Each one in plain English, with the numbers worked through for a shareholder.
30 July 2007well test result▼ Bad
First West Florence-1 test, of the lowest Dakota zone, recovered gas too small to measure, with water. Management calls it non-commercial but evidence of gas. Upper zones and the Muddy J remain to be tested. Victoria holds 25%.
30 July 2007drilling progress report● Neutral
7 inch casing is set at 1,827 m in Growler-2 and the rig is preparing to production test the 15 m oil column. No test result yet.
27 July 2007drilling progress report● Neutral
Santos is rigging up to cased-hole test Wilpinnie-4, perforating a 9.8 m interval (1,482.5-1,492.3 m) of the Tomcat oil zone, with results to follow. Victoria holds 20%; the test will indicate how far Tomcat oil extends into PEL 115.
27 July 2007drilling progress report● Neutral
Growler-2 has 7 inch casing being run to production test the 15 m oil column (1,722-1,737 m), with the test expected in about three days. Repeats the prior day's news; no new result.
26 July 2007drilling progress report● Neutral
Cased-hole production test is being rigged up at Wilpinnie-4/Tomcat, which earlier flowed 144 bopd from an 18 m oil column. The test will cover the upper zone and a deeper zone. Victoria holds 20%; estimated recoverable volume 3.5 mmbbl (P50).
26 July 2007drilling progress report● Neutral
Growler-2 is conditioning the hole to run 7 inch casing for a production test of the 15 m oil column, still expected in about three days. No new result.
25 July 2007drilling result▲ GoodMajor
Growler-2 logs and side-wall cores show a 15 m gross oil column at 1,722-1,737 m in the Birkhead, reservoir similar to or better than Growler-1. With Growler-1, oil column is at least 18 m. Total depth 1,829 m; testing yet to come.
25 July 2007drilling progress report● Neutral
Partner Fall River repeats that production testing is starting at West Florence-1, with three zones totalling 9.1 m net gas pay to be tested. Fall River holds 15%. Duplicate of Victoria's release.
25 July 2007drilling progress report▲ Good
Victoria is running 7 inch casing at Growler-2 to production test the 15 m gross oil column (1,722-1,737 m), with the test expected in about three days. Total depth 1,829 m. Flow rate is the next key result.
24 July 2007drilling progress report● Neutral
Production testing is starting at West Florence-1 (Victoria 25%), with 4.5 inch casing set at 1,956 m. Three zones in 1,861-1,879 m, with 9.1 m net gas pay by logs, will be tested. Oil shows in other formations are not being tested.
24 July 2007drilling progress report● Neutral
Growler-2 is pulling out of the hole to run electric logs over the oil shows seen at 1,715-1,760 m; total depth is stated as 1,804 m. No new result yet.
23 July 2007drilling result▲ Good
Victoria confirms the Growler-2 18 m core had good reservoir sands and oil shows, with shows continuing to 1,760 m. Drilling continues toward a planned 1,810 m, with logs to judge significance. Repeats Impress's news.
23 July 2007drilling result▲ Good
Growler-2 cut an 18 m core (1,721-1,739 m) showing fair to good reservoir sands with oil staining, fluorescence and cut, and shows continued to 1,760 m. Impress reports total depth 1,780 m and logs are next. Encouraging, but not yet a confirmed oil column.
20 July 2007drilling progress report● Neutral
Impress reports Growler-2 repairs done and the hole circulated clean; the rig is pulling out to pick up the core barrel for Core 1. Repeats Victoria's news; no new result.
20 July 2007drilling progress report● Neutral
Growler-2 rig repairs are complete and a wiper trip is under way ahead of cutting Core #1 at 1,721 m. No new result.
19 July 2007drilling progress report● Neutral
Growler-2 rig repairs are now expected to finish within 24 hours, before coring at 1,721 m. Resource boilerplate repeated; no new result.
18 July 2007material agreement▲ Good
Victoria repeats Strike Oil's news that Defence commissioned a Rivoli gas field development study (about 8 PJ over 20 years, first gas possibly 2009). Victoria holds 36.1% of EP325 and says it may spur exploration in nearby EP 359. Duplicate of Strike's release.
18 July 2007drilling progress report● Neutral
Growler-2 rig repairs continue before coring at 1,721 m, now due to finish later this week. Oil shows at 1,715-1,721 m and resource figures are repeated; no new result.
18 July 2007other● Neutral
Strike Oil, operator of permit EP325, said the Department of Defence commissioned a FEED study on supplying about 8 PJ of Rivoli gas over 20 years to power the Exmouth Defence station. First gas could come in 2009 if approved; Victoria holds 36.1% of the permit.
18 July 2007material agreement▲ GoodMajor
Operator Strike Oil was commissioned by the Department of Defence to study supplying about 8 PJ over 20 years from the Rivoli gas field near Exmouth, with first gas possible in 2009 if approved. Victoria holds 36.1% of EP325. Feasibility only; no approval or price yet.
17 July 2007well test result▲ Good
Partner Sun repeats the Dona Carlota-1 open flow of 20.5 mmcfd, with initial sales of 1+ mmcfd expected at end July. Climaco-1 is drilling at 1,106 m. Victoria holds 20%.
17 July 2007well test result▲ Good
Dona Carlota-1 tested at a calculated open flow of 20.5 million cubic feet a day, though initial sales are expected at only about 1 mmcfd when connected at end July. Net pay is 5.6 m. Climaco-1 is at 1,106 m. Victoria holds 20%.
17 July 2007drilling progress report● Neutral
Growler-2 rig repairs continue ahead of coring at 1,721 m, expected to finish later this week. No change from the previous day.
16 July 2007drilling progress report▼ Bad
Growler-2 rig repairs are still under way, now expected to finish later this week, so the Birkhead core is further delayed. Resource boilerplate repeated; no new result.
16 July 2007drilling spud● Neutral
Climaco-1, the last and largest well of the Margarita shallow gas program (1.6 bcf mean, planned 1,980 m), began drilling 12 July. Victoria holds 20%. Follows the Donna Carlota-1 and Agavero-1 gas discoveries.
16 July 2007drilling progress report● Neutral
Partner Sun reports Climaco-1 began drilling 12 July and was at 838 m. Repeats Victoria's release; Victoria holds 20%.
13 July 2007drilling progress report● Neutral
Growler-2 rig repairs continue ahead of coring at 1,721 m. No change from the previous day's report.
12 July 2007drilling progress report▼ Bad
Impress reports a sheared rig drive shaft at Growler-2 found after pulling out of the hole. Repairs could take up to four days before the Birkhead core is cut. A delay to the appraisal result.
12 July 2007drilling progress report▼ Bad
Victoria confirms Growler-2 rig repairs are under way before coring at 1,721 m; oil shows were seen at 1,715-1,721 m. Repeats the Impress news; resource boilerplate unchanged.
11 July 2007drilling progress report▲ Good
Growler-2 reached 1,721 m and saw fluorescence (an oil indicator) from 1,715-1,721 m in the Birkhead reservoir. The rig is pulling out to cut an 18 m core. Early sign only; no flow or oil column confirmed yet.
