Each one in plain English, with the numbers worked through for a shareholder.
8 May 2007drilling progress report● Neutral
Fall River Resources, a West Florence partner, re-releases the spud news: drilling at 502 m. It lists Victoria at 25% and Fall River at 15%, with a table that differs slightly from Victoria's. Duplicate of Victoria's release.
7 May 2007flow test result▲ GoodMajor
Impress reports that re-perforating Growler-1 lifted stabilised flow to 30 bopd from the 20-25 bopd of the November 2006 test. It expects about 160 bopd initially on pump, possibly over 250 bopd if it cleans up. Growler-2 is about to start.
7 May 2007drilling spud▲ GoodMajor
West Florence-1, a new Colorado well operated by Mountain Petroleum, began drilling 3 May 2007 and is at 502 m. Victoria holds 25% in a new US project; target is 100-200 bcf of gas, plus about 5 mmbbl oil in each of three formations if present.
4 May 2007drilling result▲ Good
Victoria confirms Wirraway-1 is completed as an oil producer after perforation and a clean-up flow test; no flow rate is given and analysis is pending. The rig is moving to Growler-2. Victoria holds 40% and operates.
4 May 2007drilling progress report▲ Good
Impress Energy says Wirraway-1 has been completed as a future oil producer and a flow test was run to clean up fluids; productivity analysis is pending. The rig was released 3 May and is moving to Growler-2.
3 May 2007drilling progress report● Neutral
Victoria reports Wirraway-1 is running perforating guns ahead of a short production test; Growler-2 follows. Largely repeats earlier updates. Routine update with no new result.
3 May 2007drilling progress report● Neutral
Re-release of Victoria's 3 April pre-spud announcement (dated 3 April in the text) for Wirraway-1, giving a 7.6 million (P50) to 12.6 million barrel (P10) target. Superseded by the discovery since; no new information.
3 May 2007drilling progress report● Neutral
Impress Energy reports Wirraway-1 is pressure testing the Christmas tree after perforating guns were run; the rig then moves to Growler-2. Routine update with no new result.
2 May 2007drilling progress report● Neutral
Impress Energy reports Wirraway-1 is running the completion string and perforating guns, with a cement bond log done. Routine update with no new result.
2 May 2007drilling progress report● Neutral
Victoria reports Wirraway-1 is running 2 7/8 inch tubing ahead of a short production test; Growler-2 follows. Repeats earlier statements, including the 7.6 million barrel target. Routine update with no new result.
1 May 2007drilling progress report● Neutral
Victoria says Wirraway-1 is preparing a short production test after 7 inch casing was cemented at 1,818 m; Growler-2 follows. Management cites a 100% exploration success rate in PEL 104. Routine update with no new result.
1 May 2007drilling progress report● Neutral
Impress Energy reports Wirraway-1 at 2,048 m is running a casing scraper before a cement bond log and completion with perforating guns. Routine update with no new result.
30 Apr 2007investor presentation● Neutral
Corporate presentation for the SA Resources & Energy Investment Conference, 1 May 2007, pitching Victoria as a major explorer and growing oil producer in the South Australian Cooper Basin. Opens with general oil-demand themes; no new results visible in the text.
30 Apr 2007drilling progress report● Neutral
Impress Energy reports 7 inch casing cemented at 1,818 m at Wirraway-1 after weather delays; a short production test is next. Routine update with no new result.
30 Apr 2007drilling progress report● Neutral
Wirraway-1 has 7 inch casing cemented at 1,818 m and is preparing a short production test as an oil producer; Growler-2 follows. The stated pre-drill target is now 7.6 million barrels. Routine update with no new result.
27 Apr 2007drilling progress report● Neutral
Impress Energy reports Wirraway-1 at 2,048 m is setting a plug and preparing to run 7 inch casing before a short production test. Routine update with no new result.
27 Apr 2007drilling progress report● Neutral
Wirraway-1 is preparing to run 7 inch casing to complete as an oil producer; the rig then moves to Growler-2. The pre-drill target is now stated as up to 4 million barrels, versus 13 million earlier. The 2007 program is described as fourteen wells.
26 Apr 2007regulatory community update▲ GoodMajor
Greenearth Energy, one-third owned by Victoria, was awarded geothermal permits GEP 12 and GEP 13 covering the Latrobe Valley. This resolves the open permit thread; a capital raising with entitlements to shareholders is envisaged later this year, not Q1 as earlier expected.
26 Apr 2007well test result▲ GoodMajor
Wirraway-1 DST-2 recovered 7 barrels of 47.5 API oil at a stabilised 67 bopd, no water, from the 17 m column, resolving the earlier misrun. The well will be completed as an oil producer, then the rig moves to Growler-2. Victoria holds 40%.
26 Apr 2007regulatory community update▲ Good
Lakes Oil says Greenearth Energy, in which it holds 30%, won two geothermal exploration permits (GEP 12 and 13) covering the Latrobe Valley. Capital raising for Lakes and Victoria shareholders is envisaged later this year. Duplicates Victoria's release.
26 Apr 2007well test result▲ Good
Impress Energy reports Wirraway-1 DST-2 over 1,719-1,742 m recovered 7 barrels of 47.5 API oil, a stabilised 67 bopd with no water. Well to be cased for a short production test; Impress calls it a second Western Margin discovery.
24 Apr 2007drilling progress report▲ Good
Impress Energy reports logging at Wirraway-1 suggests a 17 m gross oil column over 1,725-1,737 m in the lower Birkhead. Preliminary interpretation; testing program to be decided. Duplicates Victoria's release, which gives the interval as 1,725-1,742 m.
24 Apr 2007drilling result▲ GoodMajor
Preliminary logs, pressure and sidewall core data indicate Wirraway-1 intersected a 17 m gross oil column (1,725-1,742 m) in the Birkhead, and oil was recovered on wireline testing. Testing over five days follows; Victoria holds 40%.
23 Apr 2007drilling progress report● Neutral
Impress Energy reports Wirraway-1 reached total depth of 2,048 m (deeper than the 1,991 m planned) and is running wireline logs. Oil shows over 1,717-1,749 m are still to be evaluated.
23 Apr 2007drilling progress report● Neutral
Wirraway-1 reached total depth of 2,048 m and is being wireline logged to assess oil shows over 1,717-1,749 m. No result yet; Victoria operates with 40%.
20 Apr 2007drilling progress report● Neutral
Wirraway-1 is drilling ahead at 1,879 m in the Hutton Sandstone, with good oil shows over 1,717-1,749 m in the Birkhead. Significance awaits logs and testing; Victoria holds 40%.
20 Apr 2007drilling progress report● Neutral
Impress Energy reports Wirraway-1 at 1,879 m with good oil shows across 1,717-1,749 m, weaker below 1,739 m. Evaluation awaits logs and testing. Routine update with no new result.
19 Apr 2007drilling progress report● Neutral
Impress Energy reports Wirraway-1 drilling at 1,735 m after DST-1 plugged (tool plugging seen at surface), with oil shows continuing. Evaluation awaits logs and testing at total depth. Duplicates Victoria's release.
19 Apr 2007joint venture update▲ GoodMajor
Margarita shallow program: Dos Dedos #1 and Milagro #1 are producing or about to; El Viejito #1 suspended after water inflow. Empyrean now funds three more shallow wells from mid-May to end July. Cumulative rate about 0.5 million cubic feet a day; Victoria keeps 20%.
19 Apr 2007drilling progress report● Neutral
Victoria confirms DST-1 at Wirraway-1 was a misrun (tool plugged on opening); drilling continues at 1,735 m with good oil shows. Testing awaits total depth of 1,991 m. Victoria holds 40%.
