Past year: ▼ 83%(23.5c – 1.52 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 Feb 2006drilling progress report● Neutral
First Australian Resources (15% in Eagle) repeats the operator's update: casing run to 4,217 m, up to 13.4 m net oil pay, five-day flow test planned. Also reports a Louisiana barge rig arriving for its SL328 #8 well. No new Eagle result.
20 Feb 2006drilling progress report▲ Good
Operator Victoria Petroleum says 7 inch casing is cemented at 4,217 m and about four days of preparation remain before flow testing Eagle North-1. Logs now show up to 13.4 m net oil pay; a 300 m horizontal leg could flow up to 1,000 bopd. Lakes holds 15%.
20 Feb 2006drilling progress report▲ Good
Sun Resources says Eagle North-1 is cased at 4,217 metres and being prepared for a five-day flow test. Further log analysis now indicates up to 13.4 metres of net oil pay, up from 7 metres earlier reported.
17 Feb 2006drilling result▲ Good
Sun Resources reports first-pass log evaluation of Eagle North-1 shows about 7 metres of net oil pay between 4,136 and 4,157 metres, similar to Mary Bellocchi-1. Casing and testing follow.
17 Feb 2006drilling result▲ Good
Lakes relays the operator's finding that Eagle North-1 logs show oil saturation over 21 metres with 7 metres net pay, resembling Mary Bellocchi-1. Lakes holds 15%. Flow testing is still to come.
17 Feb 2006drilling result▲ GoodMajor
Operator says Eagle North-1 logs indicate oil saturation over a 21-metre interval (4,136-4,157 m) with 7 metres net pay, similar to Mary Bellocchi-1. The well will be cased and tested over about 8 days. A positive early sign for Lakes' 15%, still to be tested.
16 Feb 2006drilling progress report● Neutral
Eagle North-1 reached total depth of 4,219 metres and is pulling out to run wireline logs, with results expected in 12-18 hours. Oil content of the target sand is still unconfirmed.
15 Feb 2006drilling spud▲ GoodMajor
Lakes started drilling Loy Yang-2 in PEP 166, targeting tight gas zones seen in Loy Yang-1A, to about 1,200 metres in roughly 20 days. Lakes funds the well and fracture stimulation at 100%, lifting its interest in the Loy Yang Block to 75%.
15 Feb 2006drilling progress report● Neutral
Operator reports Eagle North-1 at 4,184 metres, preparing to drill ahead after intersecting the Gatchell target. Repeats the gas show and awaits wireline logs; no result.
14 Feb 2006drilling progress report● Neutral
Sun Resources repeats that Eagle North-1 hit the Gatchell target at 4,162 metres with a gas show but no oil fluorescence, which it attributes to drilling conditions. Logging to follow; no result yet for Lakes' 15%.
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.
