30 Dec 2020drilling spud● Neutral
Nyanda-8, the second Phase 2 well, has spudded. Drilling had reached 248m with gas detected from 151m. No results yet.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
24 Dec 2020drilling result▲ GoodMajor
Further evaluation puts Nyanda-7 at 38.2 m net coal, with seams and gas shows similar to Nyanda-4 and numerous open natural fractures. The well is cased and suspended awaiting completion; the rig is moving to Nyanda-8.
22 Dec 2020drilling result▲ Good
Nyanda-7 reached target depth of 1,212m on 19 December with over 30 m of net coal and encouraging gas readings. The rig moves to Nyanda-8 next, with pumps and production testing planned for early in the new year.
15 Dec 2020drilling spud▲ GoodMajor
Nyanda-7 spudded on 15 December, the first Phase 2 well, a step-out about 2.6 km north of Nyanda-4 with planned depth of 1,200m. At least three more wells follow, weather permitting; two Rolleston-West coreholes are planned for the New Year.
10 Dec 2020drilling scheduled▲ Good
Silver City Rig 25 is mobilising to Reid's Dome to start Phase 2, which will drill at least four production wells around Nyanda-4. Nyanda-7 is first, spud expected next week. The aim is two wells drilled and three testing before the wet season.
1 Oct 2020drilling scheduled▲ GoodMajor
After Nyanda-4 flowed near 500,000 scf/d, State Gas plans Phase 2 drilling by mid-November: at least four step-out wells, with two optional extras. Nyanda-4's test is suspended until they are drilled; Serocold-1 (47% of targeted coals below pump) will be suspended. Rougemont-1 is planned at Rolleston-West.
18 Aug 2020resource reserve update▲ GoodMajor
State Gas says Phase 1 appraisal is complete, with coal seam gas confirmed over at least 12km north to south and gas produced at all three wells. It has commissioned Netherland Sewell to certify first resources, due by late September 2020. Serocold-1 is at 13 mscf/d and Nyanda-4 above 70 mscf/d.
1 Apr 2020drilling progress report● Neutral
Field access is restored after the wet season; the board will restart Nyanda-4 and Serocold-1 production tests, expected in April and running up to three months. A desktop study confirmed a viable pipeline route to the Queensland Gas Pipeline (~45km). Talks with potential pipeline partners are progressing.
12 Feb 2020drilling progress report▼ Bad
Production tests at Nyanda-4 (227 mscf/d peak) and Serocold-1 (started 17 Jan) are stalled by pump problems and heavy rain blocking site access. Aldinga East-1A shows rising wellhead pressure, suggesting gas may be flowing. The company says it has identified fixes.
8 Jan 2020drilling progress report● Neutral
Workover to complete Serocold-1 for production testing has started, with the test due after surface facilities are installed around the end of the following week. The company is cross-checking Nyanda-4 flow rates with a Critical Flow Prover over the break.
9 Dec 2019drilling progress report● Neutral
Serocold-1 spudded 6 December (269m); Nyanda-4 on production test since 4 December, with rising casing pressure suggesting gas desorption. Aldinga East-1A gas sample is 97.88% methane, but permeability testing was impaired by drilling brine absorbed during two months shut-in.
3 Dec 2019drilling progress report● Neutral
Serocold-1 expected to spud that weekend with Silver City Drilling Rig 25, drilling and testing in about two weeks. Aldinga East-1A drill stem tests are under way and Nyanda-4 production testing is due to start that week; little gas expected in the first weeks.
27 Nov 2019drilling progress report▲ Good
Nyanda-4 workover finished: pump installed and coals under-reamed, with production test expected before Christmas and lasting 3-6 months. TDC Rig 4 now moves to Aldinga East-1A for drill stem tests. Serocold-1 still targeted before year end.
13 Nov 2019drilling result▲ GoodMajor
Aldinga East-1A logging found 10-14m of net coal and a new conventional gas pool in about 9m of Cattle Creek sand, plus a further 9m of gas sand deeper (18m total to 802m). Well suspended for drill stem tests; Serocold-1 design under review.
7 Nov 2019drilling progress report▲ Good
Drilling at Aldinga East-1A was suspended at 882m for wireline logging and permeability testing. TDC Drilling's Rig 4 is mobilising to re-enter Nyanda-4 next week for production testing, with the aim of finishing before the wet season.
4 Nov 2019resource reserve update● NeutralMajor
Final Nyanda-4 gas content is 13.75 m3/t average from 10 samples, replacing all prior figures including the 14.6 m3/t reported in July. The thickest seam is 16.94 m3/t. This is a small downward revision to the earlier average.
23 Oct 2019drilling result▲ GoodMajor
Coring at Aldinga East-1A finished; the 563.5-649m interval had coal seams and a conventional sandstone reservoir, with gas bubbling from both. Gas then flowed vigorously from the well, so mud weight was raised. Company believes it comes from sandstone and may help project economics.
18 Oct 2019drilling progress report▲ Good
Coring began at Aldinga East-1A after coal tops were hit at 560m, the shallow end of the 560-600m forecast. Gas was seen bubbling from the drilling mud, as at Nyanda-4. About 150m of core is planned before drilling to 1,200m.
4 Oct 2019drilling spud▲ GoodMajor
Aldinga East-1A, the first well of the 2019 program, spudded on 4 October 2019 using Gas Field Services Rig 12, to a planned 1,200m in the northern part of PL 231. Serocold-1 follows. It is the first drilling since Nyanda-4 in 2018.
9 Sept 2019drilling scheduled▲ Good
Processing of the 1981 WOWCO seismic survey is complete, giving a first coherent picture of the Reid's Dome structure and supporting existing geological views. The first 2019 well, Aldinga East-1A (1,200m), is expected to spud in coming weeks, ahead of the planned Serocold-1.
21 Aug 2019drilling scheduled▲ GoodMajor
State Gas sets a 'Target 2021' plan for first gas in 2021: two new wells, Aldinga East-1A and Serocold-1, each to 1,200m, starting late Q3 2019. At least two production tests are planned to start in Q4 2019 and run 3-6 months, plus seismic reprocessing and pipeline route study.
5 Dec 2018drilling result▲ GoodMajor
Nyanda-4 was extended from 1,000m to 1,200m and suspended for re-entry rather than abandoned. It found 38m of net coal, gas shows from ~392m, ~100psi over-pressure and light oil in sandstones. The chairman says results far exceeded expectations; lab work continues.
28 Nov 2018farm in farm out completion▲ GoodMajor
State Gas raised its PL 231 interest from 60% to 80% by acquiring 20% from its partner, offset against cash calls the partner owed. It now carries 80% of costs including Nyanda-4. Remains operator.
22 Nov 2018drilling spud● NeutralMajor
Nyanda-4 spudded on 22 November 2018, 13.5km south of Primero West-1, planned to 1,000m to test tight gas and coal seams. State Gas pays 60% of costs; first coal seam gas test of the permit.
15 Nov 2018drilling progress report● Neutral
Primero West-1 reached total depth of 250.77m on 15 November. Logging, testing and cementing follow, with results to be released later. The rig then moves to Nyanda-4. No results yet.
13 Nov 2018drilling progress report▲ Good
Primero West-1 hit gas at 134m in the Cattle Creek Formation, as expected. The well is 100% funded by State Gas and will be plugged and abandoned after testing. Nyanda-4 is next, with State Gas paying 60%.
12 Nov 2018drilling spud▲ GoodMajor
Primero West-1 spudded on 10 November 2018 using Silver City's Rig-25. This begins the company's first drilling on PL 231 since 2006 and the well that completes its sole JV funding obligation.
22 Oct 2018drilling scheduled▲ GoodMajor
Silver City Drilling engaged to drill Primero West-1 (250m, Cattle Creek gas sand) from November 2018, then Nyanda-4 (1,000m) to test coal seam gas and tight gas, subject to joint venture approval. First drilling on the permit since 2006; the plan now adds coal seam gas to the earlier conventional targets.
12 June 2018drilling scheduled▲ GoodMajor
Reid's Dome North-West-1 will be drilled in the September quarter 2018 to test the north-west gas prospect, which may span multiple zones to about 500m. Drilling will complete the company's sole funding obligations under the PL 231 joint operating agreement. Southern seismic reprocessing is also expected that quarter.
12 Mar 2018drilling scheduled▲ GoodMajor
Seismic reprocessing of the northern area of PL 231 found a new potential shallow gas pool in the north-west, at about 220m. Two to three existing wells look enough to produce the Central North pool. Southern reprocessing is under way; the company is investigating ways to monetise the gas.