13 Feb 2008drilling spud● Neutral
Partner Petsec repeats the operator's report that Wei 6-12E-1 began drilling 12 February, targeting about 2,520 m. Nothing new for Horizon.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Jan 2008drilling result▼ BadMajor
Wei 6-12W-1 dry hole: drilled to 2,333 m, oil shows were not commercial and the well is being plugged. The rig moves to Wei 6-12E-1, which is independent of this result. First failure of the four-well programme on Block 22/12 (Horizon 30%).
29 Jan 2008drilling result▼ Bad
Partner Petsec repeats that Wei 6-12W-1 found no commercial hydrocarbons and was plugged. Nothing new for Horizon.
29 Jan 2008drilling result▼ Bad
Operator ROC confirms Wei 6-12W-1 found no hydrocarbons and is abandoned; the rig moves to Wei 6-12E-1. Horizon's own release described oil shows as non-commercial. Duplicates Horizon's news.
29 Jan 2008drilling result▼ Bad
Partner FAR repeats the operator's report that Wei 6-12W-1 found no hydrocarbons; the rest covers FAR's own Louisiana well. Nothing new for Horizon.
23 Jan 2008drilling progress report● Neutral
Operator reports Wei 6-12W-1 has set casing at 1,837 m and is drilling at 2,106 m toward a target depth of 2,425 m. No result yet.
16 Jan 2008drilling progress report● Neutral
Operator reports Wei 6-12W-1 drilling at 1,684 m, planning to reach 1,860 m to set the next casing. Routine progress, no result.
9 Jan 2008drilling progress report● Neutral
Partner FAR repeats the operator's Wei 6-12W-1 casing update; the rest concerns FAR's own Louisiana well, unrelated to Horizon. No result.
9 Jan 2008drilling progress report● Neutral
Partner Petsec repeats the operator's update: casing run to 800 m on Wei 6-12W-1, preparing blowout preventer testing. No result.
9 Jan 2008drilling progress report● Neutral
Operator ROC reports Wei 6-12W-1 is preparing to run casing to 800 m. Routine progress, no result.
2 Jan 2008drilling spud● Neutral
Joint venture partner Petsec repeats the operator's announcement that Wei 6-12W-1 has spudded in Block 22/12. No new information for Horizon.
2 Jan 2008drilling spud● Neutral
Joint venture partner FAR repeats the operator's announcement that Wei 6-12W-1 has spudded in Block 22/12. No new information for Horizon.
2 Jan 2008drilling spud● NeutralMajor
Horizon confirms the Wei 6-12W-1 well started 1 January 2008, about two weeks late, the first of four Block 22/12 wells (30%). Target depth about 2,425 m; drilling at 560 m. 2P reserves already identified are quoted as 50-60 million barrels.
2 Jan 2008drilling spud● Neutral
Operator ROC announces Wei 6-12W-1 spudded 1 January 2008 in Block 22/12 (Horizon 30%), about two weeks late after rig equipment faults. Targets about 2,425 m. Programme expected to finish by end of March quarter. Duplicates Horizon's own release.
30 Nov 2007drilling scheduled▲ Good
Four-well Block 22/12 exploration programme (Horizon 30%) to start mid-December 2007 with Wei 6-12W-1. Prospects hold over 200 million barrels of oil-in-place; ODP targeted for end February 2008. Continues the November rig plan.
30 Jan 2007resource reserve update● Neutral
Partner FAR (5% holder) repeats ROC's appraisal report for Wei 6-12 South and Wei 6-12: 19 MMBO most likely, 27 MMBO upside, with a final investment decision expected 2H 2007. Re-release of operator news already reported.
30 Jan 2007resource reserve update▲ GoodMajor
Operator ROC's appraisal report puts recoverable oil at Wei 6-12 South and Wei 6-12 at 19 MMBO most likely, 27 MMBO upside (Horizon holds 30%). Design work leads to a final investment decision in 2H 2007, with first oil possibly by 2009. This firms up the Wei discovery's size.
1 Aug 2006drilling result▲ GoodMajor
ROC reports the second sidetrack at Wei 6-12S-1 (TD 2,950m) found four oil sands, 16m net pay, over 45m downdip and outside mapped closure. Middle and Lower sands were water-wet downdip, as expected. Resolves the pending sidetrack result: encouraging to as expected.
1 Aug 2006drilling result▲ Good
Partner Petsec (25%) repeats ROC's second-sidetrack result at Wei-6-12S-1: four downdip oil sands with 16m net pay. Re-release of operator news already reported.
1 Aug 2006drilling result▲ Good
Partner FAR (5%) repeats ROC's second-sidetrack result at Wei-6-12S-1: four downdip oil sands with 16m net pay. Re-release of operator news already reported.
1 Aug 2006drilling result▲ Good
Horizon relays ROC's sidetrack result at Wei 6-12 South (30%): four oil sands with 16m net pay downdip, outside mapped closure, and the Upper Sands split into as many as seven separate reservoirs. Commercial decision still pending analysis.
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.