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.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
20 Apr 2006drilling scheduled● Neutral
Partner Petsec repeats that the Wei 6-12-S-1 well will start next week, testing a prospect with 10 to 20 million barrels of potential. Re-release of known information from a partner, not Horizon's own news.
19 Apr 2006drilling scheduled● Neutral
Operator ROC reported the Wei-6-12-S-1 well on Block 22/12, where Horizon holds 30%, was due to start drilling the following week and take about 21 days. The release also covered ROC's other wells, including Jacala-1, which had shown no obvious hydrocarbons so far.
12 Apr 2006drilling progress report● Neutral
AMI-1 reached 8,630 feet and found a further hydrocarbon-bearing zone with high gas, at higher pressure needing heavier mud. The drill string stuck again and was backed off at 8,334 feet.
5 Apr 2006drilling progress report● Neutral
Seven inch casing set at 7,950 feet, leaving the 219 feet gross / 74 feet net pay behind pipe for later completion. The rig was preparing to drill on toward the deeper target.
29 Mar 2006drilling result▲ GoodMajor
AMI-1 logs indicate a preliminary 219 feet gross / 74 feet net pay in three zones, with oil of 34-38 degrees API in cores. The drill string then stuck and was backed off; the operator will drill around it.
22 Mar 2006drilling progress report▲ Good
AMI-1 at 7,863 feet hit the shallower targets with strongly elevated gas readings and fluorescence over 7,700 to 7,773 feet. Significance will be known after logging; lost circulation was also managed.
14 Mar 2006drilling progress report● Neutral
AMI-1 was drilling at 6,960 feet with target horizons still to be reached. About 12 more days expected to reach target depth.
7 Mar 2006drilling progress report● Neutral
AMI-1 reached 4,128 feet; progress was slowed by the rig contractor replacing equipment at its own cost. About 17 more days expected to reach target depth.
28 Feb 2006drilling progress report● Neutral
Bayou Choctaw AMI-1 well was drilling at 2,670 feet, with casing set at 2,355 feet. No results yet; target depth is 9,100 feet.
20 Feb 2006drilling spud● Neutral
The first of three Bayou Choctaw wells (Australian Mineral Interests No. 1) has spudded, targeting 1.8 million barrels of potential updip of existing production. Horizon holds 14.0% in this well and 19.8% in the next two.