Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Nov 2012director officer appointment● Neutral
Bruce Morgan, retired PwC Australia chairman, joins the Origin board as an independent non-executive director and sits on the Audit, Risk and Nomination Committees. He fills the seat of retiring director Trevor Bourne (inference, as the release does not name Bourne).
8 Nov 2012investor presentation● Neutral
Origin lodges presentations for its 8-9 November operational review and APLNG site visit. They largely restate known facts, including APLNG 2P reserves of 13,111 PJe and 3P of 16,047 PJ. No new announcements are visible in the text provided.
8 Nov 2012other▼ BadMajor
Origin cuts FY2013 guidance: underlying EBITDA growth of 5-10%, down from about 10%, and underlying profit now 5-10% below FY2012 instead of flat. It cites about $40m of extra solar certificate costs it cannot pass on, and regulatory pricing uncertainty.
7 Nov 2012drilling progress report● Neutral
Beach Energy's October drilling report covers Cooper Basin oil discoveries and unconventional gas wells, plus Egypt. Origin is not named; its only listed link is its 13.19% interest in the Santos-operated Cooper JV, where Beach reports wells such as Waukatanna-5 (Beach 20.21%) cased for production.
31 Oct 2012production update● Neutral
Media release accompanying the quarterly report: 33 PJe produced and $225m revenue. APLNG is on budget, with first LNG now stated as mid-2015; upstream is 20% and downstream 23% complete. BassGas restarted 15 October after the planned shutdown.
25 Oct 2012asset acquisition disposition● Neutral
Contact Energy, 53.09% held by Origin, will sell its gas metering business to Vector for NZ$63m, subject to Commerce Commission clearance expected in about three months. Contact says this focuses it on its core business.
25 Oct 2012other● Neutral
Origin forwards Contact Energy's September 2012 operational data; Origin holds 53.09%. South Island hydro storage rose to 112% of mean (72% a month earlier) and the average Haywards price was $48/MWh. Routine data, no Origin-specific change.
22 Oct 2012annual report● Neutral
Origin lodges its 2012 Sustainability Report, sent to shareholders who elected to receive it. It closes the five-year objectives set in 2007. The visible text shows no new financial or asset news.
17 Oct 2012other● Neutral
Origin forwards Contact Energy's AGM addresses and results; Origin now holds 53.09%. The chairman repeats FY12 EBITDAF of $509m and the final 12c distribution. He now says Te Mihi should complete towards the end of this financial year.
15 Oct 2012production update▲ Good
AWE confirms BassGas free flow has restarted and compression module installation is deferred. AWE expects higher 2012-13 production and revenue and lower capex as a result. Drilling and compression are now being reviewed for summers 2013/14 and 2014/15.
15 Oct 2012production update● NeutralMajor
Origin says Yolla is back in free-flow production and BassGas is again supplying gas, after being suspended since late 2011. The compression modules will not be installed this summer; timing is to be decided by the joint venture. Resolves the July compressor failure.
12 Oct 2012debt financing● Neutral
Origin confirms the €500m seven-year notes closed, at a 2.875% coupon maturing 11 October 2019. Holders can require repurchase if a change of control is followed by a downgrade below investment grade. Completes the 3 October pricing.
11 Oct 2012drilling result▲ Good
Pancontinental gives a fuller update on Mbawa 1: 51.8 net metres of gas pay, ~24% porosity, gas interpreted as thermogenic. Size and commerciality are not yet known, and analysis continues into 2013. Origin holds 20%. Expands on the 12 September result.
5 Oct 2012debt financing▲ GoodMajor
Origin signed a $2.4bn syndicated bank loan with four- and five-year terms, maturing October 2016 and October 2017. With the €500m notes, it removes any need to refinance until the 2015 financial year.
3 Oct 2012well test result▲ Good
AWE reports Senecio-2 stabilised at 1.35 million cubic feet of gas a day over 40+ hours, up from 1 mmcfgd. Origin holds 50%. Pressure build-up testing is now underway, with gauges recovered in four to six weeks.
3 Oct 2012drilling progress report● Neutral
Beach Energy's September drilling report covers its Cooper Basin and Egypt wells. Origin is not named in the visible text; Origin holds 13.19% in the Santos-operated SACB JV with Beach. No Origin-specific result is shown.
3 Oct 2012debt financing▲ GoodMajor
Origin priced €500m (about US$646m) of seven-year notes at a 2.875% coupon, maturing October 2019. Proceeds, swapped to US dollars at 3.462%, will refinance existing debt and fund Origin's cash contribution to Australia Pacific LNG.
1 Oct 2012production update▲ Good
AWE reports Lloyd's Register has certified the Yolla A platform's accommodation, containment and safety systems. Final testing is due to start this week, weather permitting, with gas to follow once testing succeeds. Another step in BassGas's restart after the July compressor setback.
25 Sept 2012joint venture update● Neutral
Geodynamics says Origin will not join the FY2013 Habanero work program, so Geodynamics will proceed at its own risk. Origin can buy back in to keep its full 30% before year end, or be diluted. Continues the June disagreement.
24 Sept 2012other● Neutral
Origin sets the subordinated notes interest rate at 7.39% for 24 September to 23 December 2012, down from 7.53%. The payment is $1.84 per note, due 24 December unless deferred.
21 Sept 2012dividend declaration● Neutral
Contact Energy bought back and will cancel 3,096,672 bonus shares at $4.87565121 after 17.5% of holders chose cash. Quoted shares now 733,301,821. Forwarded by Origin as 52.99% holder.
21 Sept 2012other● Neutral
Origin forwards Contact Energy's shareholder letter from CEO Dennis Barnes. It repeats FY12 underlying profit of $176m and 23 cps total distribution. The plan will not be used again and Contact expects cash distributions in 2013. Te Mihi is due in 2013.
21 Sept 2012annual report● Neutral
Origin sends shareholders its 2012 annual report, shareholder review and AGM notice for 24 October 2012. The visible text repeats FY12 results already released; no new figures are shown.
21 Sept 2012dividend declaration● Neutral
Contact Energy issued 17,728,186 bonus shares at $4.87565121 for its 12 cent final distribution, taking quoted shares to 736,398,493. Forwarded by Origin as 52.99% holder. Completes the distribution announced earlier.
19 Sept 2012director officer appointment● Neutral
Director Trevor Bourne will not seek re-election and will retire from the Origin board at the 24 October 2012 AGM after 12 years. Chairman Kevin McCann remains. No successor is named in the text.
19 Sept 2012dividend declaration● Neutral
Origin sets the dividend reinvestment plan price at $11.78 per share for the 25 cent final dividend payable 27 September 2012. This follows the 23 August dividend declaration.
18 Sept 2012production update● Neutral
Origin forwards Contact Energy's August 2012 operating data: average Haywards wholesale price $66/MWh, with South Island hydro storage at 72% of mean at 31 August. Origin holds 52.99% of Contact. Routine monthly data.
18 Sept 2012annual report● Neutral
Origin forwards Contact Energy's 2012 annual report and notice of meeting; the AGM is on 17 October 2012. Contact's FY12 profit rose 27% and EBITDAF was $509m. Origin holds 52.99%. Largely repeats the August result.
14 Sept 2012contract award● Neutral
Titan Energy Services says its subsidiary won a six-month contract to supply 200 accommodation rooms in the Surat Basin to Australia Pacific LNG, worth about $6m to Titan in 2012/13. A supplier's contract, not an Origin cost figure.
12 Sept 2012drilling result▲ GoodMajor
Origin confirms Mbawa 1 reached total depth of 3,150m with about 51.8 net metres of gas pay in three zones. Origin is encouraged, with detailed analysis over coming months to guide next steps. Origin holds 20%. Confirms the Pancontinental discovery report.
