Past year: ▼ 22%(28.0c – 62.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Nov 2007drilling progress report● Neutral
This is Emerald's announcement, not FAR's. It repeats the operator's report that the rig left Stokes Bay-1 on 6 November and Nullara testing resumes in one to two weeks. Fluids so far still appear to be drilling mud.
5 Nov 2007drilling progress report● Neutral
This is ARC's announcement, not FAR's. Operator reports a flow test began 4 November at 3,000-4,000 barrels of fluid a day, but recovered fluid appears to be drilling mud and no hydrocarbons have been seen. Test continues until formation fluids appear.
5 Nov 2007drilling progress report● Neutral
This is Pancontinental's announcement, not FAR's. It repeats the operator's report that the Stokes Bay-1 flow test is running at 3,000-4,000 barrels of fluid a day, recovered fluid appears to be drilling mud, and no hydrocarbons have been seen. FAR holds 8%.
5 Nov 2007drilling progress report● Neutral
This is Emerald's announcement, not FAR's. It repeats the operator's report that fluids recovered in the Stokes Bay-1 flow test appear to be part of the 12,000 barrels of drilling fluid lost. It will advise when formation fluids are identified.
5 Nov 2007drilling progress report● Neutral
This is Empire's announcement, not FAR's. It passes on the operator's flow-test report: fluids so far appear to be drilling mud and no hydrocarbons have been observed. It will advise when formation fluids are identified.
1 Nov 2007drilling progress report● Neutral
This is ARC's announcement, not FAR's. Operator reports Stokes Bay-1 deepened to 2,777 m with continued mud losses and gas peaks up to 10%. It recommends completing the well within two days to test the Nullara.
1 Nov 2007drilling progress report● Neutral
FAR (8%) reports Stokes Bay-1 was deepened to 2,777 m with persistent but now controlled mud losses and gas shows. The operator recommends completing the well, within two days, to test the Nullara. No flow results yet.
1 Nov 2007drilling progress report● Neutral
This is Pancontinental's announcement, not FAR's. It repeats the operator's report: Stokes Bay-1 deepened to 2,777 m with continued mud losses and gas peaks up to 10%. The well will be completed for a flow test rather than an open-hole test.
1 Nov 2007drilling progress report● Neutral
This is Emerald's announcement, not FAR's. It repeats the operator's report: Stokes Bay-1 deepened to 2,777 m, mud gas up to 10%, and the well will be completed as a potential gas producer from the Nullara. Emerald contributed its 12.75%.
1 Nov 2007drilling progress report● Neutral
This is Empire's announcement, not FAR's. Empire reports mud gas peaks interpreted as 97% methane and fluid inflows up to 4 barrels a minute in Stokes Bay-1. It says it can back in to its 14.8% Nullara interest by paying a penalty from production.
25 Oct 2007drilling progress report● Neutral
This is ARC's announcement, not FAR's. Operator reports logging at 2,755 m: some Anderson zones show potential oil saturation, the Nullara has vugular porosity but no fluid indication. It will run 7-inch casing before testing the Nullara first.
25 Oct 2007drilling progress report● Neutral
This is Emerald's announcement, not FAR's. It repeats the operator's report: 7-inch casing to be run to test the Nullara lost-circulation zone, then the Lower Anderson sands. No fluid type is yet known. Emerald contributed its 12.75%.
25 Oct 2007drilling progress report● Neutral
FAR (8%) reports Stokes Bay-1 logging is done at 2,755 m and casing will be run before testing the Nullara. Anderson zones show possible oil saturation needing testing; Nullara fluid type remains unknown because of mud losses.
25 Oct 2007drilling progress report● Neutral
This is Empire's announcement, not FAR's. The JV will run 7-inch casing in Stokes Bay-1 to test the Nullara lost-circulation zone first, then the Anderson oil shows. Logs show no fluid information for the Nullara due to mud losses.
25 Oct 2007drilling progress report● Neutral
This is Pancontinental's announcement, not FAR's. It repeats the operator's report that Stokes Bay-1 is at 2,755 m, logs show modest Anderson oil potential, and further mud losses occurred in the Nullara with no fluid indication. Casing to be run before testing.
24 Oct 2007drilling progress report▲ Good
FAR (34%, lead participant) says 3D seismic acquisition over 50 square miles at NE Waller is about half done, with data quality excellent. 22,216 gross acres are leased. Prospects are expected by December 2007; drilling is planned for 2008 with >50 BCFE potential.
24 Oct 2007drilling result▲ GoodMajor
The Lindsey 109A #1R sidetrack (FAR 4.64%) logged 20 ft of oil pay and will be completed for production. Separately, a rig is contracted for South Grosse Tete's Schwing #2, a 14,500 ft well (FAR 5% shallow, 17.7% deep) following the dry Schwing A-1, with US$6m estimated cost.
18 Oct 2007drilling progress report● Neutral
This is Emerald's announcement, not FAR's. It repeats the operator's report of Anderson oil and gas shows, deepening to 2,755 m, and total mud loss in the Nullara. Emerald holds 12.75% in the deeper section.
18 Oct 2007drilling progress report● Neutral
This is Pancontinental's announcement, not FAR's. It repeats the operator's report: Stokes Bay-1 reached 2,589 m in the Anderson, was deepened to 2,755 m, and lost mud returns in the Nullara. Pancontinental (10%) participates in the deepening.
18 Oct 2007drilling progress report▲ Good
This is ARC's announcement, not FAR's. Stokes Bay-1 hit its Anderson target at 2,589 m with elevated gas and minor oil shows, then was deepened to 2,755 m into the Nullara carbonates, where total mud loss occurred. FAR 8% joined the deepening.
18 Oct 2007drilling result▲ GoodMajor
FAR (8%) reports Stokes Bay-1 found gas and minor oil shows in the lower Anderson Formation. It joined the deepening to 2,755 m, where total mud loss indicates a porous, permeable zone. Logging and possible testing follow.
18 Oct 2007drilling progress report● Neutral
This is Empire's announcement, not FAR's. Empire reports oil and gas shows in two lower Anderson sands and wants to test them. It went non-consent on the deepening to the Nullara, calling that play very high risk.
11 Oct 2007drilling progress report● Neutral
FAR (8%) reports Stokes Bay-1 is at 1,841 m, preparing to drill ahead after a bit change. The well targets the Point Torment-1 gas accumulation, about 90 m updip of Valentine-1. No new results.
11 Oct 2007drilling progress report● Neutral
This is Empire's announcement, not FAR's. It summarises Valentine-1 as having excellent Anderson gas shows, possibly at the edge of the accumulation. Empire says deepening Stokes Bay-1 to the Nullara carbonates is under JV consideration.
11 Oct 2007drilling progress report● Neutral
This is Emerald's announcement, not FAR's. It repeats the operator's drilling report: Stokes Bay-1 at 1,841 m after a bit change and stuck pipe, no hydrocarbon indications. No new results.
11 Oct 2007drilling progress report● Neutral
This is ARC's announcement, not FAR's. Operator reports Stokes Bay-1 drilled to 1,841 m after a stuck-pipe incident and bit change, with no hydrocarbon indications. Planned depth is about 2,505 m.
11 Oct 2007drilling progress report● Neutral
This is Pancontinental's announcement, not FAR's. It repeats the operator's report that Stokes Bay-1 is at 1,841 m after a stuck-pipe incident and bit change. No new results.
4 Oct 2007drilling spud● Neutral
This is Empire's announcement, not FAR's. It repeats that Stokes Bay-1 spudded on 3 October and is at 1,226 m toward 2,505 m. Empire maps it about 150 m updip of the Valentine gas shows and sees possible oil as well as gas.
4 Oct 2007drilling spud▲ GoodMajor
Operator ARC reports Valentine-1 was plugged and Stokes Bay-1 was sidetracked on 3 October from 975 m; it is drilling at 1,226 m toward about 2,500 m. Target is about 90 m updip of the strong Valentine gas shows.
4 Oct 2007drilling spud▲ GoodMajor
FAR (8%) reports Stokes Bay-1 was sidetracked from Valentine-1 at 975 m on 3 October and is drilling ahead at 1,226 m toward about 2,500 m. It targets the gas accumulation found at Point Torment-1 in 1992 (4.3 mmcfd). FAR calls the Valentine shows very positive.
