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.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.
27 July 2009flow test result▲ GoodMajor
Snatcher-1 flowed clean 48 degree API oil at 218 bopd on a 12/64 inch choke in a short test, which continues another week. Snatcher-2 is expected to spud in about a week. A modest rate that adds to Growler output.
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.
7 July 2009production update▲ Good
Construction of the Growler facility upgrade to 2,000 barrels of fluid per day is complete, and rate testing is under way. This continues the early-June upgrade; no new production rate is given yet.
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.
29 June 2009director officer appointment● Neutral
Non-executive director Bernard Wrixon, on the board since 2000, has resigned for personal reasons. No replacement is mentioned.
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.
9 June 2009investor presentation● Neutral
Corporate presentation to a Brisbane investors club repeats known facts: about $20m cash at 31 March, no debt, $6m a year oil revenue, 368m shares and a 40c share price. It notes exercise of the January 2010 options would add $15m. Nothing new.
29 May 2009asset acquisition disposition● NeutralMajor
Victoria agrees to sell all its onshore Carnarvon Basin WA interests (EP 325, 359, 433, 434, 406) to Empire, subject to WA government approval. It frames this as focusing on Surat CSG and Cooper Basin oil, with Snatcher-1 due to spud mid June.
29 May 2009asset acquisition disposition● NeutralMajor
Empire Oil & Gas, through Rough Range Oil, says it is buying Victoria's Carnarvon Basin permits: EP 359 (63.30%, including the Bee-Eater prospect), EP 325 (36.1%, Rivoli gasfield), EP 433, EP 434 and EP 406. Price is not stated in the text.
20 Apr 2009capital raising announcement● Neutral
Administrative notice: 37,900 shares issued on exercise of listed options at 25 cents each, a trivial amount of about $9,500. Shares on issue rise to 368,218,564.
17 Apr 2009production update▲ Good
Impress says Growler passed 200,000 barrels produced, with three wells making about 920 bopd, held back by facilities. Upgrade due early June; Growler-1 and -2 then return, lifting output initially to about 1,500 bopd. Snatcher-1 is expected to spud mid May.
16 Apr 2009joint venture update▲ Good
Victoria reports that Don Juan 2P testing showed high coal permeability, so the joint venture is doubling the program from three to six wells to expand the area that can move from 3P to 2P. MHA's verification of the first three wells is due within a month.
16 Apr 2009joint venture update▲ Good
Bow (Don Juan operator) reports the first three-well test showed high coal permeability and is doubling the program to six wells to convert more 3P to 2P. It also accelerates its own Bowen Basin blocks, which Victoria doesn't hold.