Past year: ▼ 50%(0.10c – 0.20c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 July 2015drilling spud▲ GoodMajor
Operator CEGX is drilling White Hat 21#1, an offset about 1,500 metres north-east of White Hat 20#1, following that well's production. Winchester holds 50% and pays US$570,000 of the US$1.14m budget; target depth is 7,100 feet in the Ellenburger.
4 Nov 2014farm in farm out agreement▲ GoodMajor
Winchester bought a 50% interest in the White Hat 20#1 exploration well from Carl E Gungoll Exploration (operator, keeps 50%), about 6 miles from Thomas 119-1H. Logs show Ellenburger pay zones, and the well is being prepared for flow testing. Net budgeted cost is A$1 million.
23 Sept 2014drilling progress report▲ Good
Winchester confirmed 215,416,672 shares on issue (100,260,422 escrowed). The Thomas 119-1H horizontal well, drilled 2,500 feet into the Ellenburger, shows just over 700 feet of log-interpreted pay. Operator CraRuth is preparing the first of 20 test intervals; Winchester holds 50%, falling to 25% after payback.
