14 June 2012drilling progress report● Neutral
Yulleroo-3 reached its 2,208m intermediate casing point ahead of logging, casing, and drilling toward the Upper Laurel objective.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
12 June 2012drilling progress report▲ GoodMajor
Paradise-1's deepening reached 2,798m; the Upper and Lower Laurel Clastics tops were identified (1,968m/~2,731m), and the interpreted top of the regional overpressured section (2,786m) brought a sharp jump in gas readings.
7 June 2012drilling progress report● Neutral
Yulleroo-3's surface casing was cemented to 595m and the well reached 1,675m, heading toward its 2,200m intermediate casing point.
7 June 2012drilling progress report▲ Good
Paradise-1's deepening reached 2,763m in the Upper Laurel Clastics with gas shows consistent with the Valhalla wells.
5 June 2012drilling progress report▲ GoodMajor
Valhalla North-1 confirmed the Valhalla gas accumulation is likely a regional basin-centred gas system; Paradise-1's deepening showed similar Upper Laurel gas shows, and Yulleroo-3 began appraising whether Yulleroo shares the same basin-centred character.
31 May 2012drilling progress report● Neutral
Yulleroo-3 reached 597m with surface casing running, heading toward a 2,200m intermediate casing point.
31 May 2012drilling progress report▲ Good
Paradise-1's deepening reached 2,392m (slowed by rig issues and hole deviation); the Upper Laurel Formation top (1,968m) showed gas shows similar to the Valhalla wells, though at lower absolute levels.
28 May 2012drilling progress report● Neutral
Yulleroo-3 (spudded 25 May, the third well of the 2012 Buru-Mitsubishi program) reached 396m.
24 May 2012drilling progress report● Neutral
Paradise-1's deepening reached 1,876m in the Anderson Formation, heading toward the Upper Laurel Formation.
21 May 2012drilling progress report● Neutral
Paradise-1's deepening operation resumed (originally suspended in 2010 with an untested 9m oil zone in the Anderson Formation at ~900m), starting with cement squeeze and integrity testing at the casing shoe.
7 May 2012resource reserve update▲ GoodMajor
Independent consultants McDaniel & Associates confirmed Buru's Valhalla area holds a genuine Basin Centred Gas Accumulation, estimating a risked mean of 6.5 TCF of gas and 187 million barrels of liquids recoverable (15 TCF/432 million barrels unrisked) - a result Buru said would be further tested by the planned Asgard-1 well 35km to the southeast.
8 Mar 2012drilling progress report▲ GoodMajor
Completed Valhalla North-1 logging confirmed a similar gas-bearing reservoir to Valhalla-2 over a ~1,300m interval; the well will be cased and suspended for further evaluation, freeing the rig for an initial Yulleroo appraisal well.
1 Mar 2012drilling progress report▲ Good
Valhalla North-1's logs (to 3,033m, with LWD tools for the unstable remainder) suggested a gas-bearing reservoir similar to Valhalla-2.
23 Feb 2012drilling progress report▲ GoodMajor
Valhalla North-1 reached 3,356m (pulling out for a bit inspection due to slow drilling); the Lower Laurel Clastics top (~2,830m) showed continued high background gas with peaks up to 1,300 units.
16 Feb 2012drilling progress report▲ Good
Valhalla North-1 reached 2,953m with background gas rising to ~10 units after drilling out the casing shoe.
9 Feb 2012drilling progress report● Neutral
Valhalla North-1's intermediate casing was cemented to 2,035m, preparing to drill ahead to the first (Upper Laurel) objective.
2 Feb 2012drilling progress report● Neutral
Valhalla North-1 reached its 2,039m intermediate casing point with wireline logs acquired, preparing to run casing.
27 Jan 2012drilling progress report● Neutral
Valhalla North-1 (spudded 17 January) had 13⅜-inch casing run to 538m and was drilling ahead in 12¼-inch hole toward its planned 3,400m total depth.
17 Jan 2012drilling spud● Neutral
Valhalla North-1 spudded 17 Jan 2012, the fifth well in the Buru-Mitsubishi Joint Exploration Program in EP 371 (50/50, Mitsubishi carrying 80% of cost).
4 Jan 2012drilling progress report▲ Good
Ungani-2's initial clean-up flow finished (up to 1,026 bfpd at 55% oil cut) and the well was suspended ahead of the Ungani Field's extended production test, freeing Ensign Rig #32 to drill Valhalla North-1.
3 Jan 2012drilling progress report▲ GoodMajor
Ungani-2's cleanup flow began with natural flow established and fluid rates, oil volumes, and pressures all rising as expected, ahead of a short multi-rate test and suspension pending the Ungani Field's extended production test.
29 Dec 2011drilling progress report● Neutral
Ungani-2's production casing and tubing were run in preparation for cleanup flow, with results expected 3 January.
22 Dec 2011drilling progress report● Neutral
Ungani-2 was plugged back to 2,278m and prepared for production completion (7-inch casing), with cleanup flow expected around 30 December.
15 Dec 2011drilling progress report● Neutral
Ungani-2 reached its 2,800m total depth; the deepening below the reservoir was aimed at understanding the geology and stratigraphy of shows previously seen below Ungani-1's reservoir section.
12 Dec 2011drilling progress report● Neutral
Ungani-2's second core (2,327.8-2,354.8m) recovered poorly due to the reservoir's friable, vugular nature; the well reached 2,587m with wireline logging and pressure testing now underway.
1 Dec 2011drilling progress report▲ GoodMajor
A 63m core cut at Ungani-2 (2,242-2,305m, 5.1m recovered) showed oil shows consistent with Ungani-1ST1, with live oil visibly bleeding from vugs and fractures in the recovered core - a strong positive sign as the well reached 2,327m.
24 Nov 2011drilling progress report● Neutral
Ungani-2's 9⅝-inch casing was cemented to 2,234m.
23 Nov 2011drilling progress report▲ GoodMajor
Ungani-2 reached its 2,440m casing point; the top of the oil-bearing Ungani Dolomite was found at 2,230m (27m high to prognosis, near Ungani-1ST1's own reservoir elevation) with similar oil shows - real confirmation the field extends between the two wells.
17 Nov 2011drilling progress report● Neutral
Ungani-2 reached 1,962m.
10 Nov 2011drilling progress report● Neutral
Ungani-2 (spudded 2 November) reached 1,095m after casing at 628m, heading toward a 2,300m intermediate casing point.