Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
