Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Sept 2008drilling progress report▲ Good
Drillsearch (2% holder) reports Santos-operated Naccowlah West-22 reached 1,750 m, and a drillstem test recovered oil. It will be cased and suspended as a future production well, with the rig moving to Jackson 57.
3 Sept 2008drilling progress report▲ Good
Beach reports Santos-operated Naccowlah West-22 was successful, at 1,750 m, to be cased as a Birkhead oil producer after a test recovered oil. Marabooka-15 reached TD as a future gas well. Rest covers Beach's own Bass Basin and Otway wells.
2 Sept 2008drilling progress report● Neutral
AWE reports Henry-2 pilot well in Santos-operated VIC/P 44 reached 657 m and set 13 3/8 inch casing, preparing blowout preventers. No result yet.
28 Aug 2008drilling progress report▲ Good
Drillsearch reports Santos-operated Naccowlah South-18 was cased and suspended as a Birkhead/Hutton producer and rig released 20 August. Naccowlah West-22 spudded 22 August, at 1,448 m with shows in several formations.
27 Aug 2008drilling progress report▼ Bad
Third-party Beach weekly report: Santos-operated James-2 (Beach 17.14%) was plugged and abandoned at 2,456 m, a dry appraisal. Naccowlah West-22 is drilling at 1,072 m and Big Lake-89 is drilling ahead.
27 Aug 2008drilling spud● Neutral
AWE reports Henry-2 pilot well in VIC/P 44 (Santos operator, 50%) began drilling 24 August, and was at 581 m. A development sidetrack follows. It is the last well of the Otway program, supporting the Henry first gas target of H1 2009.
22 Aug 2008drilling progress report● Neutral
Bow says Santos has delayed completion and testing of the Cuisinier-1 oil discovery (ATP 752P, Bow 15%) to early next week, again. Testing of the Doonmulla and Birkhead shows precedes the Murta zone and should take up to two weeks.
21 Aug 2008drilling progress report▲ Good
Drillsearch (2% holder) reports Santos-operated Naccowlah South-18 reached 1,902 m and is being cased and suspended as a Birkhead/Hutton oil producer. This follows Beach declining to case it, so it is a small producer rather than a failure. Rig moves to Naccowlah West-22.
20 Aug 2008drilling progress report▼ Bad
Third-party Beach weekly report: Beach elected not to join casing Naccowlah South-18, which suggests it is not a commercial producer (inference). Marabooka-14 was cased as a gas producer, and James-2 is logging.
15 Aug 2008drilling progress report● Neutral
Drillsearch reports Santos-operated Naccowlah South-18 reached 1,929 m with oil shows in the Birkhead, Hutton and Basal Jurassic, and was preparing to run logs. Drillsearch's Great Artesian merger was implemented 12 August. No result yet.
15 Aug 2008drilling progress report● Neutral
Bow says Santos will begin completing and testing the Cuisinier-1 oil discovery in ATP 752P (Bow 15%) early next week, with up to two weeks of testing. Production had been expected early Q3 2008. The rest concerns Bow's own CSG project.
13 Aug 2008drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Marabooka-13 was cased as a future gas producer. James-2 and Naccowlah South-18 are drilling in the Hutton, and Marabooka-14 is starting. No new results.
12 Aug 2008drilling result▲ Good
AWE reports the Netherby-1 development sidetrack reached 2,517 m in the Waarre A, with good gas shows and logs indicating very good reservoir. It will be completed for production, and Henry-2 follows. Santos holds 50% and operates.
8 Aug 2008drilling progress report▼ Bad
Drillsearch (2% holder) reports Santos-operated Naccowlah South-17 was plugged and abandoned at 1,796 m, with poor upper Hutton reservoir and swept oil in the lower Hutton. Naccowlah South-18 spudded 5 August. Repeats the Beach report.
6 Aug 2008drilling progress report▼ Bad
Third-party Beach report: Santos-operated Naccowlah South-17 was plugged and abandoned as unsuccessful. James-2 and Naccowlah South-18 are in progress, and Marabooka-13 was cased as a future gas producer.
4 Aug 2008drilling result▲ GoodMajor
AWE says Netherby-1 in VIC/P 44 (Santos operator, 50%) found good-quality gas-bearing Waarre A sandstone, in line with pre-drill expectations. It is being sidetracked as a producer tied to Henry and Casino, with Henry-2 to follow. This offsets the earlier Pecten East dry hole.
30 July 2008drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Naccowlah South-17 and James-2 are in progress in the Cooper Basin. Kirralee-2 and Mudera-16 are also drilling. No new results.
29 July 2008drilling progress report▲ Good
AWE reports Netherby-1 in Santos-operated VIC/P 44 (Santos 50%) reached 1,870 m and is logging, with gas shows over about 22 m of Waarre A sandstone. A development sidetrack is planned if successful. Final evaluation is pending.
23 July 2008drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Mudera-15 and Mudera-14 RE1 are to be or are cased and suspended as future Coorikiana gas producers. Kirralee-2 is cementing surface casing.
22 July 2008drilling progress report● Neutral
AWE reports Netherby-1 in Santos-operated VIC/P 44 (Santos 50%) was drilling at 1,240 m, with a planned depth of 1,823 m. A follow-up development sidetrack is planned if it succeeds. No result yet.
21 July 2008drilling result▼ Bad
Third-party Vicpet release confirms Santos' Hudson-1 was plugged and abandoned as a dry hole at 2,430 m, with only residual oil. Vicpet was carried and keeps 15% of ATP 752P. Repeats the result already reported by Bow.
21 July 2008drilling result▼ BadMajor
Bow reports Santos' Hudson-1 in ATP 752P was plugged and abandoned as a dry hole at 2,430 m, after logs showed only residual oil. This follows the Cuisinier-1 oil discovery. Bow still sees other prospects between the two wells.
18 July 2008drilling progress report● Neutral
Bow update: Hudson-1 reached total depth of 2,430 m with minor oil shows throughout, and wireline logging was planned for the weekend. No testing decision has been made.
18 July 2008farm in farm out completion▲ GoodMajor
Santos confirms the PETRONAS deal for 40% of Gladstone LNG is now unconditional after regulatory approvals, including from FIRB, and will complete shortly. PETRONAS pays US$2.008bn on completion, plus US$500m at final investment decision on a second train.
17 July 2008drilling progress report● Neutral
Bow update: Hudson-1 was at 2,347 m drilling in the Doonmulla sandstone, with minor oil shows in all zones so far. Planned total depth is 2,434 m.
16 July 2008drilling progress report● Neutral
Bow update: Hudson-1 was at 2,272 m, running in after a bit change, with minor oil shows. Jawsone-1 (Mosaic's well) was setting casing. No new result.
16 July 2008drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Deparanie-2 was cased and suspended pending evaluation, and Big Lake-88 was plugged and abandoned as unsuccessful. Mudera-14 RE1 is a gas development re-entry.
16 July 2008drilling spud● Neutral
AWE reports Pecten East-1 was plugged and abandoned at 1,993 m, and Netherby-1 began drilling 15 July in Santos-operated VIC/P 44 (Santos 50%). It targets the Waarre A sand to 1,823 m, about 4 km north of Henry-1.
15 July 2008drilling progress report● Neutral
Bow update: Hudson-1 was at 2,262 m with minor oil shows, still short of the Doonmulla target. Also notes Mosaic's Jawsone-1 spudded in the Surat Basin, which is not a Santos well.
15 July 2008drilling progress report● Neutral
Third-party Victoria Petroleum release repeating that Santos' Hudson-1 was at 2,262 m with minor oil shows. Vicpet is carried and keeps 15% of ATP 752P. Nothing new on the well.
