Each one in plain English, with the numbers worked through for a shareholder.
18 Oct 2007drilling result● Neutral
Pancontinental relays ARC's report that Stokes Bay-1 reached 2,755 m after total mud losses at the top of the Nullara carbonates. Logging then a possible flow test will follow. PCL holds 10% in the deeper section. Repeats the 18 October well data.
18 Oct 2007drilling result● Neutral
Partner FAR repeats the operator's report: Anderson oil and gas shows, deepening to 2,755 m, and total mud loss at a possible porous Nullara zone. FAR keeps its 8%. Duplicate of operator data.
18 Oct 2007drilling result● Neutral
Partner Emerald repeats the operator's report: Stokes Bay-1 at 2,755 m, Anderson oil and gas shows, total mud loss at the Nullara. Emerald keeps 12.75% in the deeper section. Duplicate of operator data.
18 Oct 2007drilling result▲ GoodMajor
Stokes Bay-1 reached the Anderson target at 2,589 m with oil and gas shows, then was deepened to 2,755 m after the joint venture elected to test the Nullara carbonates. Total mud loss there suggests a porous zone. Pancontinental keeps 10% in the deeper part.
18 Oct 2007drilling result● Neutral
Partner Empire reports two Anderson sands with oil and gas shows in Stokes Bay-1 and wants to test them. It chose not to join the deeper Nullara drilling, calling it very high risk. Otherwise repeats the operator's data.
11 Oct 2007drilling progress report● Neutral
Partner Emerald forwards the operator's 11 October report: Stokes Bay-1 at 1,841 m after a stuck-pipe incident, running in with a new bit. Duplicate of operator data.
11 Oct 2007drilling progress report● Neutral
Pancontinental relays the operator's update: Stokes Bay-1 at 1,841 m after a stuck-pipe incident was cleared, now running in with a new bit. No new results.
11 Oct 2007drilling progress report● Neutral
Operator ARC reports Stokes Bay-1 drilled to 1,841 m after pipe stuck at 858 m was freed. Running in with a new bit; no hydrocarbon indications yet.
11 Oct 2007drilling progress report● Neutral
Partner Empire summarises Valentine-1 as having excellent Anderson gas shows, possibly at the edge of the accumulation. Says the joint venture is considering deepening Stokes Bay-1 to test the Nullara carbonates. Well is at 1,841 m.
4 Oct 2007drilling spud● Neutral
Partner Empire repeats the Stokes Bay-1 spud and drilling at 1,226 m. Empire maps the target about 150 m updip from Valentine-1 and sees mainly gas, with possible oil, in the Anderson sands. Duplicate of operator data.
4 Oct 2007drilling spud▲ Good
Pancontinental confirms the Stokes Bay-1 sidetrack started on 3 October, with the company holding 10% of the Canning Basin permits. Battrick says the well will meet the Valentine-1 gas-show intervals substantially updip.
4 Oct 2007drilling spud● Neutral
Partner FAR repeats the operator's report: Valentine-1 sidetracked as Stokes Bay-1 on 3 October, drilling ahead at 1,226 m toward about 2,500 m. Duplicate of operator data.
4 Oct 2007drilling spud▲ GoodMajor
Operator ARC reports Valentine-1 was plugged and abandoned, and the Stokes Bay-1 sidetrack spudded on 3 October from 975 m, now drilling at 1,226 m. Target is the Anderson gas sands about 90 m updip of Valentine-1's strong gas shows.
4 Oct 2007drilling spud● Neutral
Partner Emerald repeats the operator's report that Stokes Bay-1 spudded on 3 October and is drilling at 1,226 m, targeting about 100 m updip of Valentine-1's gas shows. Duplicate of operator data.
28 Sept 2007annual report● Neutral
Pancontinental's annual report for the year to 30 June 2007. The text provided is truncated after the directors' details, so no financial figures can be reported here. Confirms Svalbe stepped down as CEO on 6 July and stays as a non-executive director.
27 Sept 2007drilling progress report● Neutral
Pancontinental reports logging has begun at Valentine-1's final depth of 3,430 m. Battrick looks forward to the Stokes Bay-1 sidetrack, calling the Anderson and Laurel shows very encouraging.
27 Sept 2007drilling progress report● Neutral
Partner Empire repeats that Valentine-1 is at 3,430 m with wireline logging under way. Says Stokes Bay-1 is 5.5 km along strike and 120-150 m updip from the 1992 Point Torment-1 gas discovery (4.3 MMcf/d).
27 Sept 2007drilling progress report● Neutral
Partner Emerald forwards the operator's 27 September drilling report: Valentine-1 at 3,430 m, logging under way, no hydrocarbon indications listed. Duplicate of operator data.
27 Sept 2007drilling progress report● Neutral
Operator ARC reports Valentine-1 at final depth of 3,430 m, hole conditioned and electric wireline logging under way. No new results.
27 Sept 2007drilling progress report● Neutral
Partner FAR repeats the operator's 27 September report: Valentine-1 at 3,430 m with wireline logging under way, and the Stokes Bay-1 sidetrack planned to about 2,500 m. Duplicate of operator data.
25 Sept 2007drilling result▼ Bad
Pancontinental confirms Valentine-1 final depth 3,430 m, with tight Virgin Hills sandstones and no significant shows, so the primary target looks unsuccessful pending logs. Battrick calls the shallower gas shows highly encouraging for Stokes Bay-1.
25 Sept 2007drilling result▼ Bad
Partner Empire repeats the operator's report of final depth at 3,430 m with no significant Virgin Hills shows. Says the strong gas shows significantly upgrade gas prospectivity at Stokes Bay-1. Duplicate of operator data.
25 Sept 2007drilling result▼ Bad
Partner FAR repeats the operator's report: Valentine-1 final depth 3,430 m, lack of porosity and shows in Virgin Hills, logging next. Restates the Stokes Bay-1 sidetrack plan. Duplicate of operator data.
25 Sept 2007drilling result▼ BadMajor
Operator ARC calls Valentine-1 final depth at 3,430 m because the Virgin Hills target sandstones were tight with no significant hydrocarbon shows. Earlier strong Anderson and Laurel gas shows are called encouraging for Stokes Bay-1, to follow by sidetrack.
25 Sept 2007drilling result▼ Bad
Partner Emerald repeats the operator's report: Valentine-1 final depth 3,430 m, Virgin Hills target tight with no significant shows. Notes the shallower gas shows enhance Stokes Bay-1 prospects. Duplicate of operator data.
24 Sept 2007drilling progress report● Neutral
Partner Emerald repeats the operator's 24 September report: Valentine-1 at 3,377 m, rig repaired, drilling ahead at 3,382 m. Duplicate of operator data.
24 Sept 2007drilling progress report● Neutral
Partner FAR repeats the operator's report of Valentine-1 drilling ahead at 3,382 m after the rig repair; Virgin Hills sandstones not yet intersected. Duplicate of operator data.
24 Sept 2007drilling progress report● Neutral
Partner Empire repeats the operator's report: top drive repaired, Valentine-1 drilling ahead at 3,382 m, Virgin Hills sandstones not yet reached. Duplicate of operator data.
24 Sept 2007drilling progress report● Neutral
Pancontinental reports Valentine-1 drilling ahead below 3,382 m after rig repairs, through tight dolomites with minor gas. Virgin Hills target not yet penetrated. Statement shows cash of A$3.6m and 444m shares.
24 Sept 2007drilling progress report● Neutral
Operator ARC reports Valentine-1 reached 3,377 m before a top drive hydraulic failure on 22 September; repaired, drilling ahead at 3,382 m. Virgin Hills sandstones still not intersected.
