24 Sept 2007drilling progress report● Neutral
Ascender-1 had drilled to 659 m and set 9 5/8 inch casing at 656 m, preparing to drill ahead. Routine progress; no result yet.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 Sept 2007drilling spud● Neutral
Victoria Petroleum, as operator, reports Ascender-1 began drilling 20 September 2007 in PEL 111, at 160 m by morning. Targets are Birkhead (P50 recoverable 2.6 mmbbl), Hutton and Namur. Duplicates the earlier Impress spud notice; Victoria holds 40%.
21 Sept 2007drilling spud● NeutralMajor
Impress reports Ascender-1 spudded 20 September in PEL 111 on Ensign Rig 20, to 2,100 m, about 16 days. It is the first PEL 111 well and the next step along the Jurassic oil fairway north of Growler. Birkhead P50 recoverable is 2.6 mmbbl.
10 Sept 2007drilling result▼ BadMajor
Lancer-1 was plugged and abandoned; a Permian oil show was seen but judged non-commercial. Another dry result for Victoria's 40% PEL 115 program. The rig moves 220 km to Ascender-1 in PEL 111, starting in about ten days.
7 Sept 2007drilling progress report▼ Bad
Lancer-1 reached total depth of 2,170 m and was preparing wireline logs. No hydrocarbon shows were observed while drilling; sidewall cores will give the final answer.
6 Sept 2007drilling progress report▼ Bad
Lancer-1 was at 2,165 m with no hydrocarbon shows seen in any target while drilling. Sidewall cores at total depth will give the final evaluation. Early sign is unfavourable.
5 Sept 2007drilling progress report● Neutral
Lancer-1 was drilling at 2,028 m in the Patchawarra sand target. Routine progress; no result yet.
4 Sept 2007drilling progress report● Neutral
Lancer-1 was drilling at 1,773 m, now targeting the Patchawarra sand. Routine progress; no result.
3 Sept 2007drilling progress report● Neutral
Lancer-1 was drilling ahead at 1,500 m in 8½ inch hole toward the 2,260 m target. Routine progress; no result.
31 Aug 2007drilling progress report● Neutral
Lancer-1 stood at 734 m, installing blow-out prevention equipment. Routine progress with no result.
30 Aug 2007drilling progress report● Neutral
Lancer-1 reached 734 m and was preparing to run 9⅝ inch casing. Routine progress with no result yet.
29 Aug 2007drilling progress report● Neutral
Lancer-1 was drilling ahead at 728 m in 12¼ inch hole. Routine progress; no hydrocarbon result yet. Victoria operates with 40%.
28 Aug 2007drilling spud● Neutral
Victoria as operator spudded Lancer-1 in PEL 115 on 27 August, targeting Jurassic and Permian oil to 2,260 m, 5 km from Mirage facilities. P50 Hutton recoverable 0.5 mmbbl if oil present. Victoria holds 40%. Key risks are seal and charge.
28 Aug 2007farm in farm out agreement▲ GoodMajor
Victoria signed a letter of intent with Santos and Avery expanding the ATP 752P farm-in from 3 to 7 wells plus 300 sq km of 3D seismic, about $18.5m total. Victoria is fully carried, ends with 15%. Santos becomes operator; Hudson-1 is delayed to Q1 2008.
28 Aug 2007drilling spud● Neutral
Impress reports Lancer-1 spudded 27 August on Ensign Rig 20, five km from Mirage facilities, to 2,260 m. Expected to take 17 days. P50 Hutton recoverable 0.5 mmbbl if oil present. Repeats Victoria's announcement.
24 Aug 2007drilling scheduled● Neutral
Impress says Lancer-1 (PEL 115) and Ascender-1 (PEL 111) will start shortly on Ensign Rig 20. Ascender, 2,100 m deep, has P50 recoverable 2.6 mmbbl in the Birkhead. Lancer P50 Hutton recoverable is 0.5 mmbbl. Victoria operates with 40%.
9 Aug 2007drilling result● Neutral
Partner Sun Resources reports the Margarita shallow program is finished: Dona Carlota and Agavero are gas discoveries awaiting or on sales, while Climaco was plugged and abandoned as non-commercial. Repeats Victoria's same-day announcement.
9 Aug 2007drilling result● NeutralMajor
Margarita shallow program ended: Dona Carlota and Agavero are gas discoveries (1.3 bcf gross recoverable) heading to sales lines; Climaco-1 was plugged and abandoned as non-commercial. Two of three wells succeeded; about 2.3 mmcfd gross expected. Victoria holds 20%.
7 Aug 2007farm in farm out agreement▲ GoodMajor
Advent Energy (via MEC) signed conditional farm-ins to earn up to 50% of the Typhoon (PEL 104) and Catalina (PEL 111) blocks from Victoria and partners, with a right to join four wells. Bringing in a new party to test 18 Permian prospects.
6 Aug 2007drilling progress report● Neutral
Partner Sun reports Agavero-1 flowed 647,000 scf/d and is being tied into a pipeline. Climaco-1 hit a high-pressure gas zone without pay, switched to a slim-hole rig after delays, and is drilling at 1,830 m toward a target at 1,792 m. Victoria holds 20%.
31 July 2007drilling progress report● Neutral
Growler-2 is still preparing to production test the 15 m oil column with the rig. Same boilerplate as previous days; no new result.
30 July 2007drilling progress report● Neutral
7 inch casing is set at 1,827 m in Growler-2 and the rig is preparing to production test the 15 m oil column. No test result yet.
27 July 2007drilling progress report● Neutral
Santos is rigging up to cased-hole test Wilpinnie-4, perforating a 9.8 m interval (1,482.5-1,492.3 m) of the Tomcat oil zone, with results to follow. Victoria holds 20%; the test will indicate how far Tomcat oil extends into PEL 115.
27 July 2007drilling progress report● Neutral
Growler-2 has 7 inch casing being run to production test the 15 m oil column (1,722-1,737 m), with the test expected in about three days. Repeats the prior day's news; no new result.
26 July 2007drilling progress report● Neutral
Cased-hole production test is being rigged up at Wilpinnie-4/Tomcat, which earlier flowed 144 bopd from an 18 m oil column. The test will cover the upper zone and a deeper zone. Victoria holds 20%; estimated recoverable volume 3.5 mmbbl (P50).
26 July 2007drilling progress report● Neutral
Growler-2 is conditioning the hole to run 7 inch casing for a production test of the 15 m oil column, still expected in about three days. No new result.
25 July 2007drilling result▲ GoodMajor
Growler-2 logs and side-wall cores show a 15 m gross oil column at 1,722-1,737 m in the Birkhead, reservoir similar to or better than Growler-1. With Growler-1, oil column is at least 18 m. Total depth 1,829 m; testing yet to come.
25 July 2007drilling progress report● Neutral
Partner Fall River repeats that production testing is starting at West Florence-1, with three zones totalling 9.1 m net gas pay to be tested. Fall River holds 15%. Duplicate of Victoria's release.
25 July 2007drilling progress report▲ Good
Victoria is running 7 inch casing at Growler-2 to production test the 15 m gross oil column (1,722-1,737 m), with the test expected in about three days. Total depth 1,829 m. Flow rate is the next key result.
24 July 2007drilling progress report● Neutral
Production testing is starting at West Florence-1 (Victoria 25%), with 4.5 inch casing set at 1,956 m. Three zones in 1,861-1,879 m, with 9.1 m net gas pay by logs, will be tested. Oil shows in other formations are not being tested.