Each one in plain English, with the numbers worked through for a shareholder.
27 Oct 2006capital raising announcement● NeutralMajor
Victoria proposed a share consolidation, saying the large share count distracted the market. If approved, it planned a free bonus option for every four shares held on 31 January 2007 (25c exercise, three years). It confirmed Wirraway-1 from early December and Tomcat-1 in December.
27 Oct 2006annual report● Neutral
The 2006 annual report restates earlier points: calendar 2006 net revenue estimated at $8 million, up 180% from $4.4 million, Jingemia-8 expected to lift gross output to about 4,400 bopd, and up to 20 wells planned over nine months. Text is truncated.
26 Oct 2006investor presentation● Neutral
Victoria's corporate presentation for the Finsia Oil & Gas Showcase on 26 October. It is promotional background on energy demand and the company; the visible text shows no new results. Text is truncated.
23 Oct 2006drilling scheduled▲ Good
Bow's five-well Queensland program is set: two Donga appraisal wells from late November (Victoria 15%, 2.2-5 million barrels potential), Rookwood North-1 completion, and Wompi wells from December under the Avery carry. Victoria keeps 25% of ATP 752P. Text truncated.
20 Oct 2006well test result▲ Good
Operator Origin reports Jingemia-8 clean-up flow of 3,520 bopd (Victoria's own release says 3,250) and a Hovea-12 flow of 3,230 bopd. Victoria holds 5% of Jingemia only; Hovea is not its asset. Duplicates the Victoria announcement.
20 Oct 2006well test result▲ GoodMajor
Jingemia-8 (Victoria 5%) clean-up flowed 3,250 bopd from a 21.5 m interval and is being tied in. Victoria targets gross field output of about 4,500 bopd, up from the recent decline, and sees 4-8 million barrels recoverable, subject to more drilling.
20 Oct 2006well test result● Neutral
ARC Energy re-lodges Origin's release on Jingemia-8 (3,520 bopd) and Hovea-12 results. Nothing new for Victoria, which holds 5% of Jingemia. Note the figure differs from Victoria's 3,250 bopd.
18 Oct 2006drilling result● Neutral
Partner Sun Resources repeats that Eagle North-1 retrieval was abandoned and the well will be suspended for a later sidetrack to the lower Gatchell sand. It says a new operator and partner will be sought, and Sun is weighing whether to keep or farm down its 10%.
18 Oct 2006drilling result▼ BadMajor
Victoria and partners stopped trying to retrieve the stuck valve and guns at Eagle North-1, calling it not cost effective. The well will be re-entered and sidetracked later, with the timing depending on rig availability. This ends the retest attempt, so no flow rates were obtained.
16 Oct 2006farm in farm out agreement▲ GoodMajor
The PEL 115 JV will pay 100% of Tomcat-1 in Santos' PPL 93, due late December, to earn 50% of the Wilpinnie North Block if it is a commercial producer. Victoria would hold 20% after earning. The prospect could hold 3.5-5.6 million barrels if oil is present.
9 Oct 2006drilling result▲ Good
Fairground-1 logs and cores show a net 8 m of potential oil sand at 1,561-1,582 m. Casing is run and the zone perforated, with a production test due this week. A further 7 m of shallower sand will be completed later. Victoria holds 15% before payout.
6 Oct 2006well test result▼ BadMajor
Victoria, as operator, confirms Mirage-3 and Mirage-4 are making only 30-35 and 35-40 bopd, which it calls moderate. It says about 75 bopd was added to the field's 239 bopd, giving 314 bopd, and expects higher pump rates to help.
6 Oct 2006drilling result▼ BadMajor
Bow reported that Banff-1 reached 1,650 m, with wireline logs and side wall cores showing no hydrocarbon zones. The well was being plugged and abandoned, leaving Bow 65% and Victoria 35% of the Barcoo Block.
6 Oct 2006well test result▼ BadMajor
Partner Impress reports the fracture-stimulated Mirage-3 and Mirage-4 are producing only about 30-35 and 35-40 bopd, with 60-70% water. It calls the results disappointing, well short of the roughly 1,000 bopd field goal.
5 Oct 2006drilling progress report● Neutral
Victoria repeats Banff-1 at 1,650 m being logged, with plugging if nothing is found. It adds Bow's Surat and Cooper plans: Donga appraisal wells in mid to late November (Victoria 15%) and Wompi wells in December. The text is truncated.
5 Oct 2006drilling progress report▼ Bad
Banff-1 reached total depth of 1,650 m in basement and is being logged. It will be plugged and abandoned if logs show no commercial potential. Bow also plans Donga appraisal wells in late November and the Rookwood North-1 oil completion.
4 Oct 2006drilling progress report▼ Bad
Banff-1 at 1,564 m is interpreted to have penetrated the basal Jurassic sandstones without significant oil shows. Next steps are to reach total depth and log the hole. Both main targets now look unpromising.
4 Oct 2006drilling progress report▼ Bad
Victoria repeats Banff-1 at 1,564 m, with no significant shows in the basal Jurassic and only very minor ones. It says logs and cores are still needed to be sure. Duplicates Bow's update.
3 Oct 2006drilling progress report▼ Bad
Victoria repeats Banff-1 at 1,485 m with no significant shows in the Hutton sandstone. Logs and side wall cores are still needed to confirm. Drilling continues toward the basal Jurassic sandstone. This duplicates Bow's update.
3 Oct 2006drilling progress report● Neutral
Banff-1 is drilling ahead at 1,485 m toward the basal Jurassic sandstone targets. No new results beyond the earlier Hutton result.
3 Oct 2006drilling progress report▲ Good
Primero-1 reached 1,565 m and met additional gas zones in the Reids Dome Beds, with continuous flaring and a flow test planned. Partners also agreed a four-week-plus extended flow test of the shallow 134-151 m gas, which Victoria says may support a commercial project.
2 Oct 2006drilling progress report▼ Bad
Banff-1 passed through the primary Hutton sandstone target over the weekend with no significant oil shows, and is drilling ahead at 1,383 m toward the basal Jurassic targets. This is a poor sign for the 34 million barrel prospect.
29 Sept 2006drilling progress report● Neutral
Operator Bow says Banff-1 is at 876 m, on schedule and running high to prediction, with the Hutton target due over the weekend. It also outlines three Wompi wells from early to mid December in ATP 752P and Donga appraisal wells; Donga may hold 0.7 million barrels.
29 Sept 2006drilling progress report● Neutral
Banff-1 was drilling ahead at 821 m in 8½ inch hole. The top of the Hutton target is still expected about seven days after the 25 September start. No results yet.
29 Sept 2006farm in farm out agreement▲ GoodMajor
Phoenix Resources will fund a $100,000 airborne and soil survey in EP 359 (Exmouth, WA) for an option to drill one well costing it $1.5m and earn 50%. Victoria's interest is not stated in the text (an inference: the table shows 33.36%, 63.30%, 3.34%).
28 Sept 2006drilling progress report▲ Good
Growler-1 has been cased and perforated over 1,720-1,737 m, and the rig released on 26 September. A clean-up flow follows within seven days, then an extended production test from mid November, subject to approvals. The up to 4 million barrel estimate is unchanged.
28 Sept 2006annual report● Neutral
Victoria's annual financial report for the year to 30 June 2006 is lodged. Only the front sections (directors, officers, contents) are readable here; the financial figures are truncated, so none can be confirmed.
28 Sept 2006drilling progress report● Neutral
Banff-1 was drilling ahead in 8½ inch hole at 323 m. No results yet.
27 Sept 2006drilling progress report● Neutral
Banff-1 is installing blowout preventers on 9 5/8 inch casing set at 245 m before drilling ahead in 8½ inch hole. No new results.
26 Sept 2006drilling progress report● Neutral
Banff-1 was drilling ahead at 218 m. The top of the Hutton target is still expected about seven days after spud. No results yet.
