Each one in plain English, with the numbers worked through for a shareholder.
7 July 2008well test result● Neutral
Emerald (12.75%) repeats the operator's Stokes Bay-1 inspection: 1,200 psi wellhead pressure, gas flowed about six minutes, then mud and gas. Called very encouraging; a definitive test is being designed. Duplicate of operator data already reported.
7 July 2008well test result▲ GoodMajor
ARC's inspection of Stokes Bay-1 found 1,200 psi at the wellhead; the well flowed gas for about six minutes, then mud and gas, before stopping. Operator calls it very encouraging, with gas from Laurel sands or Nullara reef. First gas flow since testing stalled. Definitive test design follows.
7 July 2008well test result▲ Good
Empire repeats the operator's Stokes Bay-1 inspection: 1,200 psi wellhead pressure, gas flowed about six minutes then mud and gas, interpreted as very encouraging. Duplicate of operator data.
7 July 2008well test result▲ Good
Pancontinental relays ARC's inspection result: Stokes Bay-1 wellhead pressure 1,200 psi and gas flowed for about six minutes, then slugged mud and gas. Operator calls it very encouraging; a definitive test is being designed. PCL holds 10%.
1 July 2008security holder rights change● Neutral
500,000 unlisted employee options (250,000 at 10c, 250,000 at 15c) lapsed unexercised on 30 June 2008. Administrative notice.
17 June 2008regulatory community update▲ Good
A satellite survey for Origin interprets oil seepage at Kenya blocks L8/L9, where PCL holds 25%. Origin calculates Mbawa prospect potential above 5 billion barrels oil-in-place. Only drilling can confirm. Cash at bank is $1.1m, down from $3.9m in November.
21 Apr 2008quarterly activities report● Neutral
March quarter: Stokes Bay-1 testing set to resume once the site is accessible, April-May 2008. Origin seeks a farminee to drill the Kenya L8/L9 prospects. Namibia licence conversion planned with Key. Malta still suspended; Baniyas rig under assessment.
14 Apr 2008farm in farm out agreement▲ GoodMajor
Pancontinental signs a deal with Key Petroleum: each gets 50% of any petroleum agreement awarded over its 30,000 sq km Namibia Walvis Basin licence. Key pays up to A$100,000 of past costs and shares future costs. PCL's interest falls from 100% to 50% if awarded.
14 Apr 2008farm in farm out agreement▲ Good
Key Petroleum announces its Namibia consortium agreement with Pancontinental: Key takes 50% of any petroleum agreement and exploration licence converted from the 30,000 sq km Walvis Basin licence, paying up to A$100,000 for past costs. Duplicate of Pancontinental's release.
3 Apr 2008admin correction● Neutral
The share registry, Advanced Share Registry Services, has moved to 150 Stirling Highway, Nedlands. Administrative notice only.
11 Mar 2008half year report● Neutral
Half-year to 31 December 2007: loss of $822,288, on $121,724 of interest and other revenue. Directors' report notes no significant change in the entity's state of affairs. Review was by Rothsay. Remainder of the text is truncated.
25 Jan 2008quarterly activities report● Neutral
December quarter: Stokes Bay-1 reservoir fluid still unidentified, testing resumes after the wet season. AVO analysis shows an anomaly over the Baniyas prospect. Kenya data integrated; invited to negotiate two new onshore Africa licences. Malta remains suspended.
2 Jan 2008security holder rights change● Neutral
1,625,000 unlisted employee options exercisable at 20c lapsed unexercised on 31 December 2007. Administrative notice.
28 Dec 2007security holder rights change● Neutral
4,025,000 unlisted director and employee options exercisable at 8c lapsed unexercised on 27 December 2007. Administrative notice.
4 Dec 2007well test result● Neutral
Empire repeats the operator's report: Stokes Bay-1 testing suspended and equipment removed because of rain, resuming around April 2008. Reservoir fluid still undetermined. Duplicate of operator data.
4 Dec 2007well test result● Neutral
ARC has suspended Stokes Bay-1 testing and removed all equipment because of seasonal rain. Testing is planned to resume around April 2008 after the wet season. The reservoir fluid and pressure source remain undetermined, so the result is delayed about four months.
29 Nov 2007investor presentation● Neutral
AGM presentation restates known projects: Origin to elect to drill Kenya L8/L9 by April 2008, Malta border talks, Namibia studies, and Baniyas drilling with a rig around end-2008. Cash $3.9m, 444m shares. No new results.
29 Nov 2007director officer appointment● Neutral
At the AGM the chairman says Battrick, who would have been offered CEO, leaves at year-end; director Barry Rushworth becomes acting General Manager until a new CEO is found. Stokes Bay-1 testing is stalled by rain, and the company is said to be adequately funded.
28 Nov 2007director officer appointment● Neutral
Andrew Svalbe has retired as a director after nine years, as foreshadowed in May 2007. He had already stepped down as CEO in July, so this completes his departure from the board.
26 Nov 2007well test result● Neutral
Operator ARC reports Stokes Bay-1 testing suspended for heavy rain; swabbing has recovered 3,644 barrels, about 29% of the 12,400 barrels of drilling fluid lost. Reservoir fluid and pressure source remain undetermined. Pancontinental holds 10%. Repeats the 23 November update.
23 Nov 2007well test result● Neutral
Emerald repeats the swabbing update: 3,644 barrels recovered, about 29% of the estimated 12,400 barrels of drilling fluid lost. Work is suspended for heavy rain, and the reservoir fluid is still undetermined. Duplicate of Empire's report.
23 Nov 2007well test result● Neutral
Swabbing at Stokes Bay-1 has recovered 3,644 barrels, about 29% of the estimated 12,400 barrels of drilling fluid lost. Work is suspended for heavy rain. The nature of the reservoir fluid and the source of its pressure are still undetermined.
15 Nov 2007well test result● Neutral
Testing restarted at Stokes Bay-1 on 14 November, but the first attempt to make the well flow failed, so swabbing equipment is being brought in. Pressure readings were encouraging, but the operator says clean-up of the cavernous zone may take some time. Reservoir fluid is still unknown.
15 Nov 2007well test result● Neutral
Empire repeats the operator's report: testing resumed 14 November, the first attempt to flow the well failed and swabbing equipment is being mobilised. Duplicate of operator data.
15 Nov 2007well test result● Neutral
Pancontinental relays ARC's report: testing resumed 14 November, the first flow attempt failed and swabbing is to follow. Its version says similar wells can take up to 30 days of flow to show reservoir fluid. PCL holds 10%.
15 Nov 2007well test result● Neutral
Emerald repeats the operator's report: testing resumed 14 November, the first flow attempt failed and swabbing equipment is being mobilised. Duplicate of operator data.
7 Nov 2007drilling progress report● Neutral
Pancontinental relays ARC's report: rig released from Stokes Bay-1 on 6 November, testing to resume in one to two weeks, recovered fluids still appear to be drilling mud (24% of 12,000 barrels). PCL holds 10%. Repeats operator data.
6 Nov 2007drilling progress report● Neutral
Emerald repeats the operator's report: rig released from Stokes Bay-1, testing to resume in one to two weeks, recovered fluids still appear to be drilling mud. Duplicate of operator data.
6 Nov 2007director officer appointment▼ BadMajor
General Manager Matthew Battrick has resigned, effective 31 January 2008, after three years. The board says it is negotiating with a candidate to replace him and will announce further. He is the company's senior technical executive following Svalbe's July retirement as CEO.
6 Nov 2007drilling progress report● Neutral
Empire repeats the operator's report: rig released from Stokes Bay-1 on 6 November, testing to resume in one to two weeks, recovered fluids still appear to be drilling mud. Duplicate of operator data.
