26 May 2008drilling result▼ Bad
Origin reports Freshwater Point 1 reached 1,817 m with the High Cliff Sandstone at about 1,647 m. No hydrocarbon shows were seen in the primary or secondary targets. Early sign of a dry hole for Victoria's 5%.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 May 2008drilling progress report● Neutral
Origin reports Freshwater Point 1 (Victoria 5%) drilling ahead at 1,158 m in the Kockatea Shale, after resuming on 21 May. Planned depth is 1,761 m. There is no result yet.
22 May 2008drilling progress report● Neutral
Victoria relays Origin's 22 May Freshwater Point 1 update: drilling ahead at 1,158 m in the Kockatea Shale. Victoria holds 5%. No result yet.
22 May 2008drilling progress report● Neutral
ARC Energy re-releases Origin's 22 May Freshwater Point 1 update: drilling ahead at 1,158 m. Victoria holds 5%. No new information.
22 May 2008drilling progress report● Neutral
Norwest Energy re-releases Origin's 22 May Freshwater Point 1 update: drilling ahead at 1,158 m. Victoria holds 5%. No new information.
15 May 2008drilling progress report● Neutral
Norwest Energy re-releases the Freshwater Point 1 update: casing set at 412 m with drilling ahead to follow. There is no new result.
15 May 2008drilling progress report● Neutral
Freshwater Point 1 (Victoria 5%) has set surface casing at 412 m and is preparing to drill ahead in 8½-inch hole. There is no result yet.
15 May 2008drilling progress report● Neutral
ARC Energy re-releases Origin's Freshwater Point 1 update: surface casing set at 412 m and drilling ahead to follow. There is no new result.
15 May 2008drilling progress report● Neutral
Origin's Freshwater Point 1 update: surface casing is set at 412 m and the well will drill ahead. Victoria holds 5%. It carries no new result.
13 May 2008drilling spud● Neutral
Norwest Energy re-releases Origin's announcement that Freshwater Point 1 spudded on 11 May. Victoria holds 5%. It carries no new information.
12 May 2008drilling spud● Neutral
Origin's release on Freshwater Point 1, Perth Basin, spudded 11 May, with 12¼-inch hole to 414 m. Planned depth is 1,761 m in about 10 days. Victoria holds 5%. Re-release of the operator's announcement.
12 May 2008drilling spud● Neutral
Freshwater Point 1 (EP 413, Victoria 5%) spudded on 11 May, targeting the High Cliff Sandstone. Victoria puts the mean prospect at 9 bcf gas or 6.1 million barrels of oil, with P10 of 19 bcf or 13 million barrels. It is a risky exploration well.
12 May 2008drilling spud● Neutral
ARC Energy re-releases Origin's announcement that Freshwater Point 1 spudded on 11 May (Victoria 5%). It carries no new information.
9 May 2008drilling result▼ Bad
Victoria relays Bow's Donga-4 result in ATP 805P (Victoria 15%): the swab recovered 27.5 barrels, mostly completion fluid with no hydrocarbons. The well is suspended, and stimulation may be considered later. Duplicate of the Bow release.
9 May 2008drilling result▼ Bad
Bow's Donga-4 swab test in ATP 805P recovered 27.5 barrels of mostly completion fluid and no hydrocarbons. The well is suspended. The reservoir appears tight or compartmentalised and unlikely to flow commercially without stimulation. Victoria holds 15%.
6 May 2008drilling result▲ GoodMajor
Cuisinier-1 is an oil discovery: 6 m net pay in the Murta Formation, cased as a producer. Production is expected early Q3 2008 via Santos infrastructure. It is Victoria's first Queensland Cooper oil producer, and Hudson-1 is due in June.
23 Apr 2008drilling spud● Neutral
Cuisinier-1 began drilling on 21 April, the first well of Santos's 7-well ATP 752P program, where Victoria is fully carried and keeps 15%. Planned depth is 2,513 m in 15 days, testing up to 2.1 million barrels unrisked.
4 Apr 2008drilling progress report● Neutral
Don Juan CSG weekly: Orallo North-3 reached 320 m and will be cased as a production well. Orallo South-1 is being partly re-drilled as a core well, with casing at 282 m and a target of 535 m. The 200 PJ 2P goal by end 2008 is unchanged.
1 Apr 2008farm in farm out agreement▲ GoodMajor
Enterprise Energy announces that Victoria's subsidiary and Enterprise's will take over PEL 88 interests from Cooper, Sundance and Liberty on renewal, ending at 50% each. Victoria (currently 10%) would operate. Subject to ministerial renewal and approval.
17 Mar 2008drilling progress report▼ Bad
Don Juan North-2 oil twin (Victoria 24%) reached 360 m with only residual oil shows; live oil appears to have leaked away and it was suspended as a water well. Orallo South-1 cored to 195 m amid mechanical delays.
11 Mar 2008drilling progress report● Neutral
Bow's weekly report: Orallo South-1 (Don Juan CSG, Victoria 45%) spudded 6 March as a core well. Don Juan North-2 oil twin (Victoria 24%) reached the oil zone top at 324 m. Target remains 200 PJ 2P by end 2008.
29 Feb 2008drilling spud● Neutral
Taringa South-2, the second of six Don Juan CSG core wells (Victoria 45%, Bow operator), has started drilling after Orallo North-2 reached 347 m and was suspended. Targets 200 PJ 2P by end 2008, certified by MHA. Core results will feed certification.
26 Feb 2008drilling result● Neutral
Victoria repeats that Paradise Downs-2 (PL 171, Victoria 20%) finished coring at 504 m with seven cores taken for gas testing, and Netherland, Sewell is engaged on certification. Up to 23 further 2008 CSG wells are cited. No gas results yet.
25 Feb 2008drilling result● Neutral
Roma reports Paradise Downs-2 (PL 171, Victoria 20%) reached 504 m, was logged and plugged, with seven coal cores taken for gas testing. Netherland, Sewell engaged to advise on resource certification. No gas content results yet.
19 Feb 2008drilling result● Neutral
Roma reports Paradise Downs-2 reached 276 m and three coal cores were taken between 118 m and 137 m for gas-content testing. No gas results are given.
18 Feb 2008drilling progress report● Neutral
Paradise Downs-2, the second PL 171 core well (Victoria 20%), is coring ahead at 168 m toward a planned 400 m. Victoria now cites up to 22 further 2008 CSG wells, and Cooper oil drilling slipping to late March or early April.
12 Feb 2008drilling result● Neutral
Roma reports Paradise Downs-1 reached 492 m with eleven coal cores taken for gas-content testing. The hole will be plugged after logging, and the rig moves to Paradise Downs-2. No gas results yet.
12 Feb 2008drilling result● Neutral
Paradise Downs-1 in PL 171 (Victoria 20%) finished coring at 492 m with eleven coal cores for gas testing. The rig moves to Paradise Downs-2. No gas content results are reported.
6 Feb 2008drilling spud● Neutral
Paradise Downs-1, the first of two core wells in PL 171 (Victoria 20%, Roma 80% operator), has started drilling. It is coring ahead to gain gas content data. Part of the 2008 CSG program that Victoria is funding from its placement and SPP.
5 Feb 2008drilling progress report● Neutral
Roma reports the Paradise Downs-1 coal seam gas core well in PL 171 (Victoria 20%) is coring ahead at 126 m. Cores are for gas content testing.