Perth Basin neighbours Hardman Resources and Bounty Oil & Gas are working over their Woodada-19 well. There is a lot of pressure in the reservoir it seems, but the mud weight has gummed up the formation, preventing adequate flows. The partners plough on.
A workover has worked a treat for the Harriet JV partners - Apache, Kufpec and Tap. After installing a concrete plug to keep water out of the production zone and reopening the South Plato-1 well, the companies reported flows of around 10,000 barrels of oil per day.
Looking towards production on a bigger scale, two of the OPEC members want to lift their output levels. Algeria and Nigeria want to put the hard word to the cartel at their meeting next month - breaking with tradition and meeting in Japan to coincide with the International Energy Forum being held in the same city. What odds are being given on a green light to that proposal, when one considers the Nigerian OPEC representative is also the cartel's president?
On the renewable energy front, Energy Developments have solved their problems after major shareholder NRG after Infratil Ltd and Orion New Zealand stumped up for almost 10% each.
WA's reigning corporate king Michael Chaney has led his Wesfarmers group to a record $414 million profit. It seems the only less than shining light in the portfolio was their energy and LPG divisions, but who's counting?
When is a gas field commercial or not? That seems to be the question after Eastern Gas took control of the (non-producing) Coonarah gas field with its 11 petajoules of reserves this week, trumpeting it as NSW's first commercial gas field. Regional power producer Country Energy are going to feed the gas into a new build power station in the Narrabri region. Even though Sydney Gas has been selling Camden CBM into the AGL grid for over 12 months now and banking the proceeds, without proven reserves that project apparently doesn't count as commercial.
What is commercial without doubt is the reserves of the South Australian Sellicks-1 oil discovery, announced this week by partners Beach Petroleum and ASX-newbie Cooper Energy. Their 10 metres of net pay may yield anything from 0.2 to 1.5 million recoverable barrels of oil.
And some good news finally from some out of the out of favour stocks on the bourse. Kalrez Energy, even if it has an anorexic 2.5% stake, has reported a 7000 bopd flow from the deviated Oseil well in Indonesia. With over 600 million shares on issue it will take more than that to excite the stock but it's better news than has come from the company in recent times.
Also pleasing sorely-tested shareholders was CityView Corporation. After a long testing period CityView's partner in Indonesia, Medco, has released a reserves figure of 25 bcf for the Pidawan-1 gas discovery. CityView has a net 16.5% interest.
