Each one in plain English, with the numbers worked through for a shareholder.
5 Dec 2012drilling progress report▲ Good
Senex will start its 12-well unconventional gas program with Paning-2 in PEL 90 (100%). Kingston Rule-1 is cased and suspended, and Hornet-1 will be re-entered for fracture stimulation. Mustang-1 produced over 2,400 bopd, then was constrained to about 800 bopd on extended test.
3 Dec 2012farm in farm out agreement● Neutral
Ambassador and Senex agreed to terminate the farm-in under which Ambassador would earn 50% of the PEL 113 Zulu Block by shooting 3D seismic and drilling one well. Senex keeps its 100% interest in the block. Ends an open thread from the earlier farm-in.
29 Nov 2012drilling result▲ GoodMajor
Kingston Rule-1 in PEL 115 found 53 m of net gas pay plus 150 m of shale and about 20 m of coal, with liquids-rich indications. Senex raised its PEL 115 stake from 55% to 80%. Frac testing is planned for early 2013.
29 Nov 2012drilling result▲ Good
Orca relays Kingston Rule-1's 53 m of net gas pay, calling it an excellent result; Orca keeps 20%, free-carried. Duplicates Senex's same-day release, which also states Senex's PEL 115 stake rose to 80%. Testing is expected early 2013.
28 Nov 2012drilling result▲ GoodMajor
Spitfire-2 found 6.5 m of net oil pay in the mid-Birkhead, confirming a new oil field at Spitfire in PEL 104 (Senex 60%). It reverses Spitfire-1, abandoned as uncommercial in February 2012. Suspended as a future producer.
12 Nov 2012drilling result▲ GoodMajor
Snatcher-9 found 11.2 m of net oil pay and extends the Snatcher field to the north west. It reached 1,908 m and will be suspended as a future producer. Another appraisal success in a field Senex runs at 60%.
7 Nov 2012drilling progress report● Neutral
Snatcher-9 was spudded 2 November to test the field's northern limit; Kingston Rule-1 is at 2,083 m. Mustang-1 extended test is expected late November. A 310 sq km Lignum 3D survey is planned over PEL 104/111. No new results.
7 Nov 2012drilling progress report● Neutral
Beach Energy's October report covers its own wells and repeats Senex-operated Snatcher-8 (14 m net pay) and Snatcher-9 drilling at 1,504 m. Nothing new for Senex.
5 Nov 2012drilling progress report● Neutral
Orca says Kingston Rule-1 is on schedule at 2,083 m, with casing being cemented before coring of the Roseneath, Epsilon, Murteree and Patchawarra sections. Target depth is about 2,900 m. Orca remains free-carried.
24 Oct 2012drilling progress report▲ Good
Kingston Rule-1 began drilling 21 October as Senex's fourth operated unconventional well. Snatcher-8 (14.1 m net pay) was suspended; Snatcher-6 and -7 completed as producers; Snatcher-9 rig mobilising; 224 sq km Cuisinier North 3D survey started.
23 Oct 2012drilling spud● Neutral
Orca reports Senex has spudded Kingston Rule-1 in PEL 115, Orca's first unconventional gas well, targeting about 2,900 m. Orca (20%) is free-carried by Senex, the operator. Confirms the spud Senex had signalled for this week.
17 Oct 2012drilling progress report● Neutral
Orca Energy said Weatherford Rig 826 is on site at Kingston Rule-1 in PEL 115 (Orca 20%, Senex operator), with spudding expected within the week. It also repeats Senex's Skipton-1 discovery news. No new results.
16 Oct 2012drilling result▲ GoodMajor
Senex called Skipton-1 in PEL 516 (100%) a material liquids-rich gas discovery: over 75 m of net gas pay in the Patchawarra, 164 m of gas-charged shales and over 380 m of core. Fracture stimulation is planned for mid-December; Kingston Rule-1 starts within a week.
10 Oct 2012drilling result▲ Good
Snatcher-8 was cased and suspended as a future producer after finding 14.1 m of net oil pay. Skipton-1 reached 3,124 m and is being cased ahead of fracture stimulation. The Cordillo 3D data capture and Peebs-11 drilling are complete.
3 Oct 2012drilling progress report● Neutral
Beach's September report repeats Senex-operated results: Snatcher-7 (7.5 m net pay), Snatcher-10 (10 m pay, field open to the north) and Mustang-1 testing at over 800 bopd. The rest covers Beach's own wells; nothing new for Senex.
2 Oct 2012drilling result▲ GoodMajor
Snatcher-10 was cased and suspended after finding a 15 m gross oil column with 10 m net pay, extending the Snatcher field (Senex 60%, Beach 40%) to the north. The rig moves to Snatcher-8, continuing the run of Snatcher successes.
26 Sept 2012drilling progress report▲ Good
Snatcher-10 reached 1,905 m, and Mustang-1 is flowing over 800 bopd on test. Skipton-1's Epsilon Formation is 68 m thick, thicker than expected, with liquids-rich gas confirmed. Cordillo 3D is 92% complete; Peebs-9 and Peebs-11 CSG wells were drilled.
20 Sept 2012resource reserve update● Neutral
Strike Energy, Senex's PEL 94 partner (Strike 35%), raised its southern Cooper Basin prospective gas resource 136% to 14.3 Tcf net to Strike, citing Davenport-1 results. Senex holds 15% of PEL 94. Not a Senex resource booking.
12 Sept 2012drilling progress report▲ Good
Snatcher-7 was cased and suspended as a producer with 7.5 m net oil pay. Production licences PPL 240 (Snatcher) and PPL 241 (Vintage Crop-1, PEL 516) were granted. Skipton-1 coring has begun with high gas readings in mud logs; Mustang-1 production testing is due soon.
5 Sept 2012drilling progress report● Neutral
Beach's August report repeats Senex-operated results: Snatcher-6 (expected about 450 bopd gross) and the dry Tomcat-1. It adds that three more Snatcher wells could add about 1,150 bopd gross. Other items are Beach's own wells, such as Bauer-8.
29 Aug 2012drilling result▼ BadMajor
Senex starts fortnightly drilling reports. Tomcat-1 found a developed Birkhead channel but no hydrocarbons and was plugged and abandoned, a dry hole following the Mustang-1 discovery. Snatcher-7 is drilling, Skipton-1 is setting casing, and Sasanof-1 is shut in for cleanout equipment after exceeding 200,000 cf/d.
15 Aug 2012drilling spud● Neutral
Skipton-1 started drilling in PEL 516 (Senex 100%), the next unconventional gas well, aiming for about 3,000 m with extensive coring in about 60 days. Kingston Rule-1 follows in October, then a large fracture campaign. Senex is still sourcing a dedicated gas rig.
14 Aug 2012drilling result▲ Good
Snatcher-6 was cased and suspended as a producer after a 10.5 m gross oil column (5.2 m net pay) in the Birkhead. It is the first of a continuing appraisal program at the Snatcher field (Senex 60%, Beach 40%). The rig now moves to Tomcat-1.
9 Aug 2012drilling progress report▲ Good
QGC and Senex began an 11-well appraisal program in PL 171 (Senex 20%) and ATP 574P (30%), aiming to materially increase 2P reserves. First wells found 36-41 m of coal, which management says exceeds expectations. Three more wells are due within a month.
7 Aug 2012drilling result▲ Good
Indy-1, a Surat Basin coal seam gas exploration well in ATP 771P (Senex 45%, operator), reached 350.6 m and found 7.3 m of net coal and 5.3 m of net gas-bearing shale, with good permeability on four tests. Indy-2 spudded 6 August. Early, encouraging; no reserves added yet.
6 Aug 2012drilling result▼ BadMajor
Kruger-1 in PEL 516 reached 1,675 m with oil shows over 7 m in the basal Birkhead/Hutton, but a drill stem test recovered no hydrocarbons and the well was to be plugged and abandoned. Ambassador funded the well to earn 60% of Mudlalee; Senex operates with 40%.
1 Aug 2012drilling progress report● Neutral
Beach's July drilling report repeats the Mustang-1 oil discovery (about 2,500 bopd on test, cased and suspended; Senex operator, Beach 40%). Other items concern Beach's own wells. An amended re-release of the earlier report; no new Senex information.
1 Aug 2012drilling progress report● Neutral
Beach's July drilling report repeats the Mustang-1 discovery (2,484 barrels a day, cased and suspended; Senex 60%, Beach 40%). Other items concern Beach's own wells, including Bauer-5 in PEL 91. No new Senex information.
30 July 2012drilling progress report● Neutral
Ambassador reports Kruger-1 drilling at 1,189 m after setting surface casing at 658 m. The basal Birkhead/Hutton target is expected later this week. No results yet; Ambassador funds the well and Senex operates with 40%.
24 July 2012drilling spud● NeutralMajor
Ambassador reports Kruger-1 spudded on 23 July and was drilling at 174 m toward a planned 1,675 m. Ambassador funds the well to earn 60% of the Mudlalee block; Senex operates and keeps 40%. This follows the dry Shocking-1.
