Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 May 2007drilling progress report● Neutral
Third-party Beach weekly report: Narcoonowie 6 was cased and completed as a Hutton oil producer, Nuata East 1 was plugged and abandoned, and Burke 10 had a misrun test. Santos-operated Cooper wells continued.
10 May 2007drilling progress report▲ Good
Third-party Drillsearch update: Kooroopa 3 (Tintaburra, Santos 89%) found about 7.5 m of net oil pay, extending the Kooroopa field south. Nuata East 1 (Santos 55.5%) showed no significant hydrocarbons and was being abandoned.
9 May 2007drilling progress report▲ Good
Third-party Beach weekly report: Santos-operated Cooba 2, Goyder 5 and Moomba 177 (Santos 67%) were cased as gas producers, and Narcoonowie 6 was cased as a potential oil producer. Burke 10 was preparing a test.
3 May 2007drilling progress report▲ Good
Third-party Drillsearch update: Takyah 4 (Tintaburra, Santos 89%) found about 2.5 m of net oil pay and Wilson 9 (Naccowlah, Santos 55.5%) found oil pay. Both were cased as potential producers, and Takyah may get more delineation wells.
2 May 2007drilling progress report▲ Good
Third-party Beach weekly report: Santos-operated Caroowinnie 1 (Santos 67%) recovered 45.5 bbls of oil on a test, Wilson 9 (Santos 56%) was cased as a potential oil producer, and Moomba 176 was cased as a gas producer.
26 Apr 2007resource reserve update▲ Good
Third-party Nexus announcement: Nexus declared Longtom commercial, booking 350 PJ of gas and 4 million barrels of condensate. First gas is forecast for Q3 2008. Revised gas sales agreement signed with Santos, which can take up to 35% of the project.
26 Apr 2007drilling progress report▲ Good
Third-party Drillsearch update: Ipundu North 12 (Tintaburra, Santos 89%) and Graham 2 (Naccowlah, Santos 55.5%) found oil pay and were cased as future producers. Fajita 1 was water wet and abandoned.
24 Apr 2007drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated wells (Santos 56-67%) in the Cooper Basin continued. Graham 2 was cased and suspended as a successful oil well, Fajita 1 was plugged and abandoned, and Moomba 39 ST1 was a successful gas well.
20 Apr 2007drilling progress report● Neutral
Third-party Drillsearch update: Endeavour 37 (Tintaburra, Santos 89%) was abandoned on poor reservoir quality. Ipundu North 12 is the 100th well in the Cooper Oil Project's Tintaburra program. Jackson South 11 was cased as a future oil producer.
18 Apr 2007drilling progress report▲ Good
Third-party Beach weekly report: Santos-operated Fly Lake 21 (Santos 67%) was cased and suspended at 2,965.5 m. Jackson South 11 and Tostada 1 (Santos 56%) were also cased and suspended as successful oil wells.
12 Apr 2007drilling progress report▲ Good
Third-party Drillsearch update: Endeavour 29 (Tintaburra, Santos 89%) found about 4.5 m of potential net oil pay. Tostada 1 found about 4.5 m of potential pay, and Jackson South 10 was cased as a future oil producer. All three wells were cased and suspended.
11 Apr 2007drilling progress report▲ Good
Third-party Beach weekly report: Santos-operated Jackson South 10 (Santos 56%) was cased and suspended as an oil well. Moomba 36 ST1 was a successful gas well, and Jackson South 11 and Tostada 1 were drilling, Tostada 1 preparing a test.
5 Apr 2007drilling result▲ Good
Third-party Magellan report: Thungo-11 at Nockatunga (Santos 61.006% operator) was cased as a future oil producer, completing a 10-well program in which all ten wells were cased for production. Several wells are expected online within two months.
5 Apr 2007farm in farm out agreement● Neutral
Third-party Tap announcement: Tap will earn a 15% interest in the Totem block of Santos-operated WA-191-P from Nippon if Totem is a commercial discovery, taking Tap's Totem-1 interest to 23.2%. Totem-1 is expected in Q2 2007.
5 Apr 2007drilling progress report▼ Bad
Third-party Drillsearch update: Endeavour 31 (Tintaburra, Santos 89%) was dry and abandoned, and Tequila 1 (Naccowlah, Santos 56%) was abandoned after recovering only about 1 barrel of oil-cut mud. Tostada 1 and Jackson South 10 were drilling.
4 Apr 2007drilling progress report● Neutral
Beach weekly report: Santos-operated Tequila 1 (Santos 56%) was plugged and abandoned at 1,588 m after a test recovered only a little oil-cut mud. Fly Lake 23 and Barina 8 were cased as gas wells.
30 Mar 2007drilling progress report▲ Good
Third-party Drillsearch update: Mulberry 44 at Tintaburra (Santos 89% operator) found about 7 m net oil pay and was cased as a producer. Tequila 1 in Naccowlah (Santos 56%) had oil shows, with logging tools stuck.
22 Mar 2007drilling progress report● Neutral
Third-party Magellan report: Santos-operated Kamel-1 at Nockatunga (Santos 61.006%) reached 1,391 m with Murta oil shows, and a drill stem test is under way. Non-Santos Burrum-2 coal seam well found low permeability and was abandoned.
22 Mar 2007drilling progress report▲ Good
Third-party Drillsearch update: Huckleberry 2 at Tintaburra (Santos 89% operator) found 2-3 m net oil pay, called a potentially significant extension of the Mulberry field. Gunna North 1 (Santos 56%) found 2.4 m net pay.
21 Mar 2007drilling progress report▲ Good
Beach weekly report: Santos-operated Epsilon 11 (Santos 67%) was cased and suspended as a gas well at 2,221 m. Gunna North 1 (Santos 56%) found 2.4 m net oil pay. Fly Lake 23 and Dullingari 60 are drilling.
15 Mar 2007drilling progress report▲ Good
Third-party Magellan report: Santos-operated Muthero-6 reached 1,446 m TD with oil shows and is being cased as a future oil producer (Santos 61.006%). Burrum-2, a non-Santos coal seam gas well, continues coring.
15 Mar 2007drilling progress report● Neutral
Third-party Mosaic weekly report: Downlands South-1 (PL 119, Santos 14.87%) is drilling at 960 m toward a planned 1,927 m. No new results.
15 Mar 2007drilling progress report● Neutral
Third-party Drillsearch update: at Tintaburra (Santos 89% operator), Mulberry 30 (about 2 m net pay) and Mulberry 42 (about 2.5 m) were cased as producers. Mulberry 45 found no oil shows and tight reservoir, and was plugged and abandoned.
14 Mar 2007drilling progress report● Neutral
Beach weekly report: Santos-operated Moomba-177 (Santos 67%) reached 2,371 m TD and was cased and suspended for future deepening by a specialised rig. Epsilon-11 is drilling at 1,890 m. No new results.
12 Mar 2007drilling spud● Neutral
Third-party Mosaic announcement: Downlands South-1 in PL 119 spudded 11 March, targeting 1,927 m. Santos holds 14.87% of the permit now, falling to 12.18% after the Ausam farm-in stage. P50 potential is 2.3 BCF gas and 0.73 million barrels oil.
9 Mar 2007drilling progress report▲ Good
Third-party Drillsearch update: at Tintaburra (Santos 89% operator), Mulberry 28 (about 9 m net oil pay) was cased as a future producer. Mulberry 30 reached 1,377 m with weak shows; Mulberry 45 is coring. Cumulative 94 wells since February 2006.
8 Mar 2007drilling progress report● Neutral
Third-party Magellan report: Santos-operated Muthero-5 at Nockatunga (Santos 61.006%) was cased and suspended as a future oil producer; Muthero-6 is drilling at 792 m. Beach's Telowie-1 was plugged and abandoned at 1,384 m.
7 Mar 2007drilling progress report● Neutral
Beach weekly report: Santos-operated Dullingari-59 was cased and suspended as a future oil producer, and Moomba-177 is drilling at 1,813 m. Beach's Telowie-1 was plugged and abandoned at 1,384 m. Tipton-26 suspended.
2 Mar 2007drilling progress report● Neutral
Third-party Drillsearch update: at Tintaburra (Santos 89% operator), Mulberry 27 (about 7 m net oil pay) and Mulberry 41 (DST recovered oil) were cased as future producers. Mulberry 28 and 45 are next.
1 Mar 2007drilling progress report● Neutral
Third-party Magellan report: Santos-operated Muthero-5 at Nockatunga (Santos 61.006%) reached 1,446 m TD with oil shows in the Murta and Birkhead, with logging next. Beach's Telowie-1 is drilling ahead.
