Past year: ▼ 22%(28.0c – 62.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
5 July 2007drilling progress report● Neutral
This is Sun Resources' announcement, not FAR's. Lake Long #9 drilled through the Lower Hollywood with gas shows to a revised total depth of 13,284 ft; electric logs are next. Upper and Middle pay (13 ft, 29 ft) is confirmed behind casing.
28 June 2007drilling result▲ GoodMajor
Electric logs at Lake Long #9 (FAR 10.1875%) confirm gas pay: 13 ft net in the Upper and 29 ft net in the Middle Hollywood, now behind casing for later production. Drilling continues to the Lower Hollywood. Canning Basin Stokes Bay and Valentine wells are due about late July.
19 June 2007drilling progress report● Neutral
This is Sun Resources' announcement, not FAR's. It reports gas shows in Upper and Middle Hollywood sands at Lake Long #9 (drilling at 12,308 ft), with 26 ft apparent net pay in the Middle. Significance unknown until electric logs. Also covers Sun's Texas wells, not FAR's.
19 June 2007drilling progress report▲ Good
Lake Long #9 (FAR 10.1875%) hit gas shows in the Upper and Middle Hollywood targets, with about 26 ft apparent net pay in the Middle, and is drilling toward the Lower Hollywood. Chairman is optimistic, but significance awaits electric logs.
13 June 2007drilling progress report● Neutral
Lake Long SL 328 #9 (FAR 10.1875%) is at 11,567 ft; shallower shows are likely depleted, with main Hollywood targets below 11,800 ft. New Lindsey 109A #1R re-drill (FAR 4.64%, US$1.5m) planned July; NE Waller 3D (FAR 34%) surveying begins, 16,856 acres leased. Kicker awaits operator advice.
16 May 2007drilling progress report● Neutral
This is Sun Resources' announcement, not FAR's. The Lake Long SL 328 #9 well is drilling at 3,224 ft toward a first casing point at 3,500 ft. No new results; weekly updates continue until target zones are reached.
15 May 2007drilling spud▲ GoodMajor
Lake Long SL 328 #9 (FAR 10.1875%) spudded 12 May and is drilling at 2,100 ft, with about 48 days planned to 13,555 ft. Senegal 3D acquisition ended 28 March (2,089 km2, about US$12.1m); data quality is excellent, with interpretation due to start in Q4 2007.
9 May 2007drilling scheduled● Neutral
This is Sun Resources' announcement, not FAR's. It says the barge rig moves onto the SL 328 #9 Hollywood well this week, with spud expected Friday. It repeats the 21.7 BCF and 760,000 barrel target and FAR's 10.1875% interest.
17 Apr 2007drilling result▲ GoodMajor
Kicker's Marceaux #1 reached 13,264 ft and found 33 ft of net pay in the Alliance 2 and 3 Sands, so production casing is being run (FAR 5%, 3.75% after payout). Bujnoch-Bender #1 is also cased for production, with Rainosek 3 at 50 barrels a day.
11 Apr 2007drilling result▲ GoodMajor
Bujnoch-Bender #1 (FAR 20%) reached 9,000 ft with about 60 ft of net pay, mostly gas, in thin Upper and Middle Wilcox zones; the Lower Wilcox is wet. Kicker's Marceaux #1 recorded gas shows in a primary objective, to be logged at total depth.
4 Apr 2007drilling progress report● Neutral
Bujnoch-Bender #1 (FAR 20%) is drilling at 4,448 ft after spudding 31 March. Kicker's Marceaux #1 has run intermediate casing at 12,024 ft before drilling to the target sands. No new results.
27 Mar 2007drilling scheduled● Neutral
A rig is secured for the Bujnoch-Bender #1 development well at Rainosek, Texas (FAR 20%), to spud about 31 March to 9,100 ft over 16 days. Kicker's Marceaux #1 is at 11,525 ft nearing intermediate casing.
22 Mar 2007drilling progress report● Neutral
Kicker's Marceaux #1 is at 10,820 ft. In Alberta, shot hole drilling is done for the Wild River 3D survey (FAR about 36%), with processed data now expected by mid April rather than end of Q2.
20 Mar 2007drilling progress report▲ Good
The Senegal 3D survey (2,050 km2, FAR 30%) should finish ahead of schedule on 25 March, with data quality described as good to excellent. Petrobras has bought 40% of the adjacent Rufisque Profond block from Edison, which FAR cites as a gauge of regional interest.
13 Mar 2007drilling progress report● Neutral
Kicker's Marceaux #1 (FAR 5%) is drilling ahead at 7,654 ft toward 13,200 ft. No new results.
8 Mar 2007drilling progress report● Neutral
Kicker's Marceaux #1 (FAR 5%) has run casing to 4,015 ft before drilling ahead toward 13,200 ft. No new results.
1 Mar 2007drilling progress report▲ Good
Kicker's Marceaux #1 spudded 28 Feb and is at 395 ft. Clear Prairie 3-8-90-12 (FAR 15%) was drilled to 1,245 m; logs confirm hydrocarbon pay and production casing is run, an early positive for the Canadian program.
21 Feb 2007drilling progress report● Neutral
Rig 172 is on location to spud the Kicker well (FAR 5%) within days, and the Clear Prairie 3-8-90-12 well (FAR 15%) began drilling 19 Feb and is at surface casing. Both continue previously announced plans; no results yet.
15 Feb 2007drilling progress report▲ Good
The MV Symphony has started the Senegal 3D survey, now 2,050 km2 after sharing costs with Edison added 50 km2 to include prospect C1. FAR (30%, Hunt operator) says it plans to keep its equity despite industry interest.
15 Feb 2007drilling scheduled▲ GoodMajor
FAR has acquired a 5% interest in the Kicker Prospect, Vermillion Parish, Louisiana (Sandalwood operator). A 13,200 ft well is expected to spud next week, targeting 22.8 BCF gas and 2.2 million barrels of condensate if both sands succeed; interest falls to 3.75% after payout.
