28 July 2006other● Neutral
Administrative notice: Horizon's share registry moves from Link Market Services to Registries Limited, effective 7 August 2006. No effect on holdings.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 July 2006drilling progress report● Neutral
Horizon relays ROC's update: the second Wei 6-12 South sidetrack (Horizon 30%) is at 2,860m, with total depth extended to 2,930m. Logging and initial analysis are expected next week. No results yet.
26 July 2006drilling progress report● Neutral
ROC says the second sidetrack was at 2,860m and its target depth was increased to 2,930m so all targets are penetrated. Logging follows, with initial analysis expected next week. No results yet.
19 July 2006drilling progress report● Neutral
ROC says the second sidetrack (started 13 July) was at 2,217m, about 300m from the discovery well and aimed at downdip oil legs, heading to 2,849m. Results are expected next week; the reservoirs are expected to be water-bearing in the lower part.
19 July 2006drilling progress report● Neutral
Horizon relays ROC's update: the second Wei 6-12 South sidetrack (Horizon 30%) is a step-out drilling towards 2,849m, hoping to find downdip oil. Outcome expected next week. No new Horizon information.
19 July 2006drilling progress report● Neutral
Partner Petsec (25%) repeats ROC's update on the second Wei-6-12S-1 sidetrack, at 2,217m and drilling towards 2,849m, with results next week. Re-release of operator news.
12 July 2006drilling progress report● Neutral
Partner FAR (5%) repeats ROC's first-sidetrack result and second-sidetrack plan at Wei-6-12S-1. The rest covers FAR's Canadian and US wells, unrelated to Horizon. Re-release of known information.
12 July 2006drilling progress report● Neutral
Partner Petsec (25%) repeats ROC's update: the first Wei-6-12S-1 sidetrack is done with cores recovered, and a second step-out sidetrack is due to start. Re-release of operator news.
12 July 2006drilling progress report● Neutral
ROC says the first sidetrack at Wei-6-12S-1, about 50m from the discovery, reached 2,530m and was plugged after recovering five cores of similar quality. A second, step-out sidetrack with an exploration element starts this week, finishing in August.
12 July 2006drilling progress report● Neutral
Horizon relays ROC's news that the first Wei 6-12 South sidetrack (Horizon 30%) cored reservoir similar to the discovery well. A second step-out sidetrack starts this week, with weekly updates. No new Horizon information.
13 June 2006well test result▲ GoodMajor
ROC reports production tests of three zones at Wei-6-12S-1 all flowed oil, up to a combined 5,750 barrels a day (1,725, 2,575, 1,450). No water was produced in the tests. This supports the discovery (Horizon 30%); a first sidetrack starts this week.
13 June 2006well test result▲ GoodMajor
Horizon relays ROC's results: three zones at Wei 6-12 South (Horizon 30%) all flowed oil, up to a combined 5,750 barrels a day. Sidetrack coring starts this week, and a second sidetrack is expected afterwards. Commercial viability is not yet decided.
13 June 2006well test result▲ Good
Partner FAR (5%) repeats ROC's Wei-6-12S-1 test results of up to 5,750 barrels a day combined, with a sidetrack to follow. Re-release of known information; the rest covers FAR's Canadian Kakwa well, unrelated to Horizon.
13 June 2006well test result▲ Good
Partner Petsec (25%) repeats ROC's production test results at Wei-6-12S-1: oil from all three zones, up to 5,750 barrels a day combined, with a coring sidetrack next. Re-release of operator news, not Horizon's own.
24 May 2006drilling scheduled● Neutral
Partner FAR (5%) repeats ROC's plan for production testing at Wei-6-12S-1. The rest covers FAR's Canadian Kakwa well, unrelated to Horizon. Re-release of known information.
24 May 2006drilling scheduled● Neutral
ROC says a three-week production testing programme is about to start at Wei-6-12S-1, testing at least three zones; the well was deepened to 2,650 metres. One or two sidetrack wells may follow; next update expected mid-June 2006. Horizon holds 30%.
24 May 2006drilling scheduled● Neutral
Horizon relays ROC's plan for a three-week production test of the Wei 6-12 South discovery (Horizon 30%), covering at least three zones. Sidetrack wells may follow; next result expected mid-June 2006.
24 May 2006drilling scheduled● Neutral
Partner Petsec (25%) repeats ROC's 24 May plan for a three-week, at least three-zone production test at Wei-6-12S-1 (TD 2,650m), with one or two sidetracks to follow. Re-release of known information; next ROC update mid-June 2006.
17 May 2006drilling result▲ Good
Partner FAR (5%) repeats ROC's interim results for Wei-6-12S-1: 95 metres of net hydrocarbon pay, with appraisal to follow. Re-release of known information from a partner.
17 May 2006drilling result▲ Good
Partner Petsec (25%) repeats ROC's interim results: 95 metres of net hydrocarbon pay including 80.5 metres of net oil at Wei-6-12S-1, with appraisal planned. Re-release of operator news, not Horizon's own.
17 May 2006drilling result▲ GoodMajor
ROC's interim analysis of Wei-6-12S-1 shows three oil columns with 95 metres of net hydrocarbon pay, including 80.5 metres of net oil, which is less than the earlier ~100 metres estimate. Two columns appear to extend beyond mapped closure. Appraisal with production tests and a sidetrack is planned.
10 May 2006drilling result▲ Good
Horizon relays ROC's news that Wei 6-12 South (30%) is a potentially significant oil discovery, with about 100 metres of net oil pay. Immediate appraisal is being considered; field size is not yet known.
10 May 2006drilling result▲ GoodMajor
ROC says initial logs show Wei-6-12S-1 is a potentially significant oil discovery, with about 100 metres of net oil pay over a 500 metre interval, above pre-drill expectations. Confirms the earlier shows; the partners are considering immediate appraisal. Horizon holds 30%.
10 May 2006drilling result▲ Good
Partner Petsec (25%) repeats ROC's report of a potentially significant oil discovery at Wei 6-12 South, with about 100 metres of net oil pay. Re-release of known information, not Horizon's own news.
10 May 2006drilling result▲ Good
Partner FAR (5%) repeats ROC's report of the Wei-6-12S-1 oil discovery with about 100 metres of net oil pay. Re-release of known information; the rest covers FAR's Canadian Kakwa well, unrelated to Horizon.
8 May 2006drilling progress report● Neutral
Horizon passes on ROC's update: Wei 6-12 South (30%) reached 2,535 metres with oil and wet gas shows; logging is next and commercial significance is unknown. Repeats the partner release, no new Horizon information.
8 May 2006drilling progress report● Neutral
ROC reports Wei-6-12S-1 reached total depth of 2,535 metres, with oil and wet gas shows in several sandstones across a 528 metre interval. Commercial significance is unknown until logs are analysed. Horizon holds 30%.
5 May 2006drilling result▲ GoodMajor
ROC reports Wei-6-12S-1 hit a sand with strong oil shows at 1,956 metres and another with very high gas readings. The operator says it is likely to be classed a discovery, but whether it is large enough is unknown.
5 May 2006drilling result▲ Good
Horizon passes on ROC's update: Wei 6-12 South (Horizon 30%) has strong oil shows at 1,956 metres and is likely a discovery. Commercial significance is unknown until total depth and logging.
3 May 2006drilling progress report● Neutral
ROC reports Wei-6-12-S-1 at 1,680 metres, expected to reach the first reservoir target early next week. Partner release with no new result.