Each one in plain English, with the numbers worked through for a shareholder.
30 Oct 2007annual report● Neutral
2007 annual report. The supplied text is truncated, so no financial statements are available. The managing director's letter estimates calendar 2007 net revenue of $5m (against $6.9m in 2006) and $7m in 2008, with Growler starting at up to 300 bopd in December.
22 Oct 2007well test result● Neutral
Fall River (15% partner) repeats that West Florence-1 started oil production on pump at 32 bopd plus 101 barrels of water from the Codell. A second well targeting the Pierre Shale is planned. Repeats the operator's update.
22 Oct 2007well test result● Neutral
Partner Adelaide Energy (15%) repeats that West Florence-1 began producing 32 bopd with 101 barrels of water, with a higher oil rate expected as water handling is added. Repeats the operator's update.
22 Oct 2007production update▲ GoodMajor
West Florence-1 in Colorado began oil production on pump at 32 bopd and 101 barrels of water from the Codell, following the October pump plan. A Pierre Shale well and a 3D seismic survey are planned. Victoria holds 25%.
18 Oct 2007joint venture update● Neutral
Greenearth Energy, the geothermal company 16.33% owned by Victoria, signed a non-binding agreement with RMIT to plan geothermal technology work and seek grants. Greenearth plans to list in December 2007, with an entitlement for Victoria shareholders.
17 Oct 2007farm in farm out agreement▲ GoodMajor
Formal farm-in agreement signed with Santos and Avery for ATP 752P, firming up the August letter of intent. Seven wells plus at least 300 sq km of 3D seismic (about $18.5m) fully carried; Victoria keeps 15%. Santos operates, first wells from Q1 2008.
9 Oct 2007other● Neutral
Cover letter to shareholders with an October 2007 status report: 14 Cooper Basin wells planned over 12 months, Growler production in December, and coal seam gas drilling at Don Juan from October. Also offers electronic annual reports. Largely repeats known plans.
5 Oct 2007well test result● Neutral
Partner Adelaide Energy repeats that West Florence-1 will go on pump in coming days and a further well is planned, likely air-drilled to the Pierre formation only. Repeats the operator's update.
2 Oct 2007drilling result▼ Bad
Impress confirms Ascender-1 reached 2,093 m with no hydrocarbon indications over the primary targets, and the well is being plugged. Its CEO points to Gannet, Warhawk and a Growler extended production test by year end. Repeats the operator's dry result.
2 Oct 2007drilling result▼ BadMajor
Ascender-1 was dry: logs and cores found no hydrocarbons in the Birkhead sand at 1,726 m, and it will be plugged at 2,093 m. Victoria (40%) now focuses on starting Growler at about 300 bopd in December 2007, then Gannet and Warhawk in 1H 2008.
2 Oct 2007well test result▲ Good
Swabbing at West Florence-1 finished, recovering oil and water from four zones between 5,400 and 5,700 ft; a pump goes in during October 2007 to produce from the Codell. A further well is planned. Victoria holds 25%.
28 Sept 2007drilling progress report▼ Bad
Impress reports Ascender-1 at 1,919 m, nine days after spud, with no shows observed. Drilling continues to the 2,100 m target depth, then logging.
28 Sept 2007drilling progress report▼ Bad
Ascender-1 at 1,919 m showed no oil in the primary Birkhead sandstone; the managing director called results 'not encouraging', to be confirmed by logs and cores. Gannet and Warhawk are still planned for first half 2008.
27 Sept 2007drilling progress report● Neutral
Ascender-1 was drilling at 1,653 m, approaching the primary Birkhead sandstone target at 1,695 m. Routine progress; no result yet.
27 Sept 2007annual report● Neutral
Annual financial report for the year to 30 June 2007. The supplied text is truncated after the directors' report introduction, so no financial figures are available here; the board is unchanged (Pett, Kopcheff, Hoops, Wrixon).
26 Sept 2007drilling progress report● Neutral
Ascender-1 was drilling at 1,404 m. Target depths are given: Birkhead 1,695 m, Namur 1,466 m, Hutton 1,725 m. Routine progress; no result yet.
25 Sept 2007drilling progress report● Neutral
Ascender-1 was drilling ahead at 994 m in 8½ inch hole. Routine progress; no result yet.
25 Sept 2007drilling progress report● Neutral
Impress reports Ascender-1 drilling ahead at 994 m, five days after spud, with surface casing set at 656 m. Repeats the operator's report; no result.
24 Sept 2007drilling progress report● Neutral
Ascender-1 had drilled to 659 m and set 9 5/8 inch casing at 656 m, preparing to drill ahead. Routine progress; no result yet.
21 Sept 2007drilling spud● Neutral
Victoria Petroleum, as operator, reports Ascender-1 began drilling 20 September 2007 in PEL 111, at 160 m by morning. Targets are Birkhead (P50 recoverable 2.6 mmbbl), Hutton and Namur. Duplicates the earlier Impress spud notice; Victoria holds 40%.
21 Sept 2007drilling spud● NeutralMajor
Impress reports Ascender-1 spudded 20 September in PEL 111 on Ensign Rig 20, to 2,100 m, about 16 days. It is the first PEL 111 well and the next step along the Jurassic oil fairway north of Growler. Birkhead P50 recoverable is 2.6 mmbbl.
20 Sept 2007production update▲ Good
Further Flour Bluff workover success: D-13 raised to 1.86 mmcfd gas equivalent, Smith #1 added 0.31 mmcfd, with about 2.5 mmcfd added in total. D-24 fracture stimulation is now set for December 2007.
10 Sept 2007director officer appointment● Neutral
Lakes Oil and Victoria, each holding 33% of Greenearth Energy, announced Simon Molesworth AM QC as non-executive chairman of Greenearth. Greenearth is working toward an IPO later in the year, consistent with the earlier capital raising plan.
10 Sept 2007drilling result▼ BadMajor
Lancer-1 was plugged and abandoned; a Permian oil show was seen but judged non-commercial. Another dry result for Victoria's 40% PEL 115 program. The rig moves 220 km to Ascender-1 in PEL 111, starting in about ten days.
7 Sept 2007drilling progress report▼ Bad
Lancer-1 reached total depth of 2,170 m and was preparing wireline logs. No hydrocarbon shows were observed while drilling; sidewall cores will give the final answer.
6 Sept 2007drilling progress report▼ Bad
Lancer-1 was at 2,165 m with no hydrocarbon shows seen in any target while drilling. Sidewall cores at total depth will give the final evaluation. Early sign is unfavourable.
5 Sept 2007investor presentation● Neutral
Corporate presentation for the Good Oil Conference repeats known projects. It states a 14c share price, $32m market cap, $8.3m cash and investments at 30 June 2007, no debt, and 26 wells planned over 18 months.
5 Sept 2007drilling progress report● Neutral
Lancer-1 was drilling at 2,028 m in the Patchawarra sand target. Routine progress; no result yet.
4 Sept 2007drilling progress report● Neutral
Lancer-1 was drilling at 1,773 m, now targeting the Patchawarra sand. Routine progress; no result.
3 Sept 2007drilling progress report● Neutral
Lancer-1 was drilling ahead at 1,500 m in 8½ inch hole toward the 2,260 m target. Routine progress; no result.
