Past year: ▼ 50%(0.30c – 1.90c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 July 2010drilling progress report▲ Good
The 3,955 km² Schiele 3D survey over WA-362-P and WA-363-P is complete, with full processing due Q4 2010. OMV and eni are readying a well for first half 2011, possibly Q1. Octanex stays fully carried; its 40% falls to 20% in the drilled permit.
21 Apr 2010drilling progress report▲ Good
The 3,955 km² Schiele 3D survey over WA-362-P and WA-363-P began on 21 April, with processing due by September 2010. Drilling is still planned for first half 2011. Octanex's 40% permit interest falls to 20% in the permit drilled, fully carried.
30 Dec 2009drilling spud● Neutral
Release said Braveheart-1 in WA-333-P was spudded on 29 December 2009 by the Songa Venus. It was later withdrawn as an administrative error, as Octanex has no interest in the well.
29 Dec 2009drilling result▲ GoodMajor
Cornea-3 reached 910.6 metres and found a 20.4 metre oil column, clearly defining the oil-water contact for the first time. No oil samples could be recovered because sand blocked the tools. Well plugged and abandoned as planned; Octanex holds 8%.
29 Dec 2009drilling result▲ Good
Moby Oil & Gas's copy of the final Cornea-3 report: a 20.4 metre oil column was found, but no fluid samples were recovered. Well plugged and abandoned. Adds that rig heads to Braveheart-1, spud expected around 30 December. Octanex holds 8% of Cornea.
23 Dec 2009drilling progress report● Neutral
Moby Oil & Gas's copy of Cornea-3 Progress Report No. 5: well reached 778 metres as planned. Reservoir still expected on 24 December. Octanex holds 8%.
23 Dec 2009drilling progress report● Neutral
Cornea-3 Progress Report No. 5: well drilled to 778 metres and casing set, on plan. Reservoir and logging still expected 24-25 December. Octanex holds 8%.
21 Dec 2009drilling progress report● Neutral
Moby Oil & Gas's copy of Cornea-3 Progress Report No. 4: drilling resumed and reached 592 metres with 13⅜-inch casing set. Reservoir is expected to be reached on 24 December. Octanex holds 8%.
21 Dec 2009drilling progress report● Neutral
Cornea-3 Progress Report No. 4: drilling resumed after the cyclone and reached 592 metres, with casing set. Plan is to drill to 765 metres, with the reservoir expected on 24 December. Octanex holds 8%.
18 Dec 2009farm in farm out agreement▲ GoodMajor
OMV and ENI committed to drill a well on the Exmouth Plateau permits at their cost, with a new 3,955 km² 3D survey. Octanex chose to keep a 20% fully carried interest over taking US$16m. Drilling is expected in 2011. Resolves the 31 Dec election.
17 Dec 2009drilling progress report● Neutral
Cornea-3 Progress Report No. 3: rig inspection showed the Songa Venus was unharmed by Cyclone Laurence, and crew are being flown back. Drilling resumes with a 445 metre hole. Ends the weather pause; Octanex holds 8%.
17 Dec 2009drilling progress report● Neutral
Moby Oil & Gas's copy of Cornea-3 Progress Report No. 3: the Songa Venus rig was unharmed by Cyclone Laurence and crew re-manning began. Next step is a 445 metre hole. Octanex holds 8% of WA-342-P.
14 Dec 2009drilling progress report● Neutral
Cornea-3 drilled 36-inch hole to 152 metres and cemented conductor pipe, then all 88 crew were evacuated ahead of Tropical Cyclone Laurence. Drilling waits for the storm to pass. Octanex holds 8%.
11 Dec 2009drilling spud▲ GoodMajor
Cornea-3 spudded on 11 December 2009 in WA-342-P, where Octanex holds 8%. The well aims to gather modern logs and pressure and fluid data to judge whether the Cornea field, found by Shell in 1997, could be developed.
9 Dec 2009drilling progress report● Neutral
Songa Venus rig handed to operator Hawkestone Oil, with drilling consents in hand, and is being towed to the Cornea-3 location in the Browse Basin. Follows the planned spud date announcement.
4 Dec 2009drilling scheduled● Neutral
Cornea-3 is planned to spud around 14 December 2009 once the Songa Venus rig is handed over about 8 December. Octanex holds an 8% interest in WA-342-P and calls it a low-risk appraisal of a known oil accumulation.
