Each one in plain English, with the numbers worked through for a shareholder.
26 Feb 2007drilling progress report▲ Good
Victoria repeats that Gamma-1 has oil fluorescence in the Murta sandstone, 1,124-1,131 m, a secondary target, and is preparing an off-bottom drill stem test. Same news as Bow's release; Victoria is fully carried.
26 Feb 2007drilling spud● Neutral
Telowie-1 spudded 23 Feb in PEL 94 and is nippling up BOPs at 586 m, planned to 1,367 m. The prospect has 6.6 mmbbl potential if oil is present. Victoria holds 15%. It follows the dry Tunkalilla-1.
26 Feb 2007drilling progress report▲ Good
Bow reports Gamma-1 at 1,148 m with good oil fluorescence and gas peaks in the Murta sandstone, 1,124-1,131 m, a secondary target. An off-bottom drill stem test is being prepared. Early positive sign, not yet a result.
23 Feb 2007drilling progress report● Neutral
Gamma-1 is testing blowout preventers before drilling ahead. Routine update with no new result; Victoria remains fully carried at 25%.
22 Feb 2007drilling result▲ Good
Sun Resources reports Milagro #1 reached total depth, with logs indicating potential oil pay of 4.3 m. It will be cased for completion and production testing. El Viejito #1 is still waiting on testing equipment. Victoria's 20% share is unchanged.
22 Feb 2007drilling progress report● Neutral
Gamma-1 is preparing to run surface casing at 186 m. Routine update with no new result; Victoria is fully carried and keeps 25%.
22 Feb 2007drilling result▲ Good
Victoria reports Milagro #1, its second Texas shallow well, reached total depth with potential oil pay of 4.3 m. It will be cased for testing; El Viejito #1 is still waiting for testing equipment. Victoria holds 20%.
22 Feb 2007other● Neutral
Magellan weekly drilling report, a third-party report. It confirms Tunkalilla-1 was dry at 1,422 m and the rig moved to Telowie-1 (mean 2.1 mmbbl by the operator). Other content concerns Muthero wells. Little new.
21 Feb 2007drilling spud● NeutralMajor
Bow says Gamma-1 spudded 21 Feb in the Wompi Block, planned to 1,504 m, with 6.1 mmbbl potential in one zone. Nora-1 (up to 6.5 mmbbl) follows. Victoria is fully carried and keeps 25%. Follows the dry Marracoonda-2.
21 Feb 2007drilling spud● Neutral
Victoria confirms Gamma-1 started drilling on 21 Feb in ATP 752P, planned to 1,504 m, with up to 6.1 mmbbl potential. It is the fifth well in the 16-well 2007 Cooper program. Duplicates Bow's announcement.
21 Feb 2007other● Neutral
Beach Petroleum weekly drilling table, a third-party report. It shows Tunkalilla-1 plugged and abandoned at 1,422 m, with Victoria at 15%. It adds nothing new.
19 Feb 2007drilling result▼ BadMajor
Tunkalilla-1 reached 1,422 m with no hydrocarbon shows while drilling or on logs, and is being plugged and abandoned. This is a dry hole against 1.8 mmbbl potential. The rig moves to Telowie-1. Victoria held 15%.
16 Feb 2007drilling progress report● Neutral
Tunkalilla-1 is nippling up blowout preventers at 651 m after casing. Routine daily update with no new result; Victoria holds 15%.
15 Feb 2007drilling progress report● Neutral
Tunkalilla-1 is preparing to run surface casing at 651 m. Victoria now describes its 2007 Cooper program as 16 wells, up from 14 in the prior announcement. No new result.
15 Feb 2007other● Neutral
Magellan weekly drilling report, a third-party report. It repeats that Tunkalilla-1 spudded 13 Feb at 226 m, with Victoria at 15%. Other content concerns Magellan's Muthero wells. It adds nothing new.
14 Feb 2007other● Neutral
Beach Petroleum weekly drilling table, a third-party report. It shows Tunkalilla-1 drilling surface hole at 226 m. It adds nothing new.
14 Feb 2007drilling result▼ Bad
Victoria confirms Marracoonda-2 plugged and abandoned; oil shows were a residual column in the Hutton and a sub-economic thin sand in the basal Birkhead. The rig moves to Gamma-1. Victoria stays fully carried and keeps 25% of the permit.
14 Feb 2007drilling spud● Neutral
Tunkalilla-1 spudded 13 Feb in PEL 94, drilling to 1,405 m over about 7 days. Victoria holds 15%; the prospect has 1.8 mmbbl potential if oil is present. It is the third well in a planned 14-well 2007 Cooper program.
12 Feb 2007drilling spud● Neutral
Milagro #1, the second of six shallow gas wells in Project Margarita, Texas, spudded 9 Feb and is drilling to 1,585 m. Victoria holds 20%. Heavy rain delayed rig moves; El Viejito #1 is still awaiting a workover rig to complete it.
12 Feb 2007drilling result▼ BadMajor
Bow says Marracoonda-2 will be plugged and abandoned; logs show only minor oil, interpreted as sub-commercial or residual. This is a dry result for the first Wompi well, and the rig moves to Gamma-1 (6.1 mmbbl potential). Victoria is fully carried.
7 Feb 2007drilling progress report● Neutral
Bow says the Marracoonda-2 crew is returning after the floods, and the well's total depth is 1,775 m. A decision to case or plug will follow logs and side wall cores. Gamma-1, with 6.1 million barrels potential, is expected to spud next week, then Nora-1.
2 Feb 2007drilling result● Neutral
Victoria says El Viejito-1 reached 1,932 m, with logs indicating gas in a 1.2 m Frio interval and a possible 11 m Vicksburg interval. It will be cased and tested in about 14 days. Victoria holds 20% of the shallow gas program.
2 Feb 2007drilling result● Neutral
Sun Resources reports El Viejito #1 reached 1,932 m. Logs show possible gas in the Frio over 1.2 m and Vicksburgh over 11 m, both needing testing. Casing is being run, with testing in about 14 days. The rig then moves to Dos Dedos #1.
31 Jan 2007quarterly activities report● Neutral
December quarter: net production of 223,336 boe (253 boe/d) gave net cash flow of $1.33m on gross sales of $1.90m. Rain has pushed Wirraway-1 to March 2007 and Growler-1 production testing to February. An 18-well program is planned over six months. Estimated 2007 net cash flow is $5.5m.
31 Jan 2007other● Neutral
Beach Petroleum weekly drilling table, a third-party report. It shows Wilpinnie-4 cased and suspended at 1,587 m, with Victoria at 20%. Other Cooper Basin wells are suspended because of road closures. It adds nothing new.
29 Jan 2007drilling progress report● Neutral
Santos has run 5.5 in casing to 1,587 m and suspended Wilpinnie-4 for later completion and production testing. The rig was released on 26 January. The 18 m oil zone is unchanged. This confirms the earlier plan to case it.
25 Jan 2007drilling progress report● Neutral
Bow says the Marracoonda-2 evacuation is complete and a skeleton crew is monitoring the well. The site is on high ground but roads are flooded. Work restarts when access allows.
25 Jan 2007drilling result▲ Good
Impress reports Wilpinnie-4 found an 18 m oil column (1,476-1,494 m) in the Mid Namur and will be cased and suspended as a future producer. It calls the results within pre-drill estimates. Impress is a joint venture partner and says it expects a commercial discovery.
25 Jan 2007drilling result▲ GoodMajor
Wilpinnie-4 will be cased at 1,587 m for later production testing. Logs show an 18 m gross oil zone, 1,476-1,494 m, which management says is close to pre-drill expectations. Santos's later testing will show how far the Tomcat pool extends into Victoria's PEL 115.
25 Jan 2007drilling progress report● Neutral
Victoria repeats that the Marracoonda-2 evacuation is complete, with a skeleton crew on site and roads partly flooded. Work resumes when weather and access allow. Victoria is fully carried at 25%.
