Each one in plain English, with the numbers worked through for a shareholder.
7 Aug 2013drilling progress report▼ BadMajor
Worrior-9, drilled alone by Senex, found a poorly developed reservoir and was plugged and abandoned, the campaign's first dry hole. Worrior-8 is cased and suspended as a future producer. Burruna-2 began drilling 6 August, and Acrasia-7 is next.
19 July 2013farm in farm out completion▲ GoodMajor
Planet Gas confirms all approvals are met and the PEL 514 deal with Senex has completed. Senex now holds 80% and Planet Gas 20%, for $5m cash plus a $9m free carry. This resolves the pending PEL 514 transfer; Cordillo 3D and two wells are still due by November 2013.
16 July 2013drilling result▲ GoodMajor
Worrior-8, the first well of the 30-well oil campaign, reached 1,778 m with up to 18 m of net oil pay interpreted from logs, to be confirmed by testing. Senex will next drill Worrior-9 alone, targeting up to 12 million barrels of oil in place.
16 July 2013drilling result● Neutral
Cooper Energy says Worrior-8 will be cased and suspended for further testing, with 36 m of Murta core to be analysed. Cooper (30%) will not join Worrior-9, which Senex will drill alone at its own risk.
11 July 2013drilling result● Neutral
Partner Cooper Energy reports Worrior-8 reached 1,778 m with hydrocarbon shows in several zones; logging continues. Separately, its own Hooper-1 in PEL 92 (Beach operated, no Senex interest) was dry. Nothing changes for Senex beyond the Worrior-8 depth.
3 July 2013drilling progress report● Neutral
Orca re-releases Senex's news that Fury-1 was recompleted and reached initial flows of up to 75 bopd, not yet stabilised. Orca keeps 20% of the Fury and Burruna blocks, estimated at about 5 million barrels of oil in place. No new information.
3 July 2013drilling progress report▲ Good
June drilling report: Worrior-8 hit an oil-bearing Murta reservoir with 36 m of core, still drilling at 1,651 m. Fury-1, drilled 2009 and never produced, was recompleted and reached 75 bopd in an initial test, not yet stabilised. Vintage Crop-2 completed as a future producer.
27 June 2013resource reserve update▲ GoodMajor
Independently assessed oil reserves rise to 5.1 mmbbl (1P), 10.8 mmbbl (2P) and 21.4 mmbbl (3P) at 30 June 2013, up from 2P 8.1 mmbbl. This includes first bookings at Mustang and Spitfire, a 319% 2P replacement ratio.
26 June 2013resource reserve update▲ GoodMajor
Senex lifts its Cooper Basin gas contingent resources to 1.9 Tcf (2C) and 5.5 Tcf (3C), independently estimated. Hornet moves from prospective to contingent, and Sasanof and Paning get first bookings. Senex plans to seek a Hornet partner early.
24 June 2013drilling spud● Neutral
Worrior-8 spudded on 22 June in PPL 207 (Senex 70%, Cooper Energy 30%), targeting 1,780 m. It is the first of the oil campaign and one of two Worrior wells in the September quarter; about 18 days expected.
21 June 2013drilling scheduled▲ GoodMajor
Senex starts a self-funded campaign of more than 30 oil wells over 12 months in the Cooper Basin, beginning with Worrior-8. It follows a review that identified over 50 oil prospects; the program needs board and joint venture approval.
13 June 2013drilling scheduled● Neutral
Orca says Senex, as operator, will complete Fury-1 and run a 10-day initial production test within weeks. The well was drilled in 2009; Fury and Burruna blocks are estimated at about 5 million barrels of oil in place combined.
5 June 2013drilling progress report▲ GoodMajor
Paning-2 flowed gas from Toolachee Coal at up to 90,000 scfd over four days, with 2.1 Tcf gas in place estimated. Senex also agreed to sell its 15% Cuisinier interest for $20m, and Hornet-2 appraisal and a restart of oil drilling are planned.
15 May 2013resource reserve update▲ GoodMajor
Senex names a new Hornet gas field in PEL 115 and PEL 516: 141 Bcf of 1C contingent resource and 771 Bcf best-estimate prospective resource (up to 2.9 Tcf high). First appraisal well is planned early in the September quarter, with the field under 30 km from the Moomba-Sydney pipeline.
15 May 2013resource reserve update▲ Good
Orca's release of Senex's Hornet gas field estimate: 176 Bcf gross contingent resource in PEL 115 Hornet Block (35 Bcf net to Orca, 20% holder), with prospective resource up to 2.9 Tcf field-wide. Duplicates Senex's 15 May announcement, adding Orca's share.
15 May 2013farm in farm out agreement▲ GoodMajor
Planet Gas transfers 10% of PEL 514 North and 30% of South to Senex, cutting its stake to 20% and lifting Senex to 80%. Senex pays $5m cash and carries Planet Gas for $9m of costs, plus royalty and reserve-based payments.
1 May 2013drilling progress report▲ Good
April drilling report: Paning-2 (PEL 90) fracture stimulation has started, earlier than the 'later in 2013' timing. Hornet-1 is shut in after averaging 2.2 mmscfd, with an extended test planned. Vintage Crop-2 has 6.5 m net oil; Growler-5 back on production; Snatcher-9 on production from September quarter.
4 Apr 2013drilling progress report▲ GoodMajor
March drilling report: Kingston Rule-1 reached up to 1.4 mmscfd with 10-20 barrels of condensate per million cubic feet and is suspended. Vintage Crop-2 found 59 m gross oil and Cuisinier-7 about 6.2 m net pay; Skipton-1 flowback resumes.
25 Mar 2013drilling progress report● Neutral
Orca reports Senex finished fracking Hornet-1 (PEL 115) over a weekend, stimulating six Patchawarra zones between 2,489 m and 2,678 m. The well now flows for clean-up and testing; Kingston Rule-1 and Hornet-1 testing continues into the June quarter.
6 Mar 2013drilling progress report● Neutral
February drilling report: Skipton-1 and Kingston Rule-1 are fracked and flowing back, with results due in weeks. Cuisinier gets a five-well oil campaign (Senex 15%), and Vintage Crop-2 is next. Paning-2 frac is now 'later in 2013'.
6 Mar 2013drilling progress report● Neutral
Orca relays Senex's February drilling report: Kingston Rule-1 (Orca 20%) has been fracked in five zones and flow-back has started, with initial results expected in coming weeks. Duplicates Senex's release.
27 Feb 2013drilling progress report● Neutral
Orca reports Senex has begun fracture stimulation at Kingston Rule-1 (Senex 80%, Orca 20%), with three of six zones done. Hornet-1 is perforated and will be fracked next month, after Talaq-1.
25 Feb 2013resource reserve update▲ GoodMajor
Senex raised its net Surat Basin coal seam gas 2P reserves 13.4% to 156.6 PJ and 3P to 357.7 PJ. With contingent resources, the total is 598.2 PJ, up 15.1%. Independently estimated by MHA; 11 wells are planned over 12 months.
21 Feb 2013drilling result▲ GoodMajor
Paning-2 in PEL 90 (100%) was cased at 3,144 m after intersecting 117 m of net gas pay: 47 m in tight sands and 70 m in deep coals. Senex estimates 2.1 Tcf potential gas in place in the coals; frac testing follows.
7 Feb 2013drilling progress report▲ GoodMajor
Senex began a five-well fracture stimulation program, starting with Skipton-1, then Kingston Rule-1, Talaq-1, Hornet-1 and Paning-2, over about two months. Senex expects it to support certification of material contingent gas resources; flow testing runs into the June quarter 2013.
7 Feb 2013drilling progress report● Neutral
Orca relays Senex's 7 February release that fracture stimulation has begun at Skipton-1, the first of five wells including Kingston Rule-1 and Hornet-1 in PEL 115 (Orca 20%). Duplicates Senex's same-day announcement; nothing new.
6 Feb 2013drilling progress report● Neutral
Senex moves to monthly drilling reports. Paning-2 reached 3,144 m on 2 February and will be cased for fracture stimulation. The five-well stimulation program is starting at Skipton-1, due to finish early April. Snatcher-6 and -7 are producing; Mustang-1 continues testing at over 800 bopd.
19 Dec 2012drilling spud▲ Good
Senex spudded Paning-2 on 15 December in PEL 90 (100%), the first of its 12-well unconventional gas program, targeting 3,175 m and 2.1 Tcf of potential gas in place in deep coals. A five-well fracture stimulation program is to start in January, with results expected by end of March 2013.
5 Dec 2012drilling progress report● Neutral
Beach's November drilling report covers its own wells, such as the Pennington oil discovery in PEL 91, and repeats Senex-operated Snatcher-9 (11 m oil pay) and Spitfire-2 (6.5 m). Nothing new for Senex.
5 Dec 2012drilling progress report● Neutral
Orca relays Senex's report that Kingston Rule-1 is cased and suspended for fracture stimulation in early 2013, and Hornet-1 will be re-entered. Orca also notes 182.5 sq km of new 3D in PEL 110 from Q2 2013. Largely duplicates Senex's same-day release.
