Drillsearch Energy Limited Quarterly Report March 2010
Drillsearch Energy Limited Quarterly Report March 2010 Highlights Revenue of 1.91m for the quarter, up 11% on the previous quarter. Production of 34,242 bbls, down 19% on the previous quarter. Cash position remains strong at 8.1m.…
Production and Revenue Australian oil production for the March quarter was 19,566 bbls, which was 25% below the prior quarter. This larger than expected decline was due to flooding in the Cooper basin affecting production combined…
Development and Exploration Drillsearch Cooper Basin Assets Cooper Basin Flooding Similar to all companies active in the Cooper Basin, the Companys field operations in the Western Cooper Basin have been significantly impacted by…
Satellite image of the South West Cooper Basin showing the extent of flooding Mature Oil Business During the quarter there was no drilling activity for either Naccowlah (Drillsearch 2%) or Tintaburra (Drillsearch 11%) joint…
This assessment was conducted by the Company with the independent technical review with MBA Petroleum Consultants Pty Ltd (MBA) of the Prospective unconventional gas resource potential of deep coal seams in the Permian and Triassic…
Corporate Inclusion in the SP/ASX All Ordinaries Index The Company was delighted to see its inclusion in the Standard and Poors ASX All Ordinaries Index from March 2010. It points to the Companys steady growth and strong…
Portfolio Rationalisation In keeping with the focus of the Companys activities in the Cooper Basin, the Company is continuing its efforts to: (1)increase its interest in core Cooper Basin assets and areas of focus and; (2)divest or…
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