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.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.
3 May 2006drilling progress report● Neutral
Wei 6-12 South was drilling at 1,678 metres just above the first target, with casing set. About 10 more days expected to reach 2,530 metres.
28 Apr 2006quarterly activities report▲ Good
March 2006 quarter: A$13.5 million raised for Maari, whose development is progressing. The Wei 6-12 South well is drilling and AMI-1 at Bayou Choctaw was completed as a producer. Lei Dong block evaluation is nearly finished, with a farmout package planned.
27 Apr 2006flow test result▲ GoodMajor
AMI-1 tested at 3.1 million cubic feet a day of rich gas and 60 barrels of oil a day, and will be online in about 2 weeks. The rig was released for poor performance; drilling is hoped to restart by mid-July.
26 Apr 2006drilling spud● Neutral
ROC reports Wei-6-12-S-1 started drilling on 25 April, expected to take about 21 days to 2,530 metres. Horizon holds 30%. The release also reports a dry hole in a separate ROC well.
20 Apr 2006drilling progress report● Neutral
AMI-1 drilling stopped for safety reasons due to pressure problems and the well is being completed on the Cib Haz formation with 219 feet gross / 74 feet net pay. Deeper targets were not reached; two follow-up wells may be drilled.