Each one in plain English, with the numbers worked through for a shareholder.
23 Feb 2006drilling progress report● Neutral
Sun Resources relays that Eagle North-1 testing should start late 24 February California time, perforating 4,143.7-4,163.6 metres for a five-day flow test. Success would lead to a 300 metre horizontal side-track. No flow result yet.
21 Feb 2006drilling progress report▲ Good
Mirage-2 is running a cement bond log before the completion string. Cores from 1,322-1,337 metres show oil saturations similar to producing Mirage-1; a short flow test will judge commercial potential. Gross output is 380 bopd versus a 1,000 bopd mid-2006 target.
21 Feb 2006drilling result▼ Bad
Victoria confirms Geordie-1 (10%) found no commercial hydrocarbons at 2,475.8 metres and will be abandoned, the first of its 8-well 2006 Cooper program. Management says minor shows prove hydrocarbons are present in PEL 88 and remains confident of a future oil pool.
21 Feb 2006drilling result▼ BadMajor
Geordie-1 is a dry hole: logs and sidewall cores at 2,475.8 metres showed no commercial hydrocarbons and it will be plugged and abandoned. The first of Victoria's 8-well 2006 Cooper program fails; Victoria held 10%.
21 Feb 2006drilling progress report▲ Good
Eagle North-1 casing is cemented at 4,217 metres; about four days of preparation precede flow testing of the Gatchell sand. Logs show up to 13.4 metres net oil pay, similar to Mary Bellocchi-1; up to 1,000 bopd anticipated if a horizontal side-track succeeds. No flow yet.
21 Feb 2006drilling result▼ Bad
Enterprise Energy (10% partner) repeats the operator's report: Geordie-1 at 2,475.8 metres found no commercial hydrocarbons and will be plugged and abandoned. Nothing new.
21 Feb 2006drilling result▼ Bad
Sundance, a 45% partner, repeats that Geordie-1 logs and sidewall cores showed no commercial hydrocarbons and the well will be plugged and abandoned. Nothing new for Victoria, which holds 10%.
20 Feb 2006drilling progress report▲ Good
Victoria reports 7 inch casing run to 4,217 metres at Eagle North-1; about four days of preparation precede flow testing. Refined logs give up to 13.4 metres net oil pay (4,143-4,164 m), up from 7 metres. Flow rate still unproven.
20 Feb 2006drilling progress report● Neutral
Sundance repeats the operator's report: Geordie-1 reached a revised total depth of 2,475.8 metres with only minor hydrocarbon indications in the Poolowanna and Tinchoo, to be checked by wireline logs.
20 Feb 2006drilling progress report● Neutral
Enterprise Energy repeats the operator's report: Geordie-1 at revised total depth of 2,475.8 metres, only minor hydrocarbon indications, wireline logs to follow. Nothing new.
20 Feb 2006drilling progress report● Neutral
Victoria reports Geordie-1 reached total depth of 2,475.8 metres with minor hydrocarbon shows in the Poolowanna and Tinchoo; logs are being run. Victoria holds 10%. No result yet.
20 Feb 2006drilling progress report● Neutral
Mirage-2 has 7 inch casing set and the rig is nippling up the blowout preventer; it is being completed as a potential Murta oil well. A short flow test will assess commercial production. No flow result yet.
20 Feb 2006drilling progress report● Neutral
Operator reports Geordie-1 reached revised total depth of 2,475.8 metres with only minor hydrocarbon indications in the Poolowanna and Tinchoo. Wireline logs will evaluate them. Victoria holds 10%.
20 Feb 2006drilling progress report▲ Good
Sun Resources relays that 7 inch casing is set at 4,217 metres on Eagle North-1 and flow testing is expected to start late Thursday. Refined log analysis lifts net oil pay to up to 13.4 metres (4,143-4,164 m), from 7 metres.
17 Feb 2006drilling progress report● Neutral
Enterprise Energy repeats the operator's Geordie-1 report: 2,138 metres, 178 metres drilled in 24 hours, Tinchoo expected Saturday. Nothing new.
17 Feb 2006drilling progress report● Neutral
Sundance repeats the operator's Geordie-1 report: 2,138 metres, drilling ahead through the Poolowanna, with the Tinchoo target expected Saturday. Nothing new.
17 Feb 2006drilling progress report● Neutral
Operator Cooper Energy reports Geordie-1 at 2,138 metres, drilling ahead through the Poolowanna, with the Tinchoo target expected Saturday. No result yet.
17 Feb 2006drilling result▲ Good
Lakes Oil (15% partner) repeats Victoria's report that Eagle North-1 logs indicate oil in the Gatchell sand, 7 metres net pay over 4,136-4,157 metres. Nothing new.
17 Feb 2006drilling result▲ GoodMajor
Sun Resources relays that Eagle North-1 logs show about 7 metres of net oil pay in the Gatchell sand (4,136-4,157 m), similar to the 1986 Mary Bellocchi-1 well. Casing and a test follow next week. A first positive sign, not yet a flow result.
17 Feb 2006drilling result▲ GoodMajor
Victoria says Eagle North-1 logs indicate oil in the Gatchell sand, 7 metres net pay in a 21 metre interval (4,136-4,157 m), resembling Mary Bellocchi-1. It will be cased and tested over about 8 days; a horizontal side-track could flow up to 1,000 bopd. Oil not yet flowed.
17 Feb 2006drilling progress report● Neutral
Victoria repeats the operator's Geordie-1 update: drilling ahead at 2,138 metres. Victoria holds 10%. No result yet.
17 Feb 2006drilling result▲ Good
Mirage-2 logging is complete and the well will be cased as a potential Murta oil producer, with a short flow test to follow. Preliminary core oil saturations remain similar to producing Mirage-1. First of three development wells; no flow rate yet.
16 Feb 2006drilling progress report● Neutral
Enterprise Energy repeats the operator's Geordie-1 report: 1,960 metres, 250 metres drilled in 24 hours, Hutton objective expected today. Nothing new.
16 Feb 2006drilling progress report● Neutral
Mirage-2 reached total depth of 1,655 metres, short of the 1,687 metre plan, and is being logged. The earlier preliminary Murta oil shows (1,322-1,337 m) are repeated; logs and core analysis will test them. Gross production is quoted at 380 bopd.
16 Feb 2006drilling progress report● Neutral
Operator reports Geordie-1 at 1,960 metres in the basal Birkhead section, with the Hutton objective expected today. Victoria holds 10%. No result yet.
16 Feb 2006drilling progress report● Neutral
Victoria repeats the operator's Geordie-1 update: drilling ahead at 1,960 metres. Victoria holds 10%. No result yet.
16 Feb 2006drilling progress report● Neutral
Victoria reports Eagle North-1 reached total depth of 4,219 metres and is pulling out to run wireline logs on the gas show; results are expected in 12-18 hours. Oil is still unconfirmed.
16 Feb 2006drilling progress report● Neutral
Sun Resources reports Eagle North-1 reached total depth of 4,219 metres and is being logged to assess the 4,167-4,175 metre gas show. Log results are expected within 24 hours, then a JV decision on testing.
16 Feb 2006drilling progress report● Neutral
Sundance repeats the operator's report: Geordie-1 at 1,960 metres, Hutton objective expected today. Nothing new.
15 Feb 2006drilling progress report● Neutral
Operator reports Geordie-1 drilling ahead at 1,710 metres, with the Hutton target expected Thursday. Victoria holds 10%. No result yet.
