31 Oct 2017drilling progress report● Neutral
Ungani 4: surface casing cemented at 878m, BOP tested; minor rig repairs before drilling ahead to the next casing point at ~2,000m.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
24 Oct 2017drilling progress report● Neutral
Ungani 4 (new development well, additional drainage point in the Ungani Oilfield) spud, drilled to 880m surface casing point.
20 Oct 2017drilling spud▲ GoodMajor
Ungani 4 development well spudded at 19:00hrs on 19 October 2017, an additional drainage point in the Ungani Oilfield intended to verify reservoir continuity and help take field production toward its 3,000 bopd target.
17 Oct 2017drilling progress report▲ Good
The Ungani 2 ESP workover was completed on time and on budget, adding extra perforations that opened up previously bypassed oil pay; the rig then moved to the Ungani 4 location, with spud expected 19 October 2017.
10 Oct 2017drilling progress report▲ Good
Ungani 1ST1's ESP workover completed successfully on time and budget; Ungani 2's workover is underway with an extra 12m of reservoir to be perforated before its own ESP is run.
3 Oct 2017drilling progress report● Neutral
Ungani 1ST1 and Ungani 2 production wells shut in for a workover campaign: recovering old completion strings to re-complete both with electric submersible pumps (ESPs), after which the rig moves to spud the new Ungani 4 development well.
26 Sept 2017drilling progress report▲ Good
Buru's DDGT1 rig began workovers to fit electric submersible pumps to the existing Ungani 1 and 2 wells (shutting in production for about 18 days), on schedule ahead of the new Ungani 4 development well, expected to spud the week of 16 October 2017.
23 Aug 2017drilling scheduled▲ Good
Buru locked in its drilling rig, crew, and Halliburton well services ahead of a planned drilling program while flagging its first Ungani oil-lifting cargo (via Trafigura) was on track for early September 2017 - the build-up behind the Ungani 4 and Ungani 5 wells spudded later that year.
9 Dec 2016drilling progress report▲ GoodMajor
Further Asgard 1 gas testing added confidence in the Laurel tight-gas accumulation as DMP accepted both the Asgard/Valhalla Discovery Assessment Report and a new Special Prospecting Authority application, while Ungani restart engineering and oil-drilling heritage clearances progressed.
18 Apr 2016resource reserve update▲ GoodMajor
DeGolyer and MacNaughton's independent review confirmed the Valhalla area holds a nationally significant multi-TCF wet gas accumulation, defining initial Contingent Resources around the two stimulated TGS wells - a key step toward commercialising the Laurel tight gas play.
11 Feb 2016drilling progress report● Neutral
Ungani Far West 1's production tubing was cemented to 2,400m and the drilling rig released; a flow test to confirm oil column height and productivity follows - the last weekly drilling report for this well.
8 Feb 2016drilling progress report▲ Good
Ungani Far West 1's logs found up to a 41m potential oil column with vugular porosity and oil bleeding from cores (4 barrels of 41-degree API oil recovered at surface); a completion string was being run to determine the column's true height and productivity.
4 Feb 2016drilling progress report▲ Good
Ungani Far West 1 cored to 2,405m with excellent recovery and continued oil shows; 41-degree API light oil was recovered from the wellbore during logging.
28 Jan 2016drilling progress report▲ Good
Ungani Far West 1 cored to 2,365m; the Ungani Dolomite top (2,341.4m) showed well-developed vugular porosity, strong mud gas shows, and oil bleeding from cores.
21 Jan 2016drilling progress report● Neutral
Ungani Far West 1 coring operations commenced through the Ungani Dolomite objective.
20 Jan 2016drilling progress report▲ Good
Ungani Far West 1 began coring toward the Ungani Dolomite target as the TGS wells kept unloading stimulation fluid with rising wellhead pressure, flaring gas at unstabilised rates of 0.5-2.0 mmcfd.
14 Jan 2016drilling progress report▲ Good
Ungani Far West 1's logging/sampling confirmed the ~14m Anderson Formation oil column (30.5 deg API oil); 5-inch casing was run to 2,327m and the coring rig is mobilizing to core the Ungani Dolomite section.
7 Jan 2016drilling progress report▲ GoodMajor
Ungani Far West 1 wireline/pressure testing identified a 5m high-permeability (~450md) oil-bearing sandstone in the Anderson Formation at 1,560m with a potential 14m oil column; an oil sample was recovered and oil reached surface.
31 Dec 2015drilling progress report▲ Good
Ungani Far West 1 reached 2,205m with new oil shows and strong mud gas readings in Anderson Formation sandstones (1,855-1,907m).
24 Dec 2015drilling progress report● Neutral
Ungani Far West 1 drilled ahead to 1,770m, heading toward the Ungani Dolomite target below 2,100m.
22 Dec 2015drilling progress report● Neutral
Ungani Far West 1 drilled ahead to 1,745m even as its rig owner (Titan Energy Services/Atlas Drilling) entered voluntary administration, while the TGS wells continued cleanup flow with Valhalla North 1 reconfigured to test its top two stimulated zones.
17 Dec 2015drilling progress report● Neutral
Ungani Far West 1 reached 1,282m section TD with 7-inch casing cemented; will drill ahead to the Ungani Dolomite target before a dedicated coring rig cores the reservoir section.
10 Dec 2015drilling progress report▲ Good
Ungani Far West 1 reached 1,060m with intermittent oil shows in Poole/Upper Grant Formation sandstones, similar to known Lennard Shelf accumulations.
3 Dec 2015drilling progress report● Neutral
Ungani Far West 1 (new appraisal well, 50/50 with Diamond Resources under the Ungani Development Funding agreement) spud and drilled to 314m with surface casing cemented.
30 Nov 2015drilling spud● Neutral
Ungani Far West 1 spudded to appraise the western extent of the Ungani structure, a separate mapped culmination that could add materially to Ungani's estimated oil volumes if productive.
11 Nov 2015drilling result▼ BadMajor
Both Fitzroy Blocks wells concluded negatively: Senagi 1 was logged and abandoned after cutting 286m of core (97% recovery, useful for future reservoir correlation) with no commercial result, and Victory 1 was plugged and abandoned after casing problems made it too costly to properly test its ambiguous porosity zone.
10 Nov 2015drilling progress report▼ Bad
Senagi 1 was logged, cored (286m, 97% recovery), and plugged/abandoned per regulations - no more weekly reports for this well; Victory 1's deep lost-circulation zone below 1,945m still can't be assessed for hydrocarbons due to poor log quality and hole conditions.
5 Nov 2015drilling progress report● Neutral
Victory 1: further logging runs attempted before a required casing cement squeeze and completion.
5 Nov 2015drilling progress report● Neutral
Senagi 1 was cored to its 1,045m total depth with wireline logs now being acquired.
2 Nov 2015drilling progress report● Neutral
Victory 1's logs showed possible cavernous porosity below 1,945m but couldn't confirm hydrocarbons due to hole conditions, while Senagi 1 continued coring dolomite with excellent recovery but no further shows.