Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
12 Sept 2012drilling result● Neutral
Pancontinental says Mbawa-1 reached final depth of 3,151m. The primary target holds about 52m of net gas pay, but the deeper secondary target had no hydrocarbons at this location. The well will be plugged after logging, and partners will plan next exploration.
10 Sept 2012drilling result▲ GoodMajor
Pancontinental reports Mbawa 1 found about 52 net metres of natural gas pay, the first substantive hydrocarbon discovery offshore Kenya. Drilling continues toward 3,275m. Resolves the 3 September mud gas readings. Origin holds 20% of the L8 block.
10 Sept 2012drilling result● Neutral
Geodynamics says the Habanero 4 completion has been run and the rig released on 8 September. Testing and stimulation follow, with milestone updates to resume. Origin holds 30%; this ends the drilling phase flagged on 23 August.
5 Sept 2012drilling progress report● Neutral
Beach Energy's August drilling report covers Cooper Basin wells, including a Bauer oil field extension. It contained no Origin-specific result, and the 20.21% stakes in the Santos-operated Big Lake-93 and Kanowana-8 wells were Beach's.
5 Sept 2012dividend declaration● Neutral
Contact Energy sets its bonus share price at $4.88 (strike price $4.87565121) for the 12 cent distribution, a ratio of about 0.0246 bonus shares per share held. Forwarded by Origin as 52.99% holder. Buy-back acceptances close 14 September.
3 Sept 2012drilling progress report● Neutral
Pancontinental says Mbawa 1 reached 2,553m with elevated mud gas readings seen in the section drilled. Logs are being run, and the significance is not yet known. Planned total depth is 3,275m. Origin holds 20% of the block.
31 Aug 2012flow test result▲ Good
AWE reports Senecio-2 flows have risen to about 1 million cubic feet a day after clean-up, and pressure tests are planned next. Origin holds 50% of this well. This builds on the 23 August report of about 0.5 million. Other wells are not Origin's.
30 Aug 2012dividend declaration● Neutral
Contact Energy's 12 cents per share final distribution will be paid on 21 September 2012 as bonus shares, with an option to sell them back for cash. Forwarded by Origin as 52.99% holder. This follows the 14 August result.
28 Aug 2012material agreement termination● Neutral
Carbon Conscious says Origin will not exercise its 2013 planting options, ending contracted plantings at this time. It manages about 14,000 hectares of carbon forest for Origin, expected to sequester over 2.3 million tonnes of CO2e over 15 years.
27 Aug 2012drilling progress report● Neutral
Pancontinental reports Mbawa 1 offshore Kenya has reached 2,006m and a second casing string is being set. The main targets lie deeper, with planned total depth 3,275m. Operations are on plan, with about 60 days in total. Origin holds 20%.
23 Aug 2012annual report▲ Good
Origin's FY12 results filing: statutory profit $980m (up from $186m), revenue $12,935m, final dividend 25 cents. Cover pages for the Appendix 4E, financial statements and directors' report; the headline story is in the media release.
23 Aug 2012admin correction● Neutral
Origin corrects its final dividend record date to 3 September 2012 from 31 August, as the listing rules require; the ex-date moves to 28 August. The 27 September payment date is unchanged.
23 Aug 2012investor presentation● Neutral
Analyst presentation accompanying the FY12 result, delivered by Grant King and Karen Moses. The visible text is only the disclaimer and notices; no new figures are shown beyond the result already released.
23 Aug 2012regulatory community update▼ Bad
The competition regulator has started Federal Court proceedings against Origin's wholly owned subsidiary Speed-E-Gas and Supagas NSW. It alleges a 2006-2011 cartel not to supply forklift LPG to each other's Sydney customers. Penalties are sought; a directions hearing is on 20 September 2012.
23 Aug 2012drilling result▲ Good
Geodynamics says Habanero 4 reached its target depth of 4,204m, deeper than the 4,071m reported on 17 August. Drilling indications suggest the target fracture zone was intersected as expected. Logging, cement checks and completion come next. Origin holds 30%.
23 Aug 2012flow test result▲ Good
AWE reports Senecio-2 in the Perth Basin was stimulated, with gas flowing at about 0.5 million cubic feet a day during clean-up. Origin holds 50% of this well. Other wells in the program are AWE's or Norwest's, not Origin's.
23 Aug 2012annual report▲ GoodMajor
Origin reports FY12 statutory profit of $980m versus $186m, with underlying profit up 33% to $893m. Full-year dividend steady at 50 cents. Remaining APLNG funding is about $3.6bn, covered by $4.2bn of cash and undrawn facilities. The statutory jump includes a gain on the APLNG dilution.
23 Aug 2012other▲ Good
Origin reports its subordinated notes ratios at 30 June 2012: interest cover 5.7 times against a 3.5 minimum, and leverage 1.9 times against a 4.0 maximum. No mandatory deferral event exists, so the notes' interest payments are not at risk on these tests.
21 Aug 2012other▲ GoodMajor
Origin's 550 MW Mortlake gas-fired peaking power station in Victoria is fully commissioned after its second unit finished, at a cost of $810m excluding capitalised interest. Origin now records its revenue and earnings; owned and contracted capacity reaches 5,900 MW.
21 Aug 2012production update● Neutral
Contact Energy's July 2012 data: Haywards price averaged $80/MWh, South Island hydro storage 88% of mean and North Island 99%. Routine monthly report forwarded by Origin as 52.99% holder.
17 Aug 2012flow test result▲ Good
Beach reports the Santos-operated Moomba-191 unconventional gas well flowed at a stable 2.6 MMscfd, peaking at 3.0 MMscfd. Origin holds 13.19% of the South Australian Cooper Basin JV that drilled it.
17 Aug 2012drilling progress report▲ Good
Geodynamics says the extra cementing at Habanero 4 succeeded and pressure testing shows enough integrity to continue. The well is drilling the final section at 4,071m. This follows the 10 August delay report; Origin holds 30%.
14 Aug 2012half year report▲ Good
Contact Energy, 52.99% owned by Origin, reports FY12 profit of $190m, up 27%, with EBITDAF up 15% to $509m. Final distribution is 12 cents per share, 23 cents for the year. Forwarded by Origin as majority holder.
13 Aug 2012drilling spud● NeutralMajor
Mbawa 1 exploration well offshore Kenya spudded on 10 August 2012, operated by Apache. It targets 3,250m in 864m of water, taking about 60 days. Origin holds 20% of block L-8 and will report again when results are in.
10 Aug 2012joint venture update▼ BadMajor
Geodynamics says Habanero 4 is about 22 days late and the cost now estimated at about $50m versus a $48.5m cap. Origin, holding 30%, will not contribute further to well costs but can rejoin. This resolves the work-program dispute, with Origin stepping back.
1 Aug 2012drilling progress report● Neutral
Amended version of Beach's July drilling report. The only change visible is that Halifax-1 is now expected to spud on 2 August rather than having spudded 1 August. Not Origin's own news.
1 Aug 2012drilling progress report● Neutral
Beach Energy's July drilling report. Origin is a 13.19% partner in the Santos-operated South Australian Cooper Basin JV, which drilled Big Lake-92 and Kanowana-8 wells. Other results (Mustang-1, Bauer-5) are Beach's, not Origin's, from the text.
31 July 2012resource reserve update● Neutral
Media release on the annual reserves and June quarter: 2P reserves 6,807 PJe, up 9% before APLNG dilution. FY12 production 130 PJe (down 4%), revenue up 3% to $856m. Repeats the reserves report and quarterly figures already lodged on 31 July.
31 July 2012resource reserve update● NeutralMajor
Origin's 2P reserves at 30 June 2012 were 6,807 PJe, down 234 PJe because of the APLNG dilution from 50% to 42.5%; excluding that, up 648 PJe (9%). Sinopec's completed purchase cuts APLNG-related reserves a further 656 PJe to 4,917 PJe.
25 July 2012production update● Neutral
Contact Energy's June 2012 data: Haywards averaged $115/MWh, South Island hydro storage rose to 81% of mean and North Island 104%. Q3 futures fell to $85/MWh by 20 July. Routine monthly report from Origin's 52.99% subsidiary.
