Past year: ▼ 83%(23.5c – 1.52 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Feb 2006drilling progress report● Neutral
Eagle North-1 reached the target Gatchell sandstone at 4,162 metres as predicted, with a gas show (peak 42 units over background 8) but no oil fluorescence; the operator says drilling conditions suppress oil shows. Wireline logs are needed to judge oil potential.
13 Feb 2006drilling progress report● Neutral
First Australian Resources reports Eagle North-1 at 4,136 metres (13,570 feet), drilling ahead toward target. Repeats known background and interest table; no result.
13 Feb 2006drilling progress report● Neutral
Sun Resources says Eagle North-1 was at 4,136 metres, with target and final depth of 4,206 metres expected within 5-6 hours, then logging and coring. Repeats background; no result.
13 Feb 2006drilling progress report● Neutral
Operator reports Eagle North-1 drilling ahead at 4,136 metres toward the 4,148-metre target and 4,206-metre total depth. No result yet for Lakes' 15%.
10 Feb 2006drilling progress report● Neutral
Operator reports Eagle North-1 drilling ahead at 3,836 metres toward the 4,145-metre target. No result yet for Lakes' 15%.
10 Feb 2006drilling progress report● Neutral
Sun Resources says Eagle North-1 was at 3,848 metres, drilling ahead, with target and total depth of 4,206 metres expected at the weekend. No result.
9 Feb 2006drilling progress report● Neutral
Sun Resources says Eagle North-1 was at 3,696 metres, drilling ahead, with target and total depth still expected by the end of the week. No result.
9 Feb 2006drilling progress report● Neutral
Operator reports Eagle North-1 drilling ahead at 3,696 metres in the sidetrack toward the 4,145-metre target. No result yet.
8 Feb 2006drilling progress report● Neutral
Sun Resources says Eagle North-1 was at 3,627 metres, running back in after removing the directional motor. Target and total depth are still expected by the end of the week; no result.
8 Feb 2006drilling progress report● Neutral
Operator reports Eagle North-1 at 3,627 metres, running back in with a new bit to drill ahead toward 4,145 metres. No new result for Lakes' 15%.
7 Feb 2006drilling progress report● Neutral
Sun Resources says Eagle North-1 reached 3,564 metres in the sidetrack, with a trip planned at 3,627 metres to remove the directional motor. Total depth of 4,206 metres is expected at the end of the week; no result.
7 Feb 2006drilling progress report● Neutral
Operator reports Eagle North-1 drilling ahead in the sidetrack at 3,565 metres toward the 4,145-metre target. Repeats known background; no result.
6 Feb 2006drilling progress report● Neutral
Operator reports Eagle North-1 at 3,407 metres in the new sidetrack, running back in the hole to resume drilling toward 4,145 metres. Mostly repeated background; no result.
6 Feb 2006drilling progress report● Neutral
Sun Resources says Eagle North-1 was at 3,407 metres in the new sidetrack, running back in to resume drilling toward the 4,145-metre target. Repeats background and interest table; no result.
6 Feb 2006drilling progress report● Neutral
First Australian Resources reports Eagle North-1 drilled the new sidetrack to 11,371 feet and is preparing to resume drilling. Its Louisiana Schwing A-1 well found non-oil-bearing sands and will be plugged. Nothing new for Lakes' 15%.
3 Feb 2006drilling progress report● Neutral
Operator Victoria Petroleum says Eagle North-1 is pulling out of the hole to prepare to sidetrack from 3,407 metres after the cement plug was set. Target remains 4,145 metres; no result yet for Lakes' 15%.
2 Feb 2006drilling progress report● Neutral
First Australian Resources says Eagle North-1 is preparing a new sidetrack after the first one hit the original wellbore obstruction. Also covers its Louisiana wells; nothing new for Lakes' 15%.
2 Feb 2006drilling progress report● Neutral
Operator says cement for the second Eagle North-1 sidetrack is setting before the well is re-entered. Well now planned at 24 days to reach 4,206 metres; no result.
1 Feb 2006drilling progress report▼ Bad
Victoria Petroleum reports the Eagle North-1 sidetrack drilled back into the original wellbore, so a new cement plug and a second sidetrack are needed. A further setback for Lakes' 15% well; no result.
1 Feb 2006drilling progress report▼ Bad
Sun Resources says the first Eagle North-1 sidetrack deviated into the original junked hole at 3,598 metres, so the sidetrack is being repeated. Target depth is now expected around 7-8 February, later than earlier dates.
31 Jan 2006drilling progress report● Neutral
Sun Resources says Eagle North-1 is off bottom in the sidetrack, cleaning the hole before drilling ahead from 3,459 metres. Target depth is now expected later in the week; no result.
30 Jan 2006drilling progress report● Neutral
Operator reports the Eagle North-1 sidetrack drilled to 3,459 metres, and the crew is changing the drill bit and assembly to continue toward the 4,145-metre target. Progress after the stuck pipe; no oil result.
30 Jan 2006drilling progress report● Neutral
Partner First Australian Resources reports Eagle North-1 preparing to drill ahead in the sidetrack at 11,285 feet, and its Schwing A-1 Louisiana well at 10,984 feet. Nothing new for Lakes' 15%.
27 Jan 2006drilling progress report▼ Bad
Sun Resources says Eagle North-1 is still at 3,625 metres while a cement plug is set to sidetrack. Target depth is now expected late next week, with drilling to restart at the weekend. Delay continues; no result.
27 Jan 2006drilling progress report● Neutral
Victoria Petroleum says the remaining drill pipe in Eagle North-1 was retrieved and a cement plug is being set before sidetracking from about 3,500 metres. Drilling should resume over the weekend; no new result.
25 Jan 2006drilling progress report▼ Bad
Sun Resources reports Eagle North-1 pipe stuck at 3,625 metres; the company will leave about 60 feet of pipe, plug with cement and sidetrack, with drilling to resume within 48 hours. A setback for the well Lakes holds 15% of; no oil result yet.
25 Jan 2006drilling progress report▼ Bad
Operator Victoria Petroleum confirms Eagle North-1 pipe stuck at 3,625 metres; it will cement and sidetrack from about 3,500 metres, resuming in roughly 48 hours. Repeats the hoped-for 1,000 barrels a day from the horizontal leg; no result.
24 Jan 2006drilling progress report● Neutral
Sun Resources relays that Eagle North-1 was at 3,540 metres, with target depth expected about 25 January. Repeats background and the 15% interest table; no new result for Lakes.
24 Jan 2006farm in farm out completion● Neutral
Gippsland Offshore Petroleum says it has earned 51% of the PEP-155 Marlo Block after contributing $400,000 for Patrobus-1 and Banjo-1A. Lakes keeps 46%; GOP plans a well there in 2008. Completes the farm-in reported earlier.
24 Jan 2006drilling progress report● Neutral
Operator reports Eagle North-1 drilling at 3,540 metres toward the 4,145-metre target. Background text is unchanged; no new result for Lakes' 15%.
