Each one in plain English, with the numbers worked through for a shareholder.
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.
20 Sept 2007drilling progress report● Neutral
Partner Empire repeats the operator's 20 September report: Valentine-1 at 3,241 m, Virgin Hills top now expected near 3,315 m. Duplicate of operator data.
20 Sept 2007drilling progress report● Neutral
Partner FAR repeats the operator's Valentine-1 report (3,241 m, Virgin Hills now expected near 3,315 m) alongside updates on its Louisiana wells. Nothing new on Pancontinental's interest.
20 Sept 2007drilling progress report● Neutral
Operator ARC reports Valentine-1 at 3,241 m after a bit change. The top of the Virgin Hills target is now expected slightly deeper, about 3,315 m, which ARC calls not structurally significant.
17 Sept 2007drilling progress report● Neutral
Partner Emerald repeats the operator's report of Valentine-1 at 3,234 m in tight limestones with minor gas; Virgin Hills not yet reached. Duplicate of operator data.
17 Sept 2007drilling progress report● Neutral
Partner FAR repeats the operator's report of Valentine-1 drilling ahead at 3,234 m, Virgin Hills not yet reached, and restates the Stokes Bay-1 sidetrack plan. Duplicate of operator data.
17 Sept 2007drilling progress report● Neutral
Operator ARC reports Valentine-1 at 3,234 m on 17 September, drilling tight Devonian limestones with minor gas. The Virgin Hills target sandstones have not yet been reached.
17 Sept 2007drilling progress report● Neutral
Partner Empire repeats the operator's 17 September report: Valentine-1 at 3,234 m in tight Devonian limestones with minor gas; Virgin Hills sandstones not yet reached. Duplicate of operator data.
17 Sept 2007drilling progress report● Neutral
Pancontinental reports Valentine-1 at 3,234 m, drilling slowly through tight Devonian limestone with minor gas. Battrick says the Virgin Hills sandstones are not yet reached, though shallower shows were interesting.
13 Sept 2007drilling progress report● Neutral
Pancontinental reports Valentine-1 at 3,038 m with intermittent elevated gas through the Clanmeyer Formation. Battrick says its significance awaits logging at total depth. Virgin Hills target still ahead at about 3,222 m.
13 Sept 2007drilling progress report● Neutral
Operator ARC reports Valentine-1 at 3,038 m on 13 September, pulling out for a bit change. Elevated gas in the Clanmeyer Formation will be assessed after wireline logging at total depth.
13 Sept 2007admin correction● Neutral
ARC re-issues its 13 September Valentine-1 report only to correct the reporting time to 13 September. Depth of 3,038 m is unchanged.
13 Sept 2007drilling progress report● Neutral
Partner Emerald repeats the operator's 13 September report: Valentine-1 at 3,038 m, bit change, elevated Clanmeyer gas awaiting logging. Duplicate of operator data.
