Each one in plain English, with the numbers worked through for a shareholder.
24 July 2012drilling scheduled▲ GoodMajor
Senex contracted Weatherford Rig 826 for the next two wells of its 12-well unconventional gas program: Skipton-1 (PEL 516, spud second week of August) and Kingston Rule-1 (PEL 115, October, subject to joint venture approval). A three-well fracture campaign including Talaq-1 follows.
18 July 2012drilling scheduled● Neutral
Ambassador says it will start Kruger-1 in PEL 516 this weekend, with the Century 3 rig being moved in. The well has a mean 380,000 barrel oil potential, with upside over 800,000. Ambassador funds it to earn 60%; Senex keeps 40% and operates.
17 July 2012drilling result▲ Good
Beach, Senex's 40% partner in PEL 111, repeats the Mustang-1 discovery: a 4.5 m oil column flowing at 2,484 barrels a day. It adds that the rig will move to Tomcat-1, about 2 km northeast, subject to joint venture agreement. No new result.
17 July 2012drilling result▲ GoodMajor
Mustang-1 (Senex 60% operator, Beach 40%) discovered a new western flank oil field. A 4.5 m gross column (4.0 m net) in the mid-Birkhead flowed at a rate equivalent to 2,484 barrels a day. It will be cased as a future producer. The release is dated 17 June but the events are July 2012.
13 July 2012drilling result▲ Good
Cuisinier North-1 (Santos operator, Senex 15%) found a 5.0 m gross oil column in the Murta Formation, with 2.0 m interpreted net pay, and will be cased as a future producer. It is the fourth and last well of the Barta Block campaign, after Cuisinier-4, -5 and -6.
12 July 2012drilling result▼ BadMajor
Shocking-1 (Senex 40%, Ambassador funding to earn 60%) recovered formation water with traces of oil from the McKinlay and will be plugged and abandoned, a dry hole. Senex's share of the cost was carried. The rig moves to Kruger-1 (380,000 bbl).
9 July 2012drilling progress report▼ Bad
Logs showed the Murta and basal Birkhead oil shows in Shocking-1 had no movable hydrocarbons, a setback. A drill stem test of the McKinlay is under way, so the well's outcome now rests on that zone.
6 July 2012drilling progress report● Neutral
Shocking-1 reached total depth of 1,667 m and is preparing to run logs. Oil shows in the Murta, McKinlay and basal Birkhead will be assessed, with drill stem tests to follow if needed.
4 July 2012drilling result● Neutral
Snatcher-5 (Senex 60%) was cased after a 4 m gross oil column (2.4 m net), recovering 2.6 bbl on test; Mustang-1 is next. Santos's Cuisinier-6 (Senex 15%) found a 5.6 m gross column (3.8 m net). Headline says Cuisinier-5; the text describes Cuisinier-6. Cuisinier North-1 spudded 2 July.
4 July 2012drilling progress report▼ Bad
The McKinlay test in Shocking-1 gave no valid result because the tool plugged. Drilling resumes toward the basal Birkhead, with both zones to be tested at total depth if logs show movable hydrocarbons.
4 July 2012drilling progress report● Neutral
Beach's June drilling report repeats that Snatcher-5 (PEL 111) hit a 4 m gross oil column, recovered 2.6 bbl on test and was cased and suspended, and the rig is moving to Mustang-1. The rest concerns Beach's own wells.
3 July 2012drilling progress report● Neutral
Drill stem testing of the McKinlay oil shows in Shocking-1 began on 3 July. Results are to follow, and the well then drills on to the basal Birkhead.
2 July 2012drilling progress report▲ Good
Shocking-1 reached 1,394 m with good oil shows in the Murta and McKinlay. A drill stem test of the McKinlay is being prepared. Shows are not a flow result.
29 June 2012drilling progress report● Neutral
Ambassador reports Shocking-1 at 634 m, with surface casing set at 602 m, drilling toward the McKinlay target. No results yet; Senex holds 40% with Ambassador funding the well.
25 June 2012drilling spud● Neutral
Shocking-1 in PEL 516 spudded 25 June with the Century 3 rig, targeting 1,700 m in about 14 days. Ambassador funds it to earn 60% (Senex keeps 40% and operates). Mean potential is over 250,000 bbl, and Kruger-1 follows.
22 June 2012drilling result● Neutral
Cuisinier-5 on the Barta Block (Senex 15%) found a 12.8 m gross oil column but only 2.0 m net pay, thinner than Cuisinier-4's, and was cased as a future producer. Cuisinier-6 is due to spud 23 June.
22 June 2012drilling progress report● Neutral
Century Rig 3 left Talaq-1, now suspended awaiting fracture stimulation, and is rigging up at Shocking-1 in PEL 516. Ambassador pays all drilling costs to earn 60%. Kruger-1 follows. No new terms.
18 June 2012drilling scheduled● Neutral
Ambassador says the Century 3 rig is mobilising to Shocking-1 in PEL 516, with drilling due within seven days. Mean recoverable oil is above 250,000 bbl, and Kruger-1 (380,000 bbl) follows. This matches the Ambassador farm-in already announced.
6 June 2012drilling progress report● Neutral
Beach's May drilling report repeats known items: Davenport-1 (PEL 94) cased and suspended after thick coals, and Snatcher-4 cased as an appraisal success with the rig moving to Snatcher-5. No new Senex results.
5 June 2012drilling result▲ GoodMajor
Santos's Cuisinier-4 on the Barta Block (Senex 15%) found a 23.4 m gross oil column, at least 9.4 m net pay, and was cased as a future producer. It is the first of four Barta wells; Cuisinier-5 is next, from the week of 11 June.
31 May 2012farm in farm out agreement▲ GoodMajor
Ambassador will fund Shocking-1 in PEL 516 to earn 60%, replacing the Rowley location, which is flooded; it keeps a 12-month option on Rowley-1. Senex keeps 40% and operates. Century 3 mobilises in June, spud mid-June, up to 400,000 bbl upside; Kruger-1 follows.
31 May 2012drilling result▲ GoodMajor
Snatcher-4 found a 10.3 m gross Birkhead oil column (at least 6.5 m net pay) and was cased as a future producer. The rig now moves to Snatcher-5, 470 m west of Snatcher-3, to spud around 3 June.
30 May 2012drilling progress report▲ Good
Senex completed fracture stimulation at Sasanof-1, treating four Permian intervals, and claims a first multi-zone frac on a dedicated unconventional well in the southern Cooper Basin. Cleanup and flowback now follow, with preliminary results expected in about two weeks.
22 May 2012drilling spud● Neutral
Santos spudded Cuisinier-4 in ATP 752P (Senex 15%), 600 m northwest of the Cuisinier-1 discovery, targeting 1,759 m. It is the first of three appraisal wells and one exploration well planned for the Barta Block.
18 May 2012drilling result▲ Good
Davenport-1 in PEL 94 (Senex 15%, non-operated) hit total depth of 2,102 m and found over 110 m of net coal, including a 45 m seam, well above pre-drill expectations. Sidetrack coring is underway; a positive early result for a minor interest.
16 May 2012drilling spud● Neutral
Snatcher-4 oil appraisal well spudded 15 May, targeting 1,858 m, the first of two approved appraisal wells at Snatcher. Follows production restart on 3 May with Snatcher-3 online and Snatcher-1/-2 reinstated.
15 May 2012drilling progress report● Neutral
Multi-zone fracture stimulation began at Sasanof-1 (PEL 516, Senex 100%), expected to take 11 days across the Roseneath and Murteree shales and Patchawarra tight sands. It is the start of the test announced earlier; no results yet.
10 May 2012resource reserve update▲ GoodMajor
Net Surat Basin CSG 2P reserves rose 75% to 138.1 PJ (from 79.0 PJ at June 2011), 3P to 314.0 PJ, plus 205.4 PJ 2C contingent resource. First reserves booked in ATP 593P. This is the CSG upgrade previously flagged; MHA certified it.
8 May 2012drilling progress report▲ Good
Sasanof-1 fracture stimulation is scheduled to start 15 May and run at least 11 days. Talaq-1 reached its first coring point, with 17.4 m of Roseneath shale core taken and over 300 m planned. Shale tests show rock becoming more brittle with depth.
27 Apr 2012drilling result▼ BadMajor
Tigercat-2 found only 1.6 m of net pay in thin sandstone; drill stem testing recovered no oil, so it will be plugged and abandoned as non-commercial. A second exploration miss after Thunderchief-1; the rig moves to Snatcher.
