7 Sept 2006drilling progress report● Neutral
Growler-1 is finishing casing at 589 m and installing blowout preventers. Nothing new; the up to 16 million barrel target and ten-well program are restated.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Sept 2006drilling progress report● Neutral
Growler-1 (Victoria operator, 40%) has 9 5/8 inch casing set at 589 m and is waiting on cement. Target remains up to 16 million barrels, if oil is present, with TD 2,079 m expected in about 15 days. No oil results yet.
6 Sept 2006drilling progress report▲ Good
White Sands reports Primero-1 (Victoria 40% free carried) set casing at 282 m and will drill ahead from 493 m into the deeper Reids Dome Beds. The shallow Cattle Creek gas flare of 2.8 mmcfd needs retesting after casing; a commercial review is under way.
5 Sept 2006drilling result▲ Good
Origin confirms Jingemia-8 found an oil-saturated Dongara Sandstone at 2,482 m, about 30 m above the original oil-water contact. The reservoir is not in pressure communication with the rest of the field. The well will be completed and connected. Victoria holds 5%.
5 Sept 2006drilling progress report● Neutral
Growler-1 has drilled to 612 m and is preparing to run 9 5/8 inch casing. No oil results yet; the target is up to 16 million barrels, if oil is present.
5 Sept 2006drilling result▲ Good
ARC re-releases Origin's 5 September update: Jingemia-8 (Victoria 5%) found the entire Dongara Sandstone oil-saturated, about 30 m above the original oil-water contact, and not in pressure communication with the rest of the field. Casing is being run. Repeats known results.
5 Sept 2006drilling result▲ GoodMajor
Wireline logs show Jingemia-8's entire 27 m Dongara Sandstone (2,482-2,509 m) is oil saturated, and apparently separate from the rest of the field. It will be cased as a producer. Victoria (5%) lifts its field target to 4,000-5,000 bopd gross.
4 Sept 2006drilling progress report● Neutral
Growler-1 (PEL 104, Victoria operator 40%) began drilling, at 407 m on 4 September, with a 2,079 m target depth. P10 target is 9 to 16 million barrels, if oil is present. It cites Beach's Callawonga discovery of 2,400 bopd nearby.
1 Sept 2006drilling result▲ Good
Victoria says Jingemia-8 drilled to 2,565 m, indicating 31 m of Dongara Sandstone oil reservoir (2,478-2,509 m), about 34 m above the original oil-water contact. Wireline logs must still confirm it. Victoria holds 5%.
31 Aug 2006drilling progress report▲ Good
Origin reports Jingemia-8 reached 2,565 m. The Dongara Sandstone is interpreted at 2,478 m, about 34 m above the original oil-water contact, subject to wireline logs. Oil result not yet confirmed.
31 Aug 2006drilling progress report● Neutral
ARC re-releases Origin's report that Jingemia-8 reached 2,565 m, with the Dongara Sandstone at 2,478 m pending logs. ARC cautions the implications can only be judged after logging and evaluation.
25 Aug 2006drilling progress report● Neutral
Victoria reports Jingemia-8 at 2,281 m on 25 August, about to drill ahead toward the Dongara Sandstone at roughly 2,438 m. No new result. Restates the 4,000 bopd target and 4-8 million barrel potential.
24 Aug 2006drilling progress report● Neutral
Origin's weekly report shows Jingemia-8 (Victoria 5%) drilling ahead at 2,264 m, with surface casing set at 532 m. The target Dongara Sandstone is expected at about 2,438 m. No oil results yet.
24 Aug 2006drilling scheduled● Neutral
Victoria, as operator (40%), says Hunt Rig 3 is mobilising to Growler-1 in the Cooper Basin, with spud due 1 September to 2,079 m. The target is up to 9 million barrels, if oil is present. It starts a ten-well program over the next six months.
24 Aug 2006drilling progress report● Neutral
ARC re-releases Origin's weekly report: Jingemia-8 was drilling at 2,264 m on 24 August. Nothing new beyond the operator's report.
18 Aug 2006drilling progress report● Neutral
Primero-1 reached the base of the shallow gas formation at 493 m. Gas bearing zones are more numerous than expected, and two zones give most of the flow. The initial 2.8 mmcfd flare was uncertain; a later measure at 490 m was 0.655 mmcfd. Deeper 300 bcf targets are still to be drilled.
14 Aug 2006drilling spud● Neutral
Origin, operator of the Jingemia field (Victoria 5%), began drilling Jingemia-8 on 13 August, with 536 m of hole drilled so far. It targets the Dongara Sandstone at about 2,438 m, with a planned depth of 2,560 m. This is the development well scheduled for August.
14 Aug 2006drilling spud● Neutral
Partner ARC Energy (44.141%) re-releases the operator's Jingemia-8 spud news: drilling began 13 August to 536 m, targeting the Dongara Sandstone. Victoria holds 5%. It duplicates Origin's announcement and adds only ARC's comment on its rig.
14 Aug 2006drilling spud● Neutral
Victoria confirms Jingemia-8 started on 13 August (5% interest). Its managing director says success could lift gross field output to a targeted 4,000 bopd, and the field may hold 4-8 million barrels recoverable, subject to further drilling.
18 July 2006drilling result▲ GoodMajor
Primero-1 has found more shallow gas sands, 26 m thick versus 11 m expected, with flow rising with depth. The well is likely to be completed as a future gas producer. Deeper targets, including the 300 bcf Reids Dome Beds, are still to be drilled.
13 July 2006drilling result▲ GoodMajor
Primero-1 hit a strong shallow gas flow above 2.8 million cubic feet a day at 135-142 m, from a known formation. This is an early positive sign, not the deep 300 bcf target. Victoria holds 40% free carried.
12 July 2006drilling progress report● Neutral
Primero-1 has run and cemented 13 3/8 inch casing at 119 m, with blowout preventer installed and tested. Drilling resumes to 300 m. No new results.
28 June 2006drilling progress report● Neutral
Primero-1 has reached its first casing point at 119.6 m, with 13 3/8 inch casing being run. Air drilling resumes to 300 m afterwards. No results yet; the 300 bcf target remains 'if gas is present'.
21 June 2006drilling scheduled▲ Good
Updated schedule shows 7 wells planned in the next three months and 14 over six months, starting with Primero-1 and Banff-1 in late July. Timing depends on rig availability and approvals. Mainly restates known plans.
14 June 2006drilling spud▲ GoodMajor
Primero-1 began drilling on 12 June at Reids Dome (PEL 231), targeting up to 300 bcf of gas, if present, at 2,700 m. Victoria holds a 40% free carried interest. This starts the long-awaited White Sands Reids Dome well.
8 June 2006drilling progress report▼ Bad
Sun Resources relays that Eagle North-1 testing is still waiting for a completion rig and coiled tubing unit, delayed by heavy equipment demand in the Bakersfield area. No flow results. Sun holds 10% of the Eagle project.
8 June 2006drilling progress report▼ Bad
Victoria as operator says Eagle North-1 testing has not resumed because the completion rig and coiled tubing unit are not yet secured, blamed on Bakersfield equipment demand. Still no flow result, and the earlier 'encouraging' wording is gone. Up to 1,000 bopd remains the hoped-for rate.
23 May 2006drilling progress report● Neutral
Eagle North-1 production testing continues with 'encouragement' but no flow rates. The drilling rig is moving off so a cheaper completion rig can arrive, then a coiled tubing unit. Up to 1,000 bopd is still anticipated if successful; Victoria holds 20%.
23 May 2006drilling progress report● Neutral
Eagle North-1 testing continues with 'encouraging results' (no figures). The drilling rig was released 20 May; a completion rig and coiled tubing unit are being secured to continue the test. Still no flow rates.
16 May 2006drilling progress report● Neutral
Eagle North-1 lateral section has been perforated and testing is under way, but slowly because no coiled tubing unit or nitrogen is available. No flow rates reported yet.