Past year: ▲ 137%(11.0c – 36.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Feb 2012drilling progress report● Neutral
Barnett Shale update: surface hookups should finish by early March, then the three gas wells are stimulated and completed. Petrel has agreed a first 830-acre lease in its 10,000-acre area with capacity for up to 73% interest. No new results.
9 Dec 2011drilling progress report● Neutral
Progress on Petrel's Barnett Shale venture (25% interest): the water disposal well and first producer are drilled and cased, with two more wells due by month-end. Completion of the three producers is planned for February; shareholder meeting set for 10 January 2012.
7 Mar 2011resource reserve update▲ GoodMajor
First independent CSG resource certification: Orion's net share is 243.7 PJ of recoverable contingent and 1,079.4 PJ of prospective resources across PELs 6, 427 and 428. PEL 427 is the largest part. Management calls CSG a bonus to its conventional focus.
7 Mar 2011resource reserve update▲ Good
Eastern Star's release of the same CSG certification: gross 1,011.2 PJ contingent and 4,637.2 PJ prospective across PELs 6, 427 and 428, with PEL 427 largest. Orion's net shares are 22.5%, 25% and 20%. Duplicates Orion's own announcement.
20 July 2010drilling result● Neutral
Camurra-2 reached 1,090 m with 6.8 m of net coal in the Moolayember and will be plugged and abandoned as designed. Lab desorption tests are pending, and the joint venture will review all three coreholes before choosing the next drilling.
1 July 2010drilling progress report● Neutral
Eastern Star's monthly report shows Camurra-2 at 902 m with 6.4 m of coal so far in the Moolayember, still coring. The rest covers other ESG wells. Figures for the PEL 6 interest are shown differently from Orion's own.
3 June 2010drilling spud● Neutral
Camurra-2, the third CSG corehole in PEL 6, was due to spud on 3 June 2010, twinning the 1980 Camurra-1 well to 1,100 m. Eastern Star holds 75%, Orion 22.5%.
11 May 2010drilling result▼ BadMajor
Toenda-1 ST1 reached 1,924 m with no significant hydrocarbon shows in either Back Creek target; it is to be plugged and abandoned. Only flammable bitumen fragments were seen. A dry hole for the Willaroo-1 follow-up; Camurra-2 CSG corehole is next.
4 May 2010drilling progress report● Neutral
Toenda-1 ST1 lost the bottom of its drill string at 1,290 m, about 200 m above the primary target, but the fish was recovered with an overshot. Drilling is to resume toward the Back Creek targets.
27 Apr 2010drilling progress report● Neutral
Toenda-1 was plugged back and sidetracked from about 540 m (Toenda-1 ST1), now at 724 m. The plan is to hit the Back Creek targets about 250 m northwest of the original hole. Follows the failure to find the target last week.
20 Apr 2010drilling progress report▼ Bad
Toenda-1 in PEL 6 was drilling ahead at 1,571 m without having reached its primary Permian Upper Back Creek target. Orion thought the well path may have crossed a fault and planned to run logs before deciding on a possible sidetrack.
13 Apr 2010drilling spud● NeutralMajor
Toenda-1 spudded on 11 April 2010 in PEL 6 and had reached 509 m, running casing. The main Upper Back Creek sandstone target is expected around 1,360 m, with planned depth 1,850 m. Orion holds 97.5%.
7 Apr 2010drilling scheduled▲ GoodMajor
Toenda-1, a PEL 6 oil wildcat, is due to spud next week, targeting 1,850 m. It targets a best-case 31.4 million barrels in place, 7.7 million recoverable, near the non-commercial Willaroo-1. Orion holds 97.5%. PEL 6 was also renewed for two years.
1 Apr 2010drilling progress report● Neutral
Eastern Star Gas's bimonthly report: Milguy-1 was released on 24 March at 933 m, confirming ESG now holds 75% and Orion 22.5% of PEL 6 coal seam gas. The rest covers ESG's own wells. Nothing new.
23 Mar 2010drilling result● NeutralMajor
Milguy-1 reached 933 m, cored about 6 m of gassy net coal, then lost its drill string and was plugged and abandoned. Lab results are pending. This completes Stage 2, so Eastern Star Gas now holds 75% of PEL 6 coal seam gas and Orion 22.5%. A third well is planned.
16 Mar 2010drilling progress report● Neutral
Eastern Star Gas's bimonthly report: Milguy-1 in PEL 6 reached 933 m with about 6 m of coal in the Moolayember, but the drill rods parted and fishing began. Rest covers ESG's wells.
1 Mar 2010drilling progress report● Neutral
Eastern Star Gas's bimonthly report: Milguy-1 in PEL 6 reached 869 m with about 3 m of coal in the Moolayember, still drilling. The rest covers ESG's own Narrabri wells. No final result for Orion yet.
16 Feb 2010drilling progress report● Neutral
Milguy-1, the second coal seam gas corehole in PEL 6, spudded on 2 February 2010 and was at 676 m, running the coring assembly. Completing it gives Eastern Star Gas 75% of PEL 6 CSG rights, leaving Orion with 22.5%. No result yet.
2 Feb 2010drilling progress report● Neutral
Eastern Star Gas's bimonthly report: the rig for Milguy-1 in PEL 6 is set up and ready to spud. The rest covers ESG's own Narrabri wells and updated reserves. No new result for Orion.
15 Jan 2010drilling progress report● Neutral
Eastern Star Gas's bimonthly report: Gwydir-1 was plugged and abandoned at 814 m with 4.0 m of coal. The rig moves to PEL 6 for Milguy-1, expected around 22 January. Wet weather suspended ESG's other drilling. Most of the report covers ESG's own wells.
6 Jan 2010drilling result● NeutralMajor
Gwydir-1, the first coal seam gas corehole in PEL 6, reached 814 m with about 4 m of net coal and was plugged and abandoned. This completes Eastern Star Gas's Stage 1 earn-in. Milguy-1 is due to spud this month and would lift ESG to 75% of PEL 6 CSG rights.
16 Dec 2009drilling progress report● Neutral
ESG's December report: Gwydir-1 reached 759 m with 4.0 m of coal in the Moolayember Formation, and will be deepened to look for Permian coal. Other wells are ESG's Narrabri operations.
1 Dec 2009drilling progress report● Neutral
Eastern Star Gas's bimonthly report: Gwydir-1 in PEL 6 is coring at 597 m, having intersected 3.5 m of coal. The rest covers ESG's own Narrabri wells, not Orion's.
1 Dec 2009drilling progress report● Neutral
Orion forwarded the Gwydir-1 update: 597 m, coring ahead, 3.5 m of coal so far in the Moolayember Formation. No final result yet.
16 Nov 2009drilling spud● Neutral
Gwydir-1, the first coal seam gas corehole in PEL 6, spudded on 16 November 2009 and was coring at 32 m. It is the last Stage 1 well for ESG. The drilling follows the earlier notice and carries no result yet.
9 Nov 2009drilling scheduled● Neutral
Orion forwarded Eastern Star Gas's notice that the Gwydir-1 coal seam gas corehole in PEL 6 would spud later that week, with Milguy-1 about a month after. Both complete ESG's farm-in. ESG's internal high-side estimate for PELs 6, 427 and 428 is 3,500 PJ.
29 Sept 2009drilling scheduled● Neutral
Milguy-1 and Gwydir-1, the first CSG coreholes in PEL 6, are expected to start in early November 2009 and take about 60 days. They complete the Eastern Star Gas farm-out, leaving Orion with 22.5% of PEL 6 CSG and 97.5% of conventional.
20 Apr 2009drilling result● Neutral
Kurrabooma-1 reached 438.7 m on 17 April with about 4 m of net coal and visible free gas; total gas volumes will take months to determine. This completes the two-well program. First PEL 6 corehole is planned later in 2009.
14 Apr 2009drilling progress report● Neutral
Kurrabooma-1 was waiting on wet weather at 336.7 m, with planned total depth of 430 m. No results yet.
6 Apr 2009drilling spud● Neutral
Kurrabooma-1 coal seam gas corehole in PEL 428 started on 3 April 2009, planned at 400 m, and was setting surface casing at 64 m. Orion holds 20% of CSG rights there, with ESG operating.
