Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Oct 2007farm in farm out agreement▲ Good
Geodynamics confirms the binding heads of agreement: Origin farms into 30% of its South Australian geothermal tenements and Lightning rig, contributing up to $105.6m. Funds go to the next three to four wells and a pilot plant. Subject to shareholder approval at a December meeting.
29 Oct 2007farm in farm out agreement▲ GoodMajor
Origin signs a binding heads of agreement for a 30% stake in Geodynamics' South Australian geothermal tenements, committing $96m of project spending plus 30% of ongoing costs, and a further $9.6m if Stage One is met. It keeps its 10% Geodynamics shareholding. Needs Geodynamics shareholder approval in December.
29 Oct 2007farm in farm out agreement▲ Good
Geodynamics' media release repeats the Origin farm-in terms: 30% of its South Australian tenements for up to $105.6m of project costs, with Geodynamics operating at 70%. Its board unanimously supports it, pending a December shareholder vote. Nothing new for Origin.
24 Oct 2007drilling progress report● Neutral
QGC weekly report: Argyle #31 (654m) is cased awaiting a workover rig, and Argyle #32 (644m) is being logged (Origin CSG 40.625%). Berwyndale South wells have no Origin interest. Routine development drilling.
24 Oct 2007drilling progress report▲ Good
Beach weekly report: Moomba-181 (Origin 13.19%) reached 2,699m with 15.5m net gas pay in the Toolachee and 4.5m in the Daralingie per the operator, and is being cased. Coonatie-8 (10.54%) has stuck drill pipe. A small Cooper gas addition.
17 Oct 2007drilling progress report▲ Good
Beach weekly report: Ragno-1 (Origin 13.19%) cased and suspended as a future oil producer. Coonatie-8 (10.54%) is at 2,475m and Moomba-181 is drilling. Kopuwai-1 in New Zealand has no Origin interest. Resolves Ragno-1 as a small oil success.
15 Oct 2007drilling progress report● Neutral
QGC weekly report: Argyle #16 (654m) and #24 (644m) are cased awaiting workover rigs, and Argyle #31 is being set up (Origin CSG 40.625%). Berwyndale South wells have no Origin interest. Routine development drilling.
11 Oct 2007drilling progress report● Neutral
QGC weekly report: Argyle #23 reached 664m and is suspended awaiting a workover rig; Argyle #16 is preparing for underreaming (Origin CSG 40.625%). Other wells are outside Origin's interest. Routine development drilling.
10 Oct 2007drilling progress report▲ Good
Beach weekly report: Moomba-180 and Moomba-182 (Origin 13.19%) cased and suspended as future gas and oil producers. Ragno-1 (13.19%) and Coonatie-8 (10.54%) are drilling. Small Cooper additions.
3 Oct 2007drilling progress report▲ Good
Beach weekly report: Moomba-180 and Moorari-12 (Origin 13.19%) cased as future gas producers, Moomba-182 is drilling. Callawonga-3 (no Origin interest) flowed 5,660 bopd. Small Cooper gas additions for Origin.
2 Oct 2007drilling progress report● Neutral
QGC weekly report: Argyle #28 (PL 229) reached 635m and is suspended awaiting a workover rig; Argyle #23 (PL 179) spudded 30 September (Origin CSG 40.625%). Berwyndale South wells have no Origin interest. Routine development drilling.
26 Sept 2007drilling progress report● Neutral
Beach weekly report: Big Lake-86 (Origin 13.19%) cased as a future oil producer with 4.5m oil pay, and Bronzewing-1 (13.19%) was plugged and abandoned. Moomba-180 is drilling at 2,015m. Resolves two open Cooper wells, one small oil success and one dry hole.
26 Sept 2007drilling progress report● Neutral
QGC weekly report: Argyle #35 and #34 (Origin CSG 40.625%) reached 616m and 625m and are cased awaiting workover rigs. Berwyndale South wells have no Origin interest. Routine development drilling, no new results.
19 Sept 2007drilling progress report● Neutral
Beach weekly report: Bronzewing-1 and Big Lake-86 (both Origin 13.19%) are in progress, and Moomba-180 is drilling surface hole. Callawonga-3 (no Origin interest) spudded. No new results on Origin-interest wells.
17 Sept 2007drilling progress report● Neutral
QGC weekly report: Argyle #35 (PL 179, Origin CSG 40.625%) spudded on 14 September and is drilling at 270m. This is a development well, not a reserves-certification well. Berwyndale South wells have no Origin interest. Routine.
12 Sept 2007drilling result▲ Good
Beach reports Tindilpie-6 (Origin 13.19%) cased as a potential gas producer with an estimated 15m net gas pay. Hawkins-1 (13.19%) was plugged and abandoned. Callawonga-2 (no Origin interest) flowed 4,992 bopd. A modest Cooper gas addition.
10 Sept 2007drilling progress report● Neutral
QGC weekly report: Lauren #6 reached 692m, was DST-tested for permeability, and is cased awaiting a workover rig, completing the Lauren five-spot (Origin CSG 40.625%). Berwyndale South wells have no Origin interest. No results given.
5 Sept 2007drilling progress report▲ Good
Beach reports Granchio-1 (Origin 13.19%) cased as an oil producer with 4m pay in McKinlay and 2.5m in Birkhead. Muchacho-1 (no Origin interest) was plugged and abandoned. Hawkins-1 (13.19%) is at 1,561m. Small Cooper oil addition.
3 Sept 2007drilling progress report● Neutral
QGC weekly report: Lauren #5 reached 702m and is suspended awaiting a workover rig; Lauren #6, the fifth and last well of the five-spot, is drilling at 442m (Origin CSG 40.625%). Routine, no new results.
29 Aug 2007drilling result▲ Good
Beach reports McKinlay-6 (Origin 13.19%) cased as a future oil producer, with a 15m oil column (9m net pay). Scratchy-1 (13.19%) was plugged and abandoned. This turns McKinlay-6's earlier oil shows into a success and ends Scratchy-1.
27 Aug 2007drilling progress report● Neutral
QGC weekly report: Lauren #7 reached 702m and the rig is moving to Lauren #5 (Origin CSG 40.625%). Berwyndale South wells (no Origin interest) continue. Routine, no new results.
22 Aug 2007drilling result▲ Good
Beach reports McKinlay-5 (Origin 13.19%) is a successful oil well with about 14m of oil, cased as a potential producer. Tindilpie-5 was plugged and abandoned at 3,277m. Oil shows in McKinlay-6 and Scratchy-1, both 13.19%.
20 Aug 2007drilling progress report● Neutral
QGC weekly report: Lauren #4 and #8 (Origin CSG 40.625%) are completed and awaiting workover rigs; Lauren #7 is next. Routine coal seam gas drilling, no new results.
15 Aug 2007drilling result▲ Good
Beach reports McKinlay-5 (Origin 13.19%) logged producible oil at two levels, and Carney South-1 (no Origin interest) was plugged and abandoned. Small Cooper Basin oil addition for Origin's Santos-operated interest.
13 Aug 2007drilling progress report● Neutral
QGC weekly report: Codie #6 reached 840m, the final well of the Codie five-spot (Origin CSG 40.625%). Lauren #4, first of a second five-spot, reached 682m. Routine drilling, no new results.
8 Aug 2007drilling progress report● Neutral
Beach weekly report: Jena-28 (Origin 13.19%) cased and suspended as a Murta oil producer; Tonno-1 (Origin 13.19%) plugged and abandoned at 1,569m. Tindilpie-5 gas appraisal is preparing to drill.
7 Aug 2007drilling progress report● Neutral
QGC weekly report: Codie #4, #5 and #6 (Origin CSG 40.625%) reached total depth, completing the five-spot pattern for reserves certification, and Lauren #4 spudded. Routine coal seam gas drilling, no new results.
1 Aug 2007drilling progress report▲ Good
Beach weekly Cooper Basin report: Big Lake 17DW1 (Origin 13.19%) cased as a potential gas producer with 22m gas pay in the Patchawarra and 7.5m in the Tirrawarra. Jena-28 logging; Tonno-1 drilling. Incremental Cooper news.
31 July 2007resource reserve update▲ GoodMajor
Origin lifts 2P reserves 42% to 3,471 PJe from 2,436, with coal seam gas up 1,095 PJe (80%) to 2,470 PJe. Record FY07 sales revenue of $475m; Otway Gas Project first sales expected by end of August.
25 July 2007drilling result▲ Good
Beach reports Cooper wells: Alwyn-7 (1,295m) and Calvin-1 (1,590m; DST recovered 16 bbls oil) were cased and suspended as potential oil producers, both with Origin at 13.19%. Origin has no interest in the Hurricane-2 dry-ish result.
