Each one in plain English, with the numbers worked through for a shareholder.
11 Sept 2009farm in farm out agreement▲ GoodMajor
Heads of Agreement: Monitor Energy pays 100% of Fury-1 in PEL 115 to earn 75% of the Fury Prospect and the right to 37.5% of the licence, rising to 75% with a second well. Drilling planned mid-October 2009. Advances the PEL 115 farm-in thread.
17 Aug 2009drilling result▲ GoodMajor
Snatcher-2 is a second oil discovery in the Snatcher channel: logs indicate 13 m net oil pay in the Birkhead Sandstone. Cased for production at 1,822 m; flow test planned mid-October 2009. Victoria holds 40%.
12 Aug 2009drilling result▲ Good
Core from Snatcher-2 showed good oil shows over 15 m (18.8 m gross from 1,765 m). Significance awaits logs. Planned total depth cut to 1,900 m.
11 Aug 2009drilling progress report▲ Good
Snatcher-2 saw oil shows at 1,765-1,768.8 m in the target Birkhead Sandstone and was pulling out of the hole to cut a core. Early positive sign; not yet evaluated.
10 Aug 2009drilling progress report● Neutral
Snatcher-2 was drilling ahead at 1,659 m toward the Birkhead Sandstone target, planned to 2,000 m. Victoria operates with 40%. No result yet.
6 Aug 2009drilling result▲ Good
Victoria relays Origin's result: Jingemia-12 reached 2,709.5 m, found about 15 m of hydrocarbon column in the Dongara Sandstone and is cased for production. Victoria holds 5%. Repeats the operator's release.
6 Aug 2009drilling result▲ Good
Origin, operator, reports Jingemia-12 drilled to 2,709.5 m and found about 15 m of hydrocarbon column in the Dongara Sandstone. It is cased and being prepared as a producer. Victoria holds 5%. Resolves the open Jingemia-12 thread.
6 Aug 2009drilling result● Neutral
Norwest's re-release of Origin's Jingemia-12 result: 15 m hydrocarbon column in the Dongara Sandstone, cased, being prepared for completion. Victoria holds 5%. Nothing new.
6 Aug 2009drilling result● Neutral
AWE's cover note forwarding Origin's Jingemia-12 result (15 m hydrocarbon column, cased, 2,709.5 m). Re-release; nothing new.
3 Aug 2009drilling spud● Neutral
Snatcher-2 spudded at 2300 hours on 2 August 2009, 899 m from the Snatcher-1 discovery, drilling surface hole at 35 m. Planned to 2,000 m in 14 days, targeting the same sand that flowed 218 bopd.
31 July 2009drilling progress report● Neutral
Victoria relays Origin's report that Jingemia-12 hit the Dongara Sandstone at 2,554.5 m and had reached 2,608 m. Victoria holds 5%. Repeats earlier releases.
30 July 2009drilling progress report● Neutral
Norwest's re-release of Origin's Jingemia-12 update: Dongara Sandstone intersected at 2,554.5 m, well at 2,608 m. Nothing new.
30 July 2009drilling progress report● Neutral
AWE's cover note forwarding Origin's Jingemia-12 update: target sandstone intersected at 2,554.5 m. Re-release; nothing new.
30 July 2009drilling progress report● Neutral
Origin reports Jingemia-12 reached the Dongara Sandstone target at 2,554.5 m, close to the 2,550 m expected, and was at 2,608 m. Victoria holds 5%; no test results yet.
23 July 2009drilling progress report● Neutral
AWE's cover note forwarding Origin's Jingemia-12 update (drilling at 675 m, Victoria 5%). Re-release; nothing new.
23 July 2009drilling progress report● Neutral
Origin's operator update repeats the Jingemia-12 spud (18 July) and reports surface casing set at 533 m, drilling at 675 m. Victoria is listed with 5%. No new result.
23 July 2009drilling progress report● Neutral
Norwest's re-release of Origin's Jingemia-12 update: surface casing set, drilling at 675 m. Victoria holds 5%. Nothing new.
21 July 2009drilling progress report▲ Good
QGC has begun coring at Lawton-3 and -4 in PL 171, the first wells of up to 11 planned over 12 months to establish 2P and 3P reserves. Victoria holds 20%. This starts the CSG drilling flagged as due mid-year.
20 July 2009drilling spud● Neutral
Origin, operator, began drilling the Jingemia-12 development well on 18 July 2009, planned to 2,709 m in about 25 days. Victoria holds 5% in the field. Small interest in an existing producing field.
6 July 2009drilling progress report▲ Good
Snatcher-1 was cased as a producer with 7-inch casing at 1,869 m, and sampling recovered moveable 48 degree API oil. The rig is moving to the Snatcher-2 site, 899 m to the northwest.
1 July 2009drilling result▲ GoodMajor
Snatcher-1 is an oil discovery: logs show a 14 m gross oil column (1,772-1,786 m), mostly net pay, at 1,880 m total depth. It will be completed as a producer, tested mid July, and the rig moves straight to Snatcher-2. First Western Margin test succeeds.
29 June 2009drilling progress report● Neutral
Snatcher-1 shows continued to 1,787 m, but two drill stem tests over the upper interval failed through mechanical faults. Target depth is raised to 1,900 m; significance awaits logs and further testing.
26 June 2009drilling progress report▲ Good
Snatcher-1 saw fair to good oil shows at 1,772-1,781.4 m, and the well is being prepared for an open-hole drill stem test. The significance of the shows is yet to be evaluated.
25 June 2009resource reserve update● NeutralMajor
First Don Juan 2P reserves certified: 34.2 PJ gross, all in Juandah coals, against 192 PJ 3P. Carnarvon-5 (early July) is expected to lift 2P to about 100 PJ; Taroom has none yet. Net 2P to Victoria is 19 PJ in the table (45% interest).
22 June 2009drilling progress report● Neutral
Snatcher-1 was drilling ahead at 1,224 m with no new result. Growler is reported producing 950 bopd, up from 868 bopd a week or so earlier.
15 June 2009drilling spud● NeutralMajor
Snatcher-1 spudded at 2000 hours on 14 June 2009, drilling surface hole at 42 m. It is the first well of the Western Margin Oil Project drilling, planned to 1,871 m in 15 days (Victoria 40% operator).
12 June 2009drilling scheduled● Neutral
Rig is being assembled at Snatcher-1 in PEL 111, with drilling expected to start 14 June 2009. The well tests whether oil is trapped in Birkhead channel sands near Santos' Charo field; it is planned to reach 1,871 m in 15 days and partly meets the year-five commitment.
27 Mar 2009drilling scheduled● Neutral
Impress says the PEL 111 joint venture will accelerate drilling of Snatcher-1, an exploration well near Santos' Charo field, in late May or June 2009, ahead of earlier plans to wait for 3D seismic interpretation. It partly meets the year-five three-well commitment.
27 Mar 2009drilling scheduled▲ GoodMajor
As operator with 40%, Victoria said the PEL 111 joint venture would drill Snatcher-1 in late May or early June 2009. The well will test whether oil is stratigraphically trapped in Birkhead channel sands 10 km from Growler, and partly satisfies the year-five three-well commitment.
4 Mar 2009resource reserve update▲ GoodMajor
MHA independently certified Don Juan (Victoria 45%) gross 3P recoverable reserves of 192 PJ, 86 PJ net to Victoria, its first certified reserve. Testing to certify 2P reserves starts Q2 2009, with 2P targeted early in the second half. This resolves the awaited certification.
