Past year: ▼ 84%(0.10c – 0.63c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Feb 2011drilling result▲ GoodMajor
Annvale #1 finished at 900m with 19.4m of gassy coal and 27 core samples taken for gas testing. The company says results to date have met expectations. This completes the second well of the Clarence Moreton program; wireline and permeability tests follow.
15 Feb 2011drilling progress report● Neutral
Annvale #1 coring is at 870m with 18m of gassy coal so far. Expected total depth is 900m.
14 Feb 2011drilling progress report● Neutral
Annvale #1 coring is at 797m, with 11m of gassy coal intersected so far.
10 Feb 2011drilling progress report● Neutral
The Annvale #1 re-drill reached the 650m coring point, and coring will start shortly.
7 Feb 2011drilling progress report● Neutral
The Annvale #1 re-drill reached 300m, with coring expected to begin at 650m.
31 Jan 2011drilling progress report▼ Bad
Annvale #1 cored to 695m with several gassy coal seams, but downhole problems force the well to be re-drilled. It will be re-spudded on the same pad within days. This is a second setback for the well.
28 Jan 2011drilling result● NeutralMajor
Carinda #1 reached 354m. Logs showed 5.2m of coal across 14 seams, in line with expectations, though some seams are too shallow to hold gas. The company plans 6-8 wells across the Sandy Camp permits for about $1m, with a decision around mid-2011.
27 Jan 2011drilling progress report● Neutral
Annvale #1 coring has started at 569m and reached 631m, with coal expected shortly.
17 Jan 2011drilling progress report● Neutral
Depco will mobilise on Friday 21 January to start drilling Annvale #1, giving a new start date after the flood delays.
17 Jan 2011drilling progress report● Neutral
Carinda #1 reached 258m. Coal seams were seen but coring was not possible because of unconsolidated claystones. Drilling continues to 350m, then wireline logs will measure the coal.
11 Jan 2011drilling progress report▼ Bad
Annvale #1 mobilisation by Depco is delayed again by Queensland flooding, which limits access to equipment and may affect the site. No new spud date was given, so the 7 January re-spud slips further.
10 Jan 2011drilling spud● Neutral
Carinda #1 spudded on 9 January in the Sandy Camp Project (100% Red Sky), after months of flood delays. Target depth is 350m, coring Cretaceous coals in the Coonamble Embayment.
16 Dec 2010drilling progress report▲ Good
Early Talma #1 permeability tests are described as sufficient to support certification and viable production, with a gas flare seen; full analysis pending. Annvale #1 will be re-spudded 7 January with Depco; Carinda #1 slips to January due to flooding.
13 Dec 2010drilling result▲ GoodMajor
Talma #1 finished at 836m with 23.5m net gassy coal across 29 seams, versus 15m assumed in the November certification. The company expects recoverable resource to rise by at least 500 PJ, to be confirmed in Q1 2011.
9 Dec 2010drilling result▲ Good
Talma #1 has hit 21m net coal across 25 gassy seams at 788m, depth planned 860m. The company says results exceed expectations; gas content testing is pending.
6 Dec 2010drilling progress report▲ Good
Talma #1 coring is going smoothly: 6m net coal across 8 gassy seams at 677m, with 15m net expected. Carinda #1 is delayed again by rain blocking site access.
26 Nov 2010drilling progress report● Neutral
TDC has mobilised to Talma #1 (PEL 457) and will start coring this weekend at 480m, with planned total depth 820m.
23 Nov 2010drilling progress report▼ Bad
Unresolved drilling problems at Annvale #1 mean TDC moves to Talma #1; Annvale gets a new top hole later. Carinda #1 is set to spud 27 November. Extra costs are covered by existing funds, the company says.
17 Nov 2010drilling progress report▼ Bad
Drill bit problems with contractor TDC have delayed the start of coring at Annvale #1, now expected over the weekend.
15 Nov 2010resource reserve update▲ GoodMajor
MHA certifies initial Clarence Moreton volumes: 179 PJ of 3P reserves (PEL 457) and 938 PJ of 2C contingent resources across three permits. Red Sky holds no interest yet; completing both wells earns 30% of PEL 457 and 479.
8 Nov 2010drilling spud● Neutral
TDC rig mobilised to Annvale #1 for coring to 950m over two weeks. Gricks spudded the second well, Talma #1 (PEL 457), on 8 November; coring there follows Annvale.
1 Nov 2010drilling progress report▲ Good
Annvale #1 reached 504m, with coring due to start next week. The MHA reserves statement is expected within two weeks. The company welcomes BG Group's final investment decision on the Queensland Curtis LNG Project.
26 Oct 2010drilling spud▲ GoodMajor
Annvale #1 (PEL 479) spudded on 22 October and reached 80m before surface casing was cemented. Coring of coal is due from about 600m, over a 350m interval, with total depth 950m. First Clarence Moreton well begins.
20 Oct 2010drilling scheduled▲ Good
Annvale #1 (PEL 479), the first Clarence Moreton well, is set to spud on Friday 22 October. The well is very close to Metgasco's Casino Project.
18 Oct 2010drilling scheduled● Neutral
Rain has eased and the first Clarence Moreton well could spud later this week. No firm date is given yet.
12 Oct 2010drilling scheduled▼ Bad
Further unexpected heavy rain stopped the rig being mobilised, so the 12 October spud will not happen. More rain is forecast and no new date is given; the company calls it very frustrating.
7 Oct 2010drilling scheduled● Neutral
Rains have eased, and the first Clarence Moreton well is now expected to spud on Tuesday 12 October.
4 Oct 2010drilling scheduled▼ Bad
More heavy rain has again delayed the first Clarence Moreton spud. No new date is given and it is unlikely to happen this coming week.
29 Sept 2010drilling scheduled▼ Bad
Heavy rain has delayed the first Clarence Moreton spud to 5 October. Annvale #1 (PEL 479) now goes first because it has the best access, with Talma #1 to follow, reversing the order in the 20 September plan.
20 Sept 2010drilling scheduled● Neutral
Clarence Moreton schedule set: Talma #1 (PEL 457) to spud week of 27 September, Annvale #1 (PEL 479) mid-October, coring through October to early November. Both wells expected to hit up to 20 metres of gassy Walloon coal; Annvale approval received.
