Posts Tagged ‘Drilling’

ASX Company News: Coretrack Secures Drilling Contract with Newcrest Mining

Friday, September 9th, 2011

Coretrack Limited (CKK) is pleased to announce that it has executed a formal Rig Services Contract with Newcrest Mining Ltd for its GT3000 drill rig. The project is a significant mineral coring program for the purpose of bulk metallurgical samples at Newcrest’s Telfer Operations. The job scope involves pre-collar drilling a number of mineral holes to more than 300 metres followed by 40 metres of coring.

Coretrack Chairman Mr Matt Birney said “We are looking forward to working with an ASX Top 20 Company and one of Australia’s biggest gold producers. We anticipate the contract value to be in excess of $2 million and we expect that this will keep the GT3000 rig busy right up until the previously announced Whicher Range oil and gas contract commences towards the end of the year.”

“The signing of this contract with Newcrest is yet a further endorsement of the rig’s unique capabilities” said Mr Birney. Newcrest Group Manager of Minerals and Technology Dean Collett said “We have been looking forward to getting the GT3000 up to our Telfer Operations as we believe that it has diverse and unique capabilities which are in some cases outside the scope of a standard drill rig.” “These holes are to be cased and cored and we feel that the Coretrack GT3000 is best suited to undertake this work” said Mr Collett.

Coretrack Limited is an ASX listed company that provides technical solutions to the energy industry in the form of down hole tools, products and services. Since the company’s conception, Coretrack has focused primarily on building its highly anticipated integrated core tracking tool, the Core Level Recorder System (CLRS), and introducing the tool into the commercial market. The company has accelerated its operations and growth plan by acquiring one of Australia’s leading drill rig manufacturing/drilling services companies, Globe Drill Pty Ltd. The Globe Drill acquisition has brought together two world class companies, both at the forefront of producing superior products and services for the global energy sector.

www.coretrack.com.au

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ASX Company News: Swick Mining Services Acquires Every Day Mining Services Drilling Operation

Wednesday, June 29th, 2011

Swick Mining Services Ltd (SWK) is pleased to announce it has entered into an agreement to purchase the underground diamond drilling division of Every Day Mining Services (EDS). It is expected that completion will occur on the 30th June 2011. The purchase includes seven drill rigs, vehicles and consumables as well as the transfer of experienced local Cobar based crews from EDMS to Swick. The transaction cements additional work in the Cobar region for Swick with Glencore’s CSA Copper Mine and CBH Resources’ Endeavor Mine. A total of three rigs will be in place with these clients. The drill rigs purchased include five skid mounted underground rigs and two mobile rigs. The skid rigs will be relocated to Swick’s North American Operations where there is a requirement for additional skid rigs to service the market.

Swick’s Managing Director, Kent Swick states “the purchase of EDMS’s underground diamond drilling division is a strategic decision that expands our NSW Operations from the current three mines to five contiguous operations ranging from Broken Hill to Tritton. The transaction will be completed with minimal disruption to EDMS’s clients and employees and is an excellent outcome for both Companies.” “Swick is well established in Cobar with a regional office and workshop in the town and we will be able to service the new clients very well. We have been contracted in the region since 2004 and we are committed to supporting the local underground operations. “

Swick Mining Services (SWK) is one of Australia’s largest mineral drilling contractors, providing high quality, high value underground and surface drilling services to a diverse group of mining houses in gold, iron ore, nickel, copper, lead, zinc and manganese. The Company has a strong reputation for innovation in rig design and drilling practices that delivers improvements in productivity, safety, versatility and value. Swick recently committed to expanding its operations outside of Australia and building a global brand through an expansion into targeted international markets, with an initial focus on North America. EDMS is a diversified mining services business headquartered in Brisbane, Qld. The group comprises four subsidiaries (EDMS Metals Pty Ltd, EDMS Energy Pty Ltd, EDMS Assets & Logistics Pty Ltd and EDMS Human Capital Pty Ltd) servicing the metalliferous, coal and gas sectors in NSW and Qld. EDMS has operational hubs in Cobar, Gunnedah, Rutherford & Newcastle in NSW and Yatala and Brisbane in Qld.

www.swickmining.com.au

http://www.traderdealer.com.au/fundamentals/sws

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ASX Company News: Ausdrill Wins Several New Contracts

Thursday, June 16th, 2011

Ausdrill  Limited  (ASL)  has  been  awarded  several  contracts  which  further  broaden  the services offered by the group.  Ausdrill subsidiary, Energy Drilling Australia Pty Ltd, has entered into a contract with Santos for  the  provision  of coal  seam  gas  (CSG) production  and  exploration  drilling  services  with  the works  predominantly  being  undertaken  in  the  Fairview  area  located  north  of  Roma  in  Central Western Queensland.

Ausdrill, which currently holds 50% of EDA, has also agreed to acquire the balance of EDA, thereby increasing its holding to 100%. EDA  will  utilise  its new  Foremost  Explorer  III‐65  Drilling  Rig  together  with  a  camp  facility  that caters  for  both  EDA  and  Santos  personnel  to  service  this  contract.    The contract  period  is  6 months with the option to extend for an additional 9 months in 3 x 3 monthly .  The  value of this contract is in the order of AUD $15m over the 15 month period.  This  is  the  first  CSG  contract  awarded  to  EDA  and  is  a  significant  milestone  since  taking  the decision in 2009 to enter the emerging CSG market.  EDA believes CSG drilling is a potential high growth market and EDA is focussing on this market by adding additional drilling units and other related services as the requirements and opportunities  arise.

Ausdrill  Limited’s  Australian  drill  and  blast  division  has  been  awarded  letters  of  intent  for  the following contracts – Carina Iron Ore Project owned by Mineral Resources (ASX:MIN).  The contract is planned  to  commence  in  July  2011  for  an  initial  period  of  36  months  with  estimated  value  of  $36m; Ravensthorpe Nickel Operation owned by First Quantum Minerals – the contract is planned to commence in quarter 3 of 2011 for a period of 42 months with an estimated value of $25m. In  relation  to  both  these  contracts,  Ausdrill  will  provide  the  drilling  &  blasting  services,  whilst Synegex, a wholly owned subsidiary of Ausdrill Limited, will provide the explosive supply.

In  addition,  Synegex  has  been  successful  in  securing  a  two  year  contract  with  Redline  Drill  and Blast  through  Hampton  Mining  and  Civil  Services,  the  Open  Pit  Mining  Contractor  for  Sandfire Resources  NL  for  the  supply  of  explosives  at  the  DeGrussa  Copper‐Gold  Project,  Western Australia.  The contract will generate revenues of approximately $8.0 million.

Ausdrill  Managing  Director  Ron  Sayers  said:    “These  contracts  demonstrate  the  success  of  our strategy of building a diversified business, with each of our divisions contributing significantly to Ausdrill’s overall growth.”

www.ausdrill.com.au

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ASX Company News: Swick Mining Services Secures New Drilling Contracts

Saturday, April 2nd, 2011

Swick Mining Services (SWK) is pleased to announce that in recent weeks it has been awarded a number of contracts and contract expansions that will increase its rig utilization by a total of nine rigs by Q1 FY12. The company is also pleased to announce that a number of significant contract renewals have also been achieved. The new drilling contracts and renewals are expected to significantly bolster revenues and lead to improved profitability in the medium term. In addition to the recent new awards and contract renewals referred to above, the Company is also tendering on a number of prospects both in Australia and North America and expects to continue to improve rigs in work as the calendar year 2011 unfolds.

Kent Swick, Managing Director of Swick Mining Services stated, “The Company has had a very successful period in recent weeks, securing a number of contract award and renewing contracts with a number of existing clients.”

Swick Mining Services (SWK) is one of Australia’s largest mineral drilling contractors, providing high quality, high value underground and surface drilling services to a diverse group of mining houses in gold, iron ore, nickel, copper, lead, zinc and manganese. The Company has a strong reputation for innovation in rig design and drilling practices.

www.swickmining.com.au

http://www.traderdealer.com.au/fundamentals/swk

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ASX Company News: WDS Secures Two New Contracts

Friday, March 25th, 2011

Leading integrated services provider to the energy, mining and infrastructure sectors WDS Limited (WDS) announced its E&I Division has been awarded new contracts  with Whitehaven  Coal  and  AGL  Limited.

WDS Managing Director Terry  Chapman said  “These projects, with combined revenue  of $35m, will continue to build WDS’ fabrication, CSG field infrastructure  and  drilling  operations  whilst  delivering  on  our  core  values  of  safety and quality.” The contract with Whitehaven Coal continues WDS’ involvement at their Narrabri operations, the  first  contract  negotiated  by  WDS  following the  acquisition  of WDS  Titeline in  2009  to diversify the drilling customer base. Mr Chapman stated that this was a 2 year contract for Surface in Seam (SIS) and Vertical Production (VP) Drilling, including well management for gas drainage works at Whitehaven’s Narrabri coal mine in NSW. WDS is also pleased to continue its relationship with AGL with the award of a contract for the construction of the Silver Springs Gas Storage Project.  The work involves the engineering, procurement, fabrication and construction of all civil, pipeline, mechanical, compression and electrical & instrumentation components.

WDS is  a  leading  integrated  provider  of  specialist  development, design, engineering, construction, fabrication and maintenance related services to the cross section of energy, mining and infrastructure sectors.

www.wdslimited.com.au

http://www.traderdealer.com.au/Fundamentals/wds

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Swick Mining Services Secures $50 million Contract

Thursday, March 25th, 2010

Swick Mining Services Ltd (SWK) is pleased to announce that it has been awarded a new underground diamond drilling contract with global gold major Newmont valued at in excess of $50 million in revenue over three years. The Newmont contract is one of the largest contracts secured by Swick in its history, underpinning the Company’s revenue for the next three years and further demonstrating Swick’s leading position in the Australian drilling industry. Swick is forecasting a record number of 63 rigs in work across Australia and North America by July 2010. Under the new contract, Swick will provide underground diamond drilling services to Newmont at the Jundee and Tanami Gold Mines, commencing in April 2010 for up to a three year term, with a one year option held by Newmont to extend the contract into a fourth year. Swick has provided underground diamond drilling services to Newmont at Jundee and Tanami since April 2007, utilising the market leading Swick Mobile Diamond Drill rig. In addition, Swick is concluding discussions with Newmont in relation to a surface diamond drilling program, further building upon the Company’s strong relationship with Newmont.

Swick Mining Services (SWK) is one of Australia’s largest mineral drilling contractors, providing high quality, high value underground and surface drilling services to a diverse group of mining houses in gold, iron ore, nickel, copper, lead, zinc and manganese. The Company has a strong reputation for innovation in rig design and drilling practices that delivers improvements in productivity, safety, versatility and value. Swick recently committed to expanding its operations outside of Australia and building a global brand through an expansion into targeted international markets, with an initial focus on North America.

www.swickmining.com.au

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Coretrack Acquires Globe Drill Pty

Tuesday, January 19th, 2010

Coretrack Limited (CKK) is pleased to announce that it has executed a binding Share Sale Agreement to acquire Globe Drill Pty Ltd. Pursuant to the SSA, executed between the Company, Globe Drill, Strange Investments (WA) Pty Ltd and the remaining Globe Drill shareholders , Coretrack will acquire 100% of the issued share capital of Globe Drill. Globe Drill is one of Australia’s premier technology, manufacturing (and soon to be drilling services) companies, which develops cutting edge drilling equipment for the rapidly growing and increasingly important renewable energy sector. It is anticipated these rigs will result in significant time savings to exploration and production focused companies who require wells drilled to depths of up to 3000 metres. Globe Drill has a licence to use intellectual property rights which are owned by SIPL as trustee for the Strange Family Trust.

As part of Transaction, SIPL will enter into a new licence agreement with Coretrack and Globe Drill in respect of these intellectual property rights. The Transaction is expected to create a leading drilling technology and services company. With the acquisition of Globe Drill, Coretrack will be in a position to provide uniquely tailored technology, focused primarily on servicing the energy and mineral sectors and specialising in drilling at depths of up to 3000 metres with incredible efficiency and speed. This will open up market opportunities well beyond that in the conventional energy/mineral sectors, including geothermal, shale gas and coal bed methane. As a result of the Transaction, Shareholders and other stakeholders can expect a larger, more diverse company with a specialised range of products and services. The merged entity will also employ some key industry professionals, R&D specialists, and engineering/manufacturing professionals. Consideration for the Transaction comprises of  6,583,273 Shares, to be issued; and that number of Shares that equates to the net amount (after deducting all costs incurred in obtaining a payment in relation to the R&D Tax Offset) received by Globe Drill in respect of the R&D Tax Offset divided by the volume weighted average price of Shares for the five trading days preceding the date on which Globe Drill receives the R&D Tax Offset, to be issued on the date which is 5 Business Days after the R&D Date.

Coretrack Limited is an ASX listed company which provides leading technological solutions to the global oil & gas industry. Coretrack’s primary focus since listing has been the commercialisation of its revolutionary and patented technology, the Core Level Recorder System.

www.coretrack.com.au

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