Each one in plain English, with the numbers worked through for a shareholder.
15 May 2006drilling result▼ BadMajor
Jindivik-1 reached 1,700 metres. The Murta test recovered a little water, and the reservoir is low permeability, unlike Mirage-1. Mirage-3/4 production now late June/July, goal over 600 bopd this year versus the earlier 1,000 bopd target.
12 May 2006drilling progress report● Neutral
Jindivik-1 cut Core #2 (1,322-1,335 metres) and is running in to drill stem test the 1,314-1,335 metre interval. No test result yet.
11 May 2006drilling progress report● Neutral
Jindivik-1 recovered Core #1 (1,314-1,322 metres) showing minor oil fluorescence. Core #2 is next, then an open-hole drill stem test. Weak early sign for the Murta.
10 May 2006drilling progress report● Neutral
Jindivik-1 pulled out of the hole at 1,314 metres to fetch a core barrel and core the Murta sands. No results yet.
9 May 2006drilling progress report● Neutral
Jindivik-1 drilling ahead at 1,136 metres toward the primary Murta target at 1,313 metres. No new results.
8 May 2006drilling progress report● Neutral
Eagle North-1 lateral stopped at 4,386 metres because 'running sands' blocked further drilling, short of the planned 4,600 metres. Company reads this as good reservoir. A 177-metre production test follows; up to 1,000 bopd is anticipated if successful. No flow result yet.
8 May 2006drilling progress report● Neutral
Jindivik-1 drilling ahead at 642 metres after setting 9 5/8 inch casing at 633 metres. No new results.
8 May 2006drilling progress report● Neutral
Sun Resources relays that Eagle North-1 drilling stopped at 4,386 metres because of 'running sands'. A 177-metre section will be production tested, about four days. Success would be a 4 to 6 fold improvement on the 223 bopd 1986 vertical well. No flow result yet.
5 May 2006drilling progress report● Neutral
Jindivik-1 drilling ahead at 548 metres toward the Murta target at 1,313 metres. No new results.
4 May 2006drilling spud● NeutralMajor
Jindivik-1 spudded 3 May in PEL 115 to test whether the Murta oil pool extends across Mirage-Lightning-Jindivik (23 million barrels oil in place concept). Primary Murta target at 1,313 metres; planned total depth 1,683 metres. Victoria 40% operator.
1 May 2006other● Neutral
FAR's global update mostly covers Canada and China. Its Eagle section repeats Victoria's 26 April report (lateral at 4,308 metres, oil inflow) and notes drilling a 4.5 inch hole at 14,295 feet. No new Eagle information.
27 Apr 2006drilling progress report▲ Good
Eagle North-1 lateral reached 4,308 metres with good oil shows over 11 metres and oil inflow on a flow check, so mud weight is being raised. About 320 metres of lateral remain, a further seven days; delays are acknowledged as drilling and equipment challenges. No test yet.
27 Apr 2006drilling progress report● Neutral
Sun Resources says Eagle North-1 lateral was restarted at 4,285 metres after survey tool problems cost a week. At 4,303 metres oil flowed into the hole, so mud weight is being raised; drilling rate rose from 8 to 70 feet an hour, suggesting good sand.
27 Apr 2006drilling progress report● Neutral
Partner Lakes Oil (15%) relays Victoria's report: Eagle North-1 lateral at 4,308 metres with good oil shows and oil inflow on a flow check, mud weight being raised. Repeats known information; no new result.
21 Apr 2006drilling progress report● Neutral
Lightning-1 is at 2,007 metres heading to 2,016 metres in basement. The Patchawarra (1,909-1,962 metres) showed gas only in overlying coals, with no obvious hydrocarbons in the target sands; logs will decide. The well will be suspended as a future Murta oil producer.
21 Apr 2006drilling result● Neutral
Impress says Lightning-1 achieved its main aim, finding Murta oil, but the deeper Patchawarra does not appear to hold hydrocarbons, subject to logs. The well will be cased and suspended, then the rig moves to Jindivik-1. Permian hopes look dimmed.
20 Apr 2006drilling progress report● Neutral
Lightning-1 was drilling ahead at 1,833 metres, approaching the Permian Patchawarra target sands at 1,927-1,967 metres. No new results.
19 Apr 2006drilling progress report● Neutral
Lightning-1 was running back in the hole to drill on from 1,640 metres toward the Permian Patchawarra targets at 1,927-1,967 metres. Total depth remains 2,007 metres. No new results.
19 Apr 2006other● Neutral
FAR's global update mainly covers Canada, Louisiana and China projects. Its Eagle section only repeats Victoria's 17 April report of 4.5 inch casing set at 4,281 metres and good oil shows. No new Eagle information.
18 Apr 2006drilling progress report● Neutral
Eagle North-1 sidetrack has set 4.5 inch casing at 4,281 metres after good oil shows from 4,255 metres. It will now drill a 320-metre lateral to about 4,600 metres; up to 1,000 barrels a day is anticipated if successful. No test result yet.
18 Apr 2006well test result● Neutral
Lightning-1 found Murta oil shows over 1,317-1,331 metres, but the open-hole test recovered only two barrels of oil-cut mud, no water. Company says the Murta is oil bearing here, though a link to the Greater Mirage pool still needs confirming. Drilling on to Permian at 1,640 metres.
18 Apr 2006drilling progress report▲ Good
Eagle North-1 sidetrack hit good oil shows in the target lower Gatchell sand from 4,255 metres. A 4.5 inch liner is to be set, then a 320-metre lateral toward Mary Bellocchi-1; up to 1,000 barrels a day is still anticipated if successful. No flow result yet.
18 Apr 2006drilling progress report▲ Good
Sun Resources reports the Eagle North-1 sidetrack landed in the target Gatchell sand at 4,255 metres, with about 30 metres of good oil shows. A 320-metre lateral and test through slotted liner follow; no flow result yet.
18 Apr 2006drilling progress report▲ Good
Partner Impress repeats Lightning-1 Murta results (two barrels oil-cut mud, oil shows) and says the reservoir is the same 15 metres gross thickness as in the Mirage wells. It sees support for oil across Greater Mirage, to be evaluated after Jindivik-1.
13 Apr 2006drilling progress report● Neutral
Lightning-1 in PEL 115 was drilling ahead at 992 metres, heading for the Murta at 1,307 metres and deeper Permian targets. Plan remains total depth 2,007 metres in 14 days. No results yet.
12 Apr 2006drilling progress report● Neutral
Lightning-1 is drilling out from the 641-metre casing shoe to continue toward 2,007 metres. Targets are unchanged: the Murta and deeper Permian gas and oil. No results yet.
11 Apr 2006drilling progress report● Neutral
Lightning-1 is cementing 9 5/8 inch casing at 641 metres. Targets remain the Murta at 1,307 metres and Permian Patchawarra at 1,927-1,967 metres, with total depth planned at 2,007 metres. No results yet.
10 Apr 2006drilling spud● NeutralMajor
Lightning-1 began drilling on 7 April in PEL 115, testing a potential 23 million barrels of Murta oil in place plus deeper Permian targets of up to 130 bcf gas or 18 million barrels. Planned total depth is 2,007 metres in 14 days.
7 Apr 2006investor presentation● Neutral
Victoria presented 'A Major Player in the Cooper Basin' to the SA Chamber of Mines. The visible text repeats known facts, including gross Mirage output of 430 barrels a day in March and a planned 1,000 in July. No new results.
3 Apr 2006drilling progress report▲ Good
Mirage-4 is being completed, to be perforated 1,320-1,338 metres. The first Mirage phase of three wells all found Murta hydrocarbons; production testing is due by mid-June. The rig moves to Lightning-1, which also targets deeper gas and oil.
