Each one in plain English, with the numbers worked through for a shareholder.
24 Jan 2007drilling progress report● Neutral
Victoria repeats Bow's news that Marracoonda-2 reached 1,775 m with minor shows not tested, and that most of the crew has left because of flooding. Victoria remains fully carried at 25%. No commercial result yet.
24 Jan 2007other● Neutral
Beach Petroleum weekly drilling table, a third-party report. It shows Wilpinnie-4 at 1,586.8 m with DST-2 plugged, and notes that rain and road closures are delaying Cooper Basin drilling. It adds nothing new.
22 Jan 2007drilling progress report● Neutral
Marracoonda-2 had good to excellent oil shows, but the first drill stem test recovered 74 barrels of fluid, only about 5% oil. Drilling continues to 1,900 m, and flooding may delay the rig move to Gamma-1. Victoria stays fully carried at 25%.
22 Jan 2007well test result● Neutral
Marracoonda-2 had good to excellent oil shows at 1,686-1,692.5 m, but the drill stem test recovered 74 barrels of fluid, only about 5% oil and the rest mud and water. Drilling continues to 1,900 m, and flooding may delay the move to the next well.
22 Jan 2007well test result● Neutral
Wilpinnie-4 DST-2 plugged on opening and gave no new information. The well reached 1,587 m, and logs show a gross oil zone of 1,476-1,494 m. DST-1's estimated 144 bopd stands. Further evaluation is in progress.
19 Jan 2007drilling progress report● Neutral
Bow says Marracoonda-2 was at 1,684 m waiting on rig repairs, with the Hutton sandstone expected near 1,691 m. Minor oil shows in shallower units were not enough to test. Gamma-1 then Nora-1 follow.
19 Jan 2007well test result● Neutral
Victoria confirms Wilpinnie-4 DST-1 was only partial after the packer seat was lost, with an estimated 24 barrels of oil influx (144 bopd). DST-2 over 1,468-1,489 m is being run, then deepening to 1,551 m. This revises the earlier 1,586 m target depth.
19 Jan 2007drilling progress report● Neutral
Marracoonda-2 is drilling ahead at 1,654 m toward 1,900 m, with the Hutton target still expected about nine days from spud. Victoria is fully carried and keeps 25%. No result yet.
19 Jan 2007well test result● Neutral
Impress reports Wilpinnie-4 DST-1 had a strong blow but no fluids reached surface, and the packer seat was lost. About 24 barrels of oil influx is estimated, equal to 144 bopd, possibly with drilling-fluid damage. A second test is being prepared.
18 Jan 2007drilling progress report● Neutral
Wilpinnie-4 is running open-hole drill stem test #1 over 1,475-1,487 m to test the oil shows. Shows began at 1,446 m, about 17 m higher than in Wilpinnie-3. Test result awaited.
18 Jan 2007drilling progress report● Neutral
Marracoonda-2 is drilling ahead at 1,504 m, with the Hutton target still expected about nine days from the 11 January spud. Victoria stays fully carried at 25%. No result yet.
17 Jan 2007other● Neutral
Beach Petroleum weekly drilling table listing Wilpinnie-4 at 1,469 m, with Victoria shown at 20% after farmout. It adds nothing new on the well and is a third-party report.
17 Jan 2007drilling progress report● Neutral
Marracoonda-2 is drilling ahead at 1,360 m toward 1,900 m, with the Hutton target still expected about nine days from spud. Victoria is fully carried and keeps 25%. No result yet.
17 Jan 2007drilling progress report▲ Good
Wilpinnie-4 cut a 9 m core at 1,478-1,487 m, with oil shows over a 21 m interval from 1,446 m in the Namur Sandstone. An open-hole drill stem test is next. Encouraging but not yet a flow result.
16 Jan 2007drilling progress report● Neutral
Marracoonda-2 is drilling ahead at 890 m toward 1,900 m. Hutton target is still expected about nine days from spud. Victoria is fully carried by Avery and keeps 25%. No result yet.
16 Jan 2007investor presentation● Neutral
Re-release of the 12 January corporate presentation covering current drilling. It cites cash and investments of $9 million at 30 December 2006, about 192 million shares and an $44 million market cap, and 18 exploration wells planned over six months. Largely repeats known facts.
16 Jan 2007drilling progress report▲ Good
Wilpinnie-4 (Tomcat) hit oil shows at 1,466-1,469 m in the target Namur Sandstone, about 17 m higher than the shows in Wilpinnie-3. Early encouragement, but no flow test yet.
15 Jan 2007drilling progress report● Neutral
Marracoonda-2 is preparing to drill out the casing shoe after setting casing at 299.9 m. Hutton target still expected about nine days from the 11 January spud. Avery carries Victoria, which keeps 25%.
15 Jan 2007drilling progress report● Neutral
Wilpinnie-4 (Tomcat) drilling ahead at 1,098 m after setting surface casing at 306 m, following the earlier re-spud. Target depth is 1,586 m. The JV pays 100% and earns 50% of the block only if commercial. No result yet.
12 Jan 2007security holder rights change● Neutral
Victoria lodged its prospectus for the foreshadowed free bonus options: one per four shares at 31 January 2007, exercisable at 25c until 31 January 2010. Holding statements go out 1 February. No action needed from shareholders.
12 Jan 2007drilling spud● NeutralMajor
Victoria confirms Marracoonda-2 spudded 11 January, first of three Wompi wells with up to 13 mmbbl recoverable potential if oil is present. Victoria is fully carried by Avery and keeps 25%. Target reached in about nine days.
12 Jan 2007drilling spud● Neutral
Bow reports Marracoonda-2 spudded 11 January in the Wompi Block of ATP 752P. Hutton Sandstone target is expected in about nine days, with 16 days to finish a 1,900 m well. Avery funds the Wompi wells; Victoria keeps 25%.
12 Jan 2007security holder rights change● Neutral
Prospectus for the free 1-for-4 bonus options (25c, expiring 31 January 2010), record date 31 January 2007, with quotation to be sought. Stated purposes are to reward shareholders and raise exploration funds on exercise. Nothing new.
11 Jan 2007drilling progress report▼ Bad
Wilpinnie-4 ran into surface casing difficulties and the rig was being skidded to re-spud the well. This is a setback to the Tomcat test. Prospect estimate updated to 3.6 mmbbl mean, 5.7 mmbbl P10.
10 Jan 2007drilling spud● Neutral
Impress reports Wilpinnie-4 (Tomcat prospect, PPL 93) spudded 9 January, with Santos operating. Pre-drill estimate is 3.5 mmbbl recoverable (P50), target depth 1,588 m. Victoria would hold 20% after earning in if the well is commercial.
10 Jan 2007drilling spud● NeutralMajor
Victoria, as PEL 115 operator, reports Wilpinnie-4 (Tomcat) spudded 9 January, drilling at 264 m toward 1,586 m. Tomcat could hold 3.5 mmbbl mean recoverable, up to 5.6 mmbbl (P10). The PEL 115 JV pays 100% and earns 50% if commercial.
9 Jan 2007drilling progress report● Neutral
Victoria repeats that El Viejito #1 was at 1,129 m, with targets below 1,524 m and final depth 1,920 m. Wells are drilled at a fixed price, so delay costs fall on the contractor. No result yet.
9 Jan 2007drilling progress report● Neutral
Sun Resources says El Viejito #1 was at 1,129 m after a Christmas break and crew change; targets are below 1,524 m, final depth 1,920 m. Wells are on a fixed-price turnkey basis. The initial program now runs to end January.
2 Jan 2007drilling scheduled▼ Bad
Impress reports rain has delayed Wirraway-1 (PEL 104, Victoria operator 40%) to about mid-January. Wilpinnie-4 (Tomcat) is expected to spud early to mid January with Santos operating.
21 Dec 2006drilling spud● NeutralMajor
Victoria confirms drilling began on El Viejito #1, first of six shallow Margarita wells in Texas (up to 8-10 bcf gross). It was running surface casing at 192 m, with drilling to 1,920 m after Christmas. Victoria's interest is 20%.
