Each one in plain English, with the numbers worked through for a shareholder.
25 Nov 2011drilling spud● Neutral
Kato-1 coal seam gas well began drilling on 23 November 2011 in ATP 593P (Senex 45% operator, Bow 55%), targeting Walloon Coal Measures to 285 m. It is the first of two wells, extending work in ATP 771P where almost 200 PJ of 3P reserves are certified.
11 Nov 2011drilling spud● Neutral
Growler-9 appraisal well started drilling on 11 November 2011, the second well in the 11-well program (Senex 60%, operator). It targets the Birkhead Formation to about 1,850 m.
7 Nov 2011drilling result▲ GoodMajor
Growler-6 found a 17 m gross oil column in the Birkhead Formation, with at least 6 m net pay, and was suspended as a future producer. This is the first result from the 11-well program and supports the 700,000 bbl target.
18 Oct 2011drilling spud● Neutral
Growler-6 appraisal well started drilling on 17 October 2011, the first of the 11-well PRL 15/PEL 104 program (Senex 60%, operator). Target depth is 1,850 m in the Birkhead Formation, which produces oil at Growler-1 to -5.
5 Oct 2011drilling result▲ Good
QGC drilled and suspended three Surat Basin CSG wells in PL 171 (Senex 20%); gas flowed to surface on Alex-7 testing, and net coal averaged close to 30 m. Senex will start Kato-1 and Kato-2 in Don Juan ATP 771P in November 2011.
1 Sept 2011drilling result▼ BadMajor
Sampdoria-1, Santos-operated in the Wompi Block, was plugged and abandoned at 1,823 m. A test at the top of the Hutton Sandstone recovered only 2.8 bbl of mud-cut water. A dry hole, though Senex's 22.75% interest was carried at no cost.
19 Aug 2011farm in farm out agreement▲ GoodMajor
Senex farms into PELA 514 (1,921 sq km, northern Cooper Basin) from Planet Gas, earning 50% of the Northern Area and 70% of the Southern Area by funding three wells. Senex becomes operator. The licence is expected to be granted by end 2011.
19 Aug 2011farm in farm out agreement● Neutral
Planet Gas's notice of the same deal: Senex signed a heads of agreement to earn 50% of the Northern Area and 70% of the Southern Area of PELA 514 by funding three exploration wells. Duplicates Senex's own release of the same day.
18 Aug 2011farm in farm out agreement▲ GoodMajor
Senex farms out 60% of PEL 516's Mudlalee and Rowley Blocks and 50% of PEL 113's Zulu Block to Ambassador Exploration, which will fund three wells and 100 sq km of 3D seismic. Senex stays operator and keeps unconventional gas rights. Conditions precedent still pending.
16 Aug 2011drilling spud● Neutral
Santos spudded the Sampdoria-1 oil exploration well in ATP 752P's Wompi Block, with a planned total depth of 1,835 m. Senex participates at no cost for its 22.75% working interest in the well.
15 July 2011drilling scheduled▲ GoodMajor
Senex set its 2011/12 budget targeting at least 700,000 bbl net oil, with five Growler development wells, six PEL 104 exploration wells, and three dedicated shale gas wells in PEL 516. It says the program is fully funded from existing cash and operating cash flow.
29 June 2011drilling result▲ GoodMajor
Coring at Vintage Crop-1 finished, with over 200 m of gross Toolachee coal and shale penetrated. Continuous gas shows with liquids and heavy gases were seen, which Senex says are in line with MHA's up to 99 Tcf gas-in-place estimate for PEL 516 shales. Laboratory desorption results still to come.
14 June 2011drilling result▲ GoodMajor
Vintage Crop-1 in PEL 516 (Senex 100%) found a new oil field, flowing 312 bopd on test from the McKinlay Member with 3 m net pay. Preliminary estimate is at least 305,000 bbl oil in place. Coring of coals and shales follows.
3 June 2011drilling progress report▲ Good
Oil shows were seen in Vintage Crop-1 while drilling at 1,450 m. It will be drilled to 1,670 m for the oil targets, with drill stem tests shortly to confirm whether there is a discovery. The coal and shale coring is still to come.
26 May 2011drilling spud● Neutral
Vintage Crop-1 spudded 24 May in PEL 516 (Senex 100%), targeting 2,075 m in about 23 days. It will test five oil zones, then be deepened to evaluate coals and shales, Senex's first appraisal of its Cooper unconventional gas acreage.
23 May 2011drilling result▲ Good
QGC's Peebs-14 appraisal well in ATP 574P (Senex 30%) intersected 43 m of net coal, reaching 1,150 m. Together with Pinelands-11, it found more net coal than elsewhere in the eastern Surat Basin. Permit number was mistyped as 547P; corrected in the next release.
20 Apr 2011drilling scheduled▲ Good
Vintage Crop-1 in PEL 516, about 65 km south east of Moomba, will first test oil zones and then be deepened to core Permian coals and shales for unconventional gas. This begins Senex's evaluation of Stuart's Cooper Basin gas acreage, with dedicated gas wells possible in 2011-12.
9 Mar 2011drilling result▲ GoodMajor
Cuisinier-3 reached 2,040 m and was cased as a potential producer after wireline logs indicated 5-6 m of net oil pay in the upper Murta. Cased-hole tests of this and two earlier wells are expected within two months. Senex holds 15%.
22 Feb 2011drilling spud● Neutral
Cuisinier-3 appraisal well has started drilling in ATP 752P, operated by Santos. It is planned to reach 2,028 m, targeting the Murta Formation. It lies 750 m from the Cuisinier-1 discovery. Senex's interest was previously stated at 15% in wells, carried.
21 Feb 2011resource reserve update▲ GoodMajor
MHA audit of Snatcher and Growler books first Proved (1P) reserves of 1.6 mmbbl. Net 2P oil rises 194% to 4.7 mmbbl and 3P rises 193% to 13.2 mmbbl, as at 19 February 2011. This meets the earlier 4.5 mmbbl 2P target.
27 Jan 2011resource reserve update▲ GoodMajor
Independent certification of the Surat CSG permits PL 171 and ATP 574P puts net 2P gas at 34.0 PJ and 3P at 160.1 PJ. With Don Juan, net 2P rises 76% to 79.0 PJ and 3P 180% to 249.1 PJ. This resolves the overdue certification thread.
21 Dec 2010drilling scheduled▲ GoodMajor
Victoria will build an alternative access road to Growler in January 2011 to start drilling in February, after the field was cut off since February 2010. It targets over 1,500 bopd and net 2P above 4.5 mmbbl by mid-2011, using three Growler development wells and three PEL 104 exploration wells.
1 Dec 2010drilling result▲ Good
Cuisinier-2 reached 2,037 m with up to 7 m of potential oil pay in the Murta Formation plus moderate shows in deeper Murta sands and Birkhead. It is cased for testing in the first quarter of 2011. Victoria's 15% share is carried.
17 Nov 2010drilling spud● Neutral
Santos began drilling Cuisinier-2, an appraisal well 465 m from the Cuisinier-1 discovery in ATP 752P, targeting 2,034 m. Victoria's 15% share in the well is carried at no cost.
12 Nov 2010drilling result▲ Good
Barta North-1 reached 2,090 m with 2 to 5 m of probable oil pay in the Murta Formation and oil shows in Birkhead sands. It is cased for testing in the first quarter of 2011, so commerciality is unproven. Victoria's 15% share is carried.
3 Nov 2010drilling spud● Neutral
Santos began drilling Barta North-1 in ATP 752P, six km from the Cuisinier oil field, targeting 2,031 m. Victoria has a 15% interest in the well and is carried at no cost.
20 Oct 2010drilling result● Neutral
Marcus-2 in ATP 574P reached 1,055 m, was logged and drill stem tested, and casing was cemented at 1,043 m; the rig is released. No test results are given.
12 Oct 2010drilling spud● Neutral
Marcus-2, a CSG appraisal well in ATP 574P (Victoria 30%), is drilling at 653 m toward a planned 1,040 m. It follows Marcus-1.
1 Sept 2010drilling progress report● Neutral
Alex-5 in PL 171 is drilling ahead at 208 m toward 593 m. No results yet.
27 Aug 2010drilling progress report● Neutral
Carla-3 in PL 171 was drilled to 607 m and cased, with no results given. The rig will move to Alex-5 when roads allow. The reserve target date is no longer stated.
