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.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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 2008agm notice● Neutral
Chairman's letter encloses notice of a 25 June general meeting. It seeks a new constitution and a rise in the non-executive director fee cap from $120,000 to $250,000. Administrative.
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.
12 May 2008drilling spud● Neutral
Origin's release on Freshwater Point 1, Perth Basin, spudded 11 May, with 12¼-inch hole to 414 m. Planned depth is 1,761 m in about 10 days. Victoria holds 5%. Re-release of the operator's announcement.
12 May 2008drilling spud● Neutral
Freshwater Point 1 (EP 413, Victoria 5%) spudded on 11 May, targeting the High Cliff Sandstone. Victoria puts the mean prospect at 9 bcf gas or 6.1 million barrels of oil, with P10 of 19 bcf or 13 million barrels. It is a risky exploration well.
12 May 2008drilling spud● Neutral
ARC Energy re-releases Origin's announcement that Freshwater Point 1 spudded on 11 May (Victoria 5%). It carries no new information.
9 May 2008drilling result▼ Bad
Victoria relays Bow's Donga-4 result in ATP 805P (Victoria 15%): the swab recovered 27.5 barrels, mostly completion fluid with no hydrocarbons. The well is suspended, and stimulation may be considered later. Duplicate of the Bow release.
9 May 2008drilling result▼ Bad
Bow's Donga-4 swab test in ATP 805P recovered 27.5 barrels of mostly completion fluid and no hydrocarbons. The well is suspended. The reservoir appears tight or compartmentalised and unlikely to flow commercially without stimulation. Victoria holds 15%.
6 May 2008drilling result▲ GoodMajor
Cuisinier-1 is an oil discovery: 6 m net pay in the Murta Formation, cased as a producer. Production is expected early Q3 2008 via Santos infrastructure. It is Victoria's first Queensland Cooper oil producer, and Hudson-1 is due in June.
29 Apr 2008investor presentation● Neutral
Corporate presentation for the 1 May SA Resources & Energy conference, with oil price context and Cooper Basin oil and Surat Basin CSG focus. It repeats known facts; no new results are visible in the supplied text.
29 Apr 2008quarterly activities report● Neutral
March quarter report: QGC and Odin joined the register, and up to 14 Cooper wells and 16 CSG wells are planned for 2008. Paradise Downs desorption shows 4-5.5 m3/tonne gas content. Cuisinier-1 drilling began; PEL 115 farm-in talks continue. Text is truncated, so financials are not shown.