Each one in plain English, with the numbers worked through for a shareholder.
24 June 2008asset acquisition disposition▲ GoodMajor
Victoria confirms PEL 88 renewed for 5 years and assignments approved. It now holds 50% and operates, with Enterprise Energy at 50%, completing the April agreement. The permit work program includes one well in year five.
23 June 2008well test result▲ Good
Bow, Don Juan operator, reports its Carnarvon-1 CSG pilot flowing gas after pumping water at 1,207 barrels a day. A 5-day test follows. Reserves booking is still targeted for the last quarter of 2008. Re-release of Bow's news; Victoria holds 45%.
23 June 2008asset acquisition disposition▲ Good
Enterprise Energy reports PEL 88 renewed for 5 years from 17 May 2008, with assignments approved. This completes the April deal: Victoria and Enterprise each hold 50%, with Victoria operator. Re-release of a partner's announcement.
23 June 2008well test result▲ Good
Victoria reports its first Don Juan CSG single-well pilot, Carnarvon-1 (45%), is flowing gas after pumping 1,207 barrels of water a day. Reserve booking is still aimed at late 2008. Preliminary talks with Bow cover selling some future gas to a possible LNG plant.
23 June 2008other● Neutral
AGL Energy lodges a substantial holder notice. Because it holds over 20% of QGC, it is deemed to have a relevant interest in Victoria through QGC's 19.24% stake. Administrative; no change for Victoria itself.
19 June 2008drilling scheduled● Neutral
Santos says Hudson-1 (Victoria 15%, fully carried) is delayed by 2 to 3 weeks after 80-100mm of rain damaged roads. It delays the early-June start previously expected. The well tests a prospect with a most likely 1.2 million barrels.
12 June 2008farm in farm out agreement▲ GoodMajor
Mosaic Oil can farm into Victoria's south-west Surat oil permits by funding seismic and up to three wells. After the farm-in, Victoria would keep 15.6% of Stratton, 19.297% of Rookwood and 7.5% of ATP 805P Southern Blocks, with Donga and Rookwood fields excluded.
11 June 2008investor presentation● Neutral
Corporate presentation for the Gold Coast Resources Showcase, 12-13 June. It states cash of about $16.2 million at 10 June, 320 million shares, a 28c share price and QGC at 19.24%. Mostly repeats known facts; cash reflects the QGC placement.
10 June 2008capital raising announcement▲ GoodMajor
Victoria places 41.75 million shares with Queensland Gas Company at 22.5 cents to raise $9.39 million for Surat Basin coal seam gas work. QGC becomes the largest shareholder at 19.24%, with gas marketing and technical advisory agreements.
What it means for a shareholder
41.8m new shares at A$0.225 to raise about A$9.4m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
30 May 2008drilling result▼ BadMajor
Origin confirms Freshwater Point 1 was plugged and abandoned at 1,817 m, with no hydrocarbons interpreted from logs in the target sandstones. It is a dry hole for the 5% interest.
30 May 2008drilling result▼ Bad
ARC Energy re-releases Origin's 30 May update: Freshwater Point 1 plugged and abandoned with no hydrocarbons interpreted. Victoria holds 5%. No new information.
30 May 2008drilling result▼ Bad
Norwest Energy re-releases Origin's 30 May update: Freshwater Point 1 plugged and abandoned with no hydrocarbons interpreted. Victoria holds 5%. No new information.
30 May 2008drilling result▼ BadMajor
Victoria confirms Freshwater Point 1 (5%) was plugged and abandoned with no hydrocarbons. The Managing Director says other prospects remain in the permit, and drilling now shifts to Hudson-1 in Queensland, expected to start next week.
27 May 2008drilling result▼ Bad
Victoria relays Origin's update: Freshwater Point 1 (5%) reached 1,817 m, with the High Cliff Sandstone at about 1,647 m. No hydrocarbon shows were encountered, and logging is next.
26 May 2008investor presentation● Neutral
Corporate presentation for the Sydney Excellence in Oil and Gas conference, 26-27 May. It states cash of $9 million at 31 March 2008, about 278 million shares, and QGC 7.1% and Odin 18% as substantial holders. Repeats known facts.
26 May 2008drilling result▼ Bad
ARC Energy re-releases Origin's 26 May update: Freshwater Point 1 reached 1,817 m with no hydrocarbon shows in the target sandstones. Victoria holds 5%. No new information.
26 May 2008drilling result▼ Bad
Norwest Energy re-releases Origin's 26 May update: Freshwater Point 1 reached 1,817 m with no hydrocarbon shows in the target sandstones. Victoria holds 5%. No new information.
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%.
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 2008director officer appointment● Neutral
Andrew Dimsey is appointed alternate director to non-executive directors Alex Bajada and Anthony Short, who are linked to Odin. Administrative.
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.
19 May 2008production update● Neutral
Impress says Growler is making about 200 bopd, with over 11,000 barrels produced and pump problems, mainly on Growler-1. The test may extend to 150 days, and productivity confirmation stays at Q3 2008. P50 recovery remains 1.6 million barrels.
19 May 2008production update● Neutral
Victoria as operator reports Growler producing 200-210 bopd, over 11,000 barrels since 13 March. Pump problems at Growler-1 are being fixed. The test now runs 180 days with initial analysis after 100 days; Growler-3 is recommended before year end.
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.
