13 Feb 2008drilling progress report● Neutral
Gas is still being flared at Corella-P11, and pumping started at P16, P14 and Riflebird-P11. Riflebird-E14 was spudded to test the deeper I/J coal sequence and is at 754m. Rain keeps hampering access.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Feb 2008drilling progress report● Neutral
Riflebird-P12 drilling is complete, with pumps due next week. Dewatering continues at four wells; Corella-P16's start is delayed by heavy rain, and minor flooding restricted access to some sites.
23 Jan 2008drilling progress report● Neutral
Dewatering is now under way at Corella-P12 and P14 as well. The rig finished drilling Corella-P16 and is moving to Riflebird-P12.
16 Jan 2008drilling progress report● Neutral
Dewatering restarted at Corella-P11 after floods halted work, and began at Riflebird-P11. Drilling at Corella-P14 is complete, and the rig has moved to Corella-P16.
9 Jan 2008drilling progress report● Neutral
Pumps are being installed at P11, P12 and Riflebird-P11 to continue production testing. Corella-P14 is drilled to 961m and running liner; the rig moves to P16 next. P13 remains suspended.
7 Jan 2008drilling progress report● Neutral
Pilot drilling was not significantly affected by regional flooding. Corella-P14 is above flood levels and drilling in-seam at 771m. Some minor equipment was lost at low-lying sites.
2 Jan 2008drilling progress report▼ Bad
Corella-P13 reached 965m, but a gas influx and loss of pressure collapsed part of the hole and stuck tools. The well is suspended awaiting fishing equipment. The rig moved to P14, and dewatering continues at P11, P12 and Riflebird-P11.
19 Dec 2007drilling progress report▲ Good
Dewatering continues at P11 (about 260 bbls/day), with gas flowing unaided but no rates reported yet. Riflebird-P11 drilled a record 470m in-seam in 24 hours. P12 dewatering has started; P13 and P14 will be drilled over the holidays.
5 Dec 2007drilling progress report● Neutral
Corella-P12, targeting the Tomki seam, is drilling ahead in-seam at 700m. P11 drilling is complete with production testing to start in coming weeks. Other wells unchanged.
28 Nov 2007drilling progress report● Neutral
First pilot well Corella-P11 is fully drilled, with production testing due in coming weeks. Second well P12 is at 430m awaiting a replacement mud-motor. Other wells have 150m casing set.
20 Nov 2007drilling progress report● Neutral
Pilot well Corella-P11 hit the Richmond coal seam at 362m and is nearing its in-seam target. Next is P12, from the same pad, to test the Tomki seam at about 404m. Dewatering starts after both are done.
12 Nov 2007drilling progress report▲ Good
Pilot production drilling has started at North Casino: pre-collars are done on four wells and the ADR 100 rig is drilling Corella-P11 at 215m. Permeability testing at Corella-E7 is complete, with testing at E10 under way.
17 Oct 2007drilling progress report● Neutral
Pilot drilling to start this month: 5 surface-to-inseam wells in the CS Energy joint venture and 3 at South Casino. The core drilling program is complete; testing is due by year end, and more data goes to MHA within a month.
10 Oct 2007drilling spud● Neutral
Pilot well Corella-P16 spudded 8 October, the first surface-to-inseam pilot well, with pre-collar drilling at 29m before the ADR 100 rig arrives. The MSC-06 deepening is postponed so equipment can be redeployed to the pilot program.
3 Oct 2007drilling progress report● Neutral
Weekly report: MSC-06 is awaiting fishing tools to retrieve a parted downhole liner. All other wells remain suspended pending testing. No new results.
26 Sept 2007drilling result● Neutral
Riflebird-E5 reached 810m total depth with 13m of coal core and is suspended pending testing. MSC-06 is circulating before drilling resumes. No new results.
20 Sept 2007drilling progress report● Neutral
Weekly report: MSC-06 awaits fishing tools before deepening. Riflebird-E5 is drilling at 786m with 7.5m of coal core so far. No new results.
17 Sept 2007resource reserve update▲ GoodMajor
MHA lifted PEL 16 2P reserves a further 50% to 194 PJ (182 PJ net to Metgasco), from 129 PJ in July. Management says it is on track for the 660 PJ 2P target within six months; more data is still to go to MHA.
12 Sept 2007drilling progress report● Neutral
Weekly report: old well MSC-06 is being deepened from 670m to about 820m to test deeper coal. Riflebird-E6 finished at 827m with 18m of coal and is suspended. Riflebird-E5 is at 400m.
5 Sept 2007drilling progress report● Neutral
Weekly report: Riflebird-E6 is coring at 724m with 13.5m of coal so far. Riflebird-E5 is suspended awaiting a coring rig. Riflebird-E7 is suspended. No new results.
4 Sept 2007drilling scheduled▲ Good
With Molopo, a 115 line-km 2D seismic program was approved for PEL 13 and 426, to run October–November with results due in the first quarter of 2008. Reprocessing flagged structures with conventional oil and gas potential. Metgasco has taken PEL 13 coal seam rights to 75% (option exercised).
29 Aug 2007drilling progress report● Neutral
Weekly report: Riflebird-E5 spudded 22 August and is at 150m. Riflebird-E6 is coring at 456m. Riflebird-E7 finished at 825m with 21m of coal and is suspended. No new results.
22 Aug 2007drilling progress report● Neutral
Weekly report: Riflebird-E7 is coring at 738m with 10m of coal taken so far. Riflebird-E6 is cased at 288m awaiting a coring rig. No new results.
15 Aug 2007drilling progress report● Neutral
Weekly report: Riflebird-E6 spudded 10 August and is at 125m. Riflebird-E7 is coring at 450m. Riflebird-E3 is suspended again. No new results.
8 Aug 2007drilling progress report● Neutral
Weekly report: Riflebird-E3 lost tools were retrieved, with coring due to resume at 711m. Riflebird-E7 is cased at 146m. No new results.
2 Aug 2007drilling progress report● Neutral
Weekly report: Riflebird-E7 reached 146m and casing is being set. Riflebird-E4 is logged and suspended. Riflebird-E3 is cored to 711m and fishing for lost tools. No new results.
26 July 2007drilling progress report● Neutral
Weekly report: Riflebird-E7 spudded 25 July. Riflebird-E4 reached 771m with 36m of coal core and is being logged. Corella-E9 testing is complete and Corella-E7 testing is underway. No new reserve result.
25 July 2007resource reserve update▲ GoodMajor
MHA certified PEL 16 2P gas reserves at 129 PJ, up 480% from 22 PJ (113 PJ net to Metgasco); 3P is largely unchanged at 1,156 PJ. First step toward the 660 PJ 2P target; more data goes to MHA in coming months.
18 July 2007drilling progress report● Neutral
Weekly report: Corella-E10 finished at 780m with 27m of coal and good free gas shows, and is suspended. Corella-E8 permeability testing is complete. Riflebird-E4 is coring at 430m. No formal reserve results.
11 July 2007drilling progress report● Neutral
Weekly report: Riflebird-E3 finished at 699m with about 16m of coal and is suspended. Corella-E10 is drilling ahead at 636m. Riflebird-E4 is running casing at 429m. No formal reserve results.