 11,425 ft toward 12,300 ft. Valentine-1 (FAR 8%) is drilling at 644 m, with no hydrocarbon indications. No new results.
16 Aug 2007drilling progress report● Neutral
This is Pancontinental's announcement, not FAR's. Valentine-1 (FAR 8%) is drilling ahead at 644 m, with 13 3/8 inch casing set at 112 m. No hydrocarbon indications.
16 Aug 2007drilling progress report● Neutral
This is Empire Oil & Gas's announcement, not FAR's. It repeats the operator's report of Valentine-1 drilling ahead at 644 m with no hydrocarbon indications. No new results.
16 Aug 2007drilling progress report● Neutral
This is ARC Energy's announcement, not FAR's. As operator it reports Valentine-1 drilling ahead at 644 m with no hydrocarbon indications. No new results.
13 Aug 2007drilling spud● Neutral
This is Pancontinental's announcement, not FAR's. It repeats that Valentine-1 spudded 12 August, with Stokes Bay-1 to be sidetracked afterwards. FAR's final interest is 8%. Same news as the FAR, ARC, Empire and Emerald releases.
13 Aug 2007drilling spud● NeutralMajor
This is Empire Oil & Gas's announcement, not FAR's. Valentine-1 in the Canning Basin spudded 12 August (FAR 8%), ARC operator. The well targets up to 200 million barrels, and Stokes Bay-1 will be sidetracked from it afterwards. This starts the July-programme wells FAR flagged.
13 Aug 2007drilling spud● Neutral
This is Emerald's announcement, not FAR's. It repeats that Valentine-1 spudded 12 August, with Stokes Bay-1 to follow by sidetrack. FAR holds 8% after the farm-in earning program. No new well results.
13 Aug 2007drilling spud● Neutral
This is ARC Energy's announcement, not FAR's. It repeats that Valentine-1 spudded on 12 August, with FAR holding 8% after farm-ins. Stokes Bay-1 will be drilled by sidetrack straight after. Same news as the Empire release.
13 Aug 2007drilling spud▲ GoodMajor
FAR confirms Valentine-1 in the Canning Basin spudded 12 August (FAR 8%), targeting the Virgin Hills Formation at about 3,222 m. Stokes Bay-1 follows by sidetrack. Empire cites up to 200 million barrels of oil, or up to 1,200 BCF of gas, if the structure is filled.
9 Aug 2007drilling progress report● Neutral
Lindsey 109A #1R (FAR 4.64%) is drilling ahead at 9,510 ft toward a planned 12,300 ft. No new results.
31 July 2007flow test result▲ Good
This is Sun Resources' announcement, not FAR's. Lake Long #9 flowed 2.364 mmcfd and 55 barrels of condensate a day, no water, on a restricted test. The operator expects 4 mmcfd and about 100 barrels, with sales from late August.
31 July 2007flow test result▲ GoodMajor
Lake Long #9 (FAR 10.1875%) flowed 2.36 mmcfd of gas and 55 barrels of condensate a day, no water, on a restricted test. The operator expects about 4 mmcfd and 100 barrels once a platform and flowlines are done in August. Lindsey well is at 6,815 ft.
25 July 2007drilling progress report● Neutral
This is Sun Resources' announcement, not FAR's. Lake Long #9 completion continues; a production platform is being built and the well is to be perforated and tested. It could be producing in 2-3 weeks. No new results.
25 July 2007drilling progress report● Neutral
Lindsey 109A #1R (FAR 4.64%) ran casing to 4,755 ft. Lake Long #9 is on track to be tested and producing in 2-3 weeks. Kicker Marceaux #1 needs a cement squeeze and re-perforation before fracture stimulation, contracted for 31 July.
19 July 2007drilling progress report● Neutral
Lindsey 109A #1R (FAR 4.64%) is drilling at 4,173 ft; the operator estimates 270,000 barrels recoverable. Lake Long #9 completion continues with a smaller rig due next week. No new results.
19 July 2007drilling progress report● Neutral
This is Sun Resources' announcement, not FAR's. Lake Long #9 completion continues: production tubing is being run, and a smaller workover rig will clean up, perforate and test the Middle Hollywood pay. Expected rate remains 3-4 mmcfd. No new results.
11 July 2007drilling progress report● Neutral
Lindsey 109A #1R (FAR 4.64%) spudded 5 July, drilling at 2,348 ft. Lake Long #9 is being completed on 24 ft of Middle Hollywood pay; the Lower Hollywood looks water-wet. Kicker's Marceaux #1 completion work has begun, with fracture stimulation and flow back testing to follow.
11 July 2007drilling progress report● Neutral
This is Sun Resources' announcement, not FAR's. Lake Long #9 is being completed on 24 ft of Middle Hollywood pay; the Lower Hollywood appears water-wet on logs and is plugged off. Expected rate is 3-4 mmcfd plus condensate, with sales after flow testing.
5 July 2007drilling progress report● Neutral
Lake Long #9 (FAR 10.1875%) drilled through the Lower Hollywood sands with gas shows and is being conditioned for electric logs. Its significance is unknown until logged. Total depth is given as 13,284 ft; Upper and Middle pay is already confirmed.