Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
8 Jan 2014drilling progress report▲ Good
Beach's December drilling report, a partner document. Marama West-1 (Origin 10%) was a gas discovery, completing a three-well Queensland program where all three wells found gas. Several SACB JV (Origin 13.19%) wells were cased as gas producers.
8 Jan 2014debt financing● Neutral
Contact Energy wrote to holders of its bonds maturing 15 May 2014 (about NZ$534m), giving advance notice of a planned NZ$225m new bond issue with an exchange option, opening February 2014. No action is needed now; repeats the 20 December notice.
23 Dec 2013other● Neutral
Origin set the interest rate on its subordinated notes at 6.62% a year for 23 December 2013 to 23 March 2014, up from 6.58%. The payment is $1.65 per note on 24 March 2014, unless deferred under the note terms.
20 Dec 2013debt financing● Neutral
Contact Energy is considering a roughly NZ$225m retail bond offer, expected to open in late February 2014. It would partly refinance about NZ$534m of bonds maturing 15 May 2014, via an exchange offer plus a general offer. Not yet launched.
20 Dec 2013debt financing● Neutral
Contact Energy closed its CEN010 retail bond buyback, with a final purchase of 3,905,000 bonds for about NZ$4.0m. This ends the buyback programme that was ongoing in Origin's context. Origin holds 53.09% of Contact.
19 Dec 2013material agreement▲ Good
Santos, for GLNG, confirmed the same Origin gas purchase: 100 PJ over five years from January 2016, oil-linked pricing, with up to 94 PJ extra. It adds to Origin's earlier 365 PJ deal. GLNG says it is over 72% complete.
19 Dec 2013material agreement▲ GoodMajor
Origin signed a second gas sales agreement with GLNG partners: at least 100 PJ at Wallumbilla over five years from 1 January 2016, with an option for up to 94 PJ more. It adds to the 365 PJ deal from May 2012, and Origin can call back some volumes.
19 Dec 2013well test result▲ Good
Santos reported Moomba-194 shale gas well flowing about 3 mmscf/d, a follow-up to Moomba-191. Origin holds 13.19% of the SACB JV, so it gains a small share of a possible Moomba North extension. Early test result only.
17 Dec 2013production update● Neutral
Contact's November data: Haywards wholesale price averaged $41/MWh, up from $38 in October. Hydro storage was 136% of mean in the South Island and 119% in the North Island. Routine operating data from the 53.09%-owned subsidiary.
9 Dec 2013agm notice● Neutral
Origin published its 23 October AGM report with the chairman's and managing director's addresses. It repeats known FY13 results: statutory profit $378m, underlying profit $760m, 50cps dividend. Cairns confirms liquidity is sufficient for APLNG commitments. No new information.
4 Dec 2013drilling progress report● Neutral
Beach Energy's November drilling report, a partner document, shows Cooper Basin activity where Origin has interests. Kaiden-1 was a gas discovery in the Queensland gas JV (Origin 16.5%), and several SACB JV (Origin 13.19%) wells were cased as gas producers. Routine drilling update.
28 Nov 2013material agreement▲ GoodMajor
Origin signed a conditional gas sales agreement to supply QGC with up to 30 PJ at Wallumbilla across 2014 and 2015 at oil-linked pricing. Origin can call back some volumes in periods of high demand. It is an additional route to market for its gas.
18 Nov 2013production update● Neutral
Contact's October data: Haywards wholesale price averaged $38/MWh, down from $62 in September. Hydro storage rose to 178% of mean in the South Island and 113% in the North Island. Routine operating data.
15 Nov 2013director officer appointment● Neutral
Maxine Brenner joined the Origin Board as an independent non-executive director and a member of the Audit and Risk committees. She is a former investment banker and lawyer. Women now make up 33% of the board. Gordon Cairns is announced as Chairman.
5 Nov 2013investor presentation● Neutral
Origin released a 39-page Asia roadshow presentation by Grant King and Karen Moses. Only the disclaimers and the FY2013 basis of figures are visible in the text provided; no new information can be identified.
4 Nov 2013regulatory community update▲ Good
Contact Energy, 53.09% owned by Origin, was granted new resource consents for its Ohaaki geothermal plant for 35 years, allowing a take of 40,000 tonnes a day of geothermal fluid. Consents were granted as sought, so the plant can keep operating.
31 Oct 2013quarterly activities report▲ Good
September quarter production was 37.5 PJe, up 17% on the June quarter and 13% on a year earlier, with sales revenue of $307m. Geographe 2 at Otway began production and BassGas availability improved. APLNG is about 50% upstream and 54% downstream complete, still on track for first LNG mid-2015.
31 Oct 2013investor presentation● Neutral
Origin released a 60-page operational review and asset visit presentation for 31 October and 1 November. Only the disclaimers and the FY2013 basis of figures are visible in the text provided; no new information can be identified.
29 Oct 2013asset acquisition disposition● NeutralMajor
Origin completed the sale of its New Zealand TAWN licences and the Waihapa production station to New Zealand Energy Corp for CDN$30m plus a 9% royalty on future production from three licences. This closes the pending TAWN sale. Ahuroa passed to Contact Energy.
25 Oct 2013material agreement▲ Good
Australia Pacific LNG and Santos GLNG signed gas swap and pipeline connection agreements in the Surat Basin. The deal avoids about 140km of extra pipelines for the two projects. It supports APLNG's efficiency as it works towards first LNG in mid-2015.
23 Oct 2013director officer appointment▲ GoodMajor
Managing Director Grant King's contract, due to expire 30 June 2014, becomes ongoing from 23 October 2013, terminable on 12 months' notice. Fixed pay is $2.5m. Terms were already disclosed in the 2013 Annual Report. Gives leadership continuity as McCann retires.
23 Oct 2013annual report● Neutral
Origin released its 2013 Sustainability Report, a summary of environmental, social and safety performance for the year to 30 June 2013. It recaps known events such as the 850 job reductions and the Geodynamics impairment. No new financial information.
23 Oct 2013agm notice● Neutral
Origin's AGM documents repeat FY13 results: statutory profit $378m, underlying profit $760m, 50cps dividend (half franked). It notes the new $7.4bn bank facility with $1.2bn of oversubscriptions, enough to fund APLNG commitments. McCann's farewell address is included.
23 Oct 2013agm notice● Neutral
Results of the 23 October 2013 AGM: all four resolutions passed. Gordon Cairns's re-election drew about 98.9% support, which clears the way for him to become Chairman, and Bruce Morgan was elected. The remuneration report passed with about 94% in favour.
22 Oct 2013production update● Neutral
Contact's September data: Haywards wholesale price averaged $62/MWh. Hydro storage recovered to 125% of mean in the South Island and 100% in the North Island, up from 109% and 69% in August. Routine operating data.
21 Oct 2013security holder rights change● Neutral
Contact Energy formally set the Capital Bonds redemption: NZ$200m principal repaid on 15 November 2013, record date 5 November, last NZDX trading day 31 October. Notices go to bondholders on 23 October. Confirms the 18 October announcement.
18 Oct 2013security holder rights change● Neutral
Contact Energy will redeem all its Capital Bonds due 2042 on 15 November 2013 at par, after S&P's new criteria cut their equity content. Funded from bank facilities and deposits. Echoes S&P's April cut to Origin's own hybrids.
15 Oct 2013agm notice● Neutral
Origin forwarded Contact Energy's AGM addresses and results. Contact says Te Mihi geothermal commissioning is well advanced and its retail system go-live remains on track for year-end. It exited the Hauāuru mā raki wind project and shelved Waitahora. FY13 EBITDAF was $541m.
14 Oct 2013other● Neutral
Origin forwarded Contact Energy's first buyback notice: 190,000 retail fixed rate bonds (CEN010) bought for $197,291 on 11 October for cancellation. Minor administrative notice; Origin holds 53.09% of Contact.
10 Oct 2013investor presentation● Neutral
Origin released a 38-page international roadshow presentation by Grant King and Karen Moses. Only the disclaimers and the FY2013 basis of figures are visible in the text provided; no new information can be identified from it.
