31 July 2007flow test result▲ Good
Partner FAR repeats the Lake Long #9 test of 2.36 million cubic feet of gas and 55 barrels of condensate a day, with production due in August. Rest covers FAR's own Lindsey well. Sun holds 10%.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
31 July 2007flow test result▲ GoodMajor
Lake Long #9 flowed 2,364,000 cubic feet of gas and 55 barrels of condensate a day with no water on restricted test. Sales are expected late August at about 4 million cubic feet a day. Sun holds 10%.
25 July 2007drilling progress report● Neutral
Lake Long #9 production platform is being built and the well is to be perforated and tested over the weekend. Hookup equipment is two weeks away, so the well should be producing in 2-3 weeks. Sun holds 10%.
25 July 2007drilling progress report● Neutral
Partner FAR repeats Sun's Lake Long #9 update: platform being built, weekend test, production in 2-3 weeks. The rest covers FAR's own Lindsey and Kicker wells. Nothing new for Sun, which holds 10%.
20 July 2007quarterly activities report● Neutral
Appendix 5B cash report for the June 2007 quarter; the financial figures are garbled and unreadable. The tenement schedule shows Sydney Basin interests sold, WA-261-P withdrawn from, and a 10% interest earned in Lake Long (SL238).
19 July 2007drilling progress report● Neutral
Lake Long #9 completion is continuing; production tubing is being run, and a smaller workover rig will clean up, perforate and test the 24 feet of Middle Hollywood pay next week. Expected 3-4 million cubic feet a day. Sun holds 10%.
19 July 2007drilling progress report● Neutral
Partner FAR's update repeats Sun's Lake Long #9 completion news (workover rig next week, 3-4 million cubic feet a day expected) alongside its own Lindsey well. Nothing new for Sun, which holds 10%.
17 July 2007well test result▲ Good
Dona Carlota-1 calculated open flow rate is 20.5 million cubic feet a day, though initial sales are expected at about 1 million a day once connected at end July. Climaco-1 is at 1,106 metres. Sun holds 20%.
17 July 2007well test result▲ Good
Sun repeats Dona Carlota-1's 20.5 million cubic feet a day open flow rate, with sales expected near 1 million a day from end July. Climaco-1 is drilling at 1,106 metres. Sun holds 20%.
16 July 2007drilling spud● Neutral
Victoria Petroleum confirms Climaco-1, the third and last shallow Margarita well, began drilling on 12 July, targeting 1,980 metres and 1.6 bcf mean potential. Sun holds 20%. Partner-side repeat of Sun's release.
16 July 2007drilling spud● Neutral
Climaco-1, the last of the three Margarita shallow wells, started drilling on 12 July and is at 838 metres. Mean target is 1.6 bcf at planned 1,981 metres. Sun holds 20%.
11 July 2007drilling progress report● Neutral
Partner FAR's update mainly covers its own wells; its Lake Long #9 section repeats Sun's 11 July completion news (24 feet Middle Hollywood pay first, 3-4 million cubic feet a day expected). Nothing new for Sun, which holds 10%.
11 July 2007drilling progress report● Neutral
Lake Long #9 logging is complete and the Lower Hollywood appears water wet, so it is being plugged off. The 24 feet of Middle Hollywood net pay will be completed first, with 3-4 million cubic feet a day expected from analogues. Sun holds 10%.
11 July 2007quarterly activities report▲ Good
June quarter report restates known results: Lake Long #9 at 13,284 feet being completed (10%), Donna Carlota and Agavero gas discoveries at Margarita, Climaco pending, and Redback first well targeted late 2007. No new figures beyond prior announcements.
5 July 2007drilling progress report● Neutral
Partner FAR repeats Sun's 5 July Lake Long #9 update: Lower Hollywood intersected with gas shows, electric logs pending, and 13 and 29 feet of net log pay behind pipe. Adds nothing new for Sun, which holds 10%.
5 July 2007drilling result● Neutral
Lake Long #9 reached final depth of 13,284 feet after drilling through the Lower Hollywood with gas shows; logs still to be run. Earlier logs confirmed 13 feet and 29 feet of net pay in Upper and Middle Hollywood, behind casing. Sun holds 10%.
3 July 2007well test result▲ Good
Donna Carlota-1 flowed 1,024,000 cubic feet of gas a day with no water and will be tied into a nearby pipeline for sales. Agavero-1 testing is delayed by rain; Climaco-1's rig is on site but delayed. Sun holds 20%.
3 July 2007well test result▲ Good
Donna Carlota-1 began production testing at 1.02 million cubic feet of gas a day with no water. Agavero-1 testing is being prepared; Climaco-1, the last shallow well, is due to start drilling. Sun holds 20%.
28 June 2007drilling result▲ Good
Victoria Petroleum announces the Agavero-1 gas discovery: 5.5 metres of gross gas pay, no water, with testing to come. Climaco-1 is next; program to mid-July. Sun holds 20%. Partner-side repeat of Sun's release.
28 June 2007drilling result▲ GoodMajor
Partner FAR reports electric logs confirm gas pay at Lake Long #9: 13 feet net in the Upper Hollywood and 29 feet in the Middle, now behind casing for future production. Drilling continues to the Lower Hollywood. Sun holds 10%.
28 June 2007drilling result▲ GoodMajor
Agavero #1 reached 1,341 metres and logs suggest 5.5 metres of gross gas pay with no water, a second Margarita gas show. Testing is planned back to back with Donna Carlota, which is still delayed by flooding. Sun holds 20%.
25 June 2007drilling progress report● Neutral
Victoria Petroleum says Agavero-1 started drilling 21 June and is at 695 metres, targeting 1,340 metres. Donna Carlota-1 production testing is planned around 28 June. Sun holds 20%. Largely repeats known information.
25 June 2007drilling progress report● Neutral
Agavero #1 is drilling at 2,272 feet toward 3,500 feet. Flooding has blocked access to Donna Carlota, delaying its production test to about 26 June. Sun holds 20% of Margarita. No new result.
19 June 2007drilling progress report● Neutral
Partner FAR repeats the Lake Long #9 gas shows in the Upper and Middle Hollywood targets at 12,308 feet, with 26 feet of possible net pay in the Middle. The Lower Hollywood remains to be drilled. Repeat of Sun's update.
19 June 2007drilling progress report▲ Good
Lake Long #9 is at 12,308 feet, with gas shows in the Upper and Middle Hollywood targets; 26 feet of possible net pay in the Middle. Significance unknown until electric logs at total depth. Agavero #1 is rigging up to start.
18 June 2007drilling result▲ Good
Victoria Petroleum reports the same Donna Carlota-1 gas discovery: 5.6 metres of net pay, 0.62 bcf estimated recoverable, production testing later in the week. Sun holds 20%. Partner-side repeat of Sun's release.
18 June 2007drilling result▲ GoodMajor
Donna Carlota-1 at Margarita reached 1,524 metres with 5.6 metres of net gas pay, estimated at 0.62 bcf recoverable (below the 0.8 bcf pre-drill mean). Casing run for testing. Rig moved to Agavero. Sun holds 20%.
12 June 2007drilling progress report● Neutral
Lake Long #9 is at second casing point, 11,567 feet, running casing before drilling toward the Hollywood targets (11,800 feet and below). Donna Carlota #1 at Margarita is drilling ahead at 3,245 feet toward 5,000 feet. No results yet.
7 June 2007drilling spud● Neutral
Victoria Petroleum, Sun's Margarita partner, confirms Donna Carlota-1 has started drilling, the first of the final three shallow wells; the program is expected to run to end of July 2007. Sun holds 20%. Repeats Sun's 6 June update.
6 June 2007drilling progress report● Neutral
Lake Long #9 is drilling at 11,128 feet toward its second casing point. Floods delayed the Margarita final-three-well program; the rig started Donna Carlota #1 (350 feet) instead of Agavero, which was inaccessible. Sun holds 20% of Margarita.