Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
4 July 2012investor presentation▲ GoodMajor
Origin MD Grant King presents the Australia Pacific LNG Train 2 final investment decision (FID2) to investors. The readable text covers only disclaimers, and notes Origin's APLNG stake is expected to dilute from 42.5% to 37.5%. This resolves the pending Train 2 decision; no other figures are readable.
4 July 2012drilling progress report● Neutral
Beach's June report on Cooper Basin and Egypt wells. Origin is not mentioned, so there is no direct bearing on Origin. Routine monthly drilling report from another company, forwarded or filed under Origin's name.
2 July 2012other● Neutral
Contact Energy will release its FY12 results before market open on 14 August 2012. Administrative date notice only, forwarded by Origin as Contact's 52.99% shareholder.
29 June 2012material agreement▲ Good
APLNG signed a binding 20-year sale agreement with Kansai Electric for about 1 mtpa of LNG, deliveries from 2016. It converts the earlier Heads of Agreement and remains conditional on the Train 2 final investment decision, still targeted for mid-2012.
29 June 2012admin correction● Neutral
Origin corrected the record and ex-dates for its subordinated notes interest payment to 14 and 10 September 2012. The rate of 7.53% and the $1.94 payment are unchanged.
27 June 2012resource reserve update▲ Good
NZOG says Origin, as Kupe operator, has given preliminary results of a reserves review suggesting Kupe's remaining reserves may need to be increased further. A figure is not given; partners aim to agree a position by mid July. Origin holds 50%.
22 June 2012security holder rights change● Neutral
Origin set the interest rate on its subordinated notes at 7.53% for 22 June to 23 September 2012, down from the previous 8.44%. The payment of $1.94 per note is due 24 September.
21 June 2012drilling progress report● Neutral
Geodynamics reports Habanero 4 at 3,883m, up 313m, in line with expected slower rates in the Merrimelia and granite formations. Origin holds 30%. Routine progress.
19 June 2012production update● Neutral
Contact Energy's May 2012 data: Haywards averaged $130/MWh, South Island hydro storage 72% of mean and North Island 116%. Continues the low South Island hydro theme from April's data. Routine monthly report from Origin's 52.99% subsidiary.
19 June 2012investor presentation● Neutral
Origin's 147-page Analyst Workshop presentation, delivered by Karen Moses and the management team. Only the legal disclaimers and definitions are readable here, so no new results or figures can be reported.
15 June 2012admin correction● Neutral
Origin restated its FY2011 segment EBITDA and EBIT under the new segments introduced at its February 2012 interim result. The release says there is no change to reported group profit for prior periods.
15 June 2012investor presentation● Neutral
Origin presentation at the UBS Utilities Conference restates its positioning: largest Australian retailer and generator portfolio, first APLNG train sanctioned, second train decision pending, binding LNG contracts for 8.6 mtpa. No new figures are evident in the readable text.
8 June 2012joint venture update▼ Bad
Geodynamics says Origin did not approve the proposed work program following Habanero 4 at the 4 June Operating Committee meeting. Discussions continue to agree a forward program. Origin holds 30% of the Innamincka Deeps JV; the reason for non-approval is not stated.
8 June 2012debt financing▲ Good
China EXIM signed final definitive documents for its US$2.759bn, 16-year share of APLNG's US$8.5bn project finance facility. This resolves the earlier commitment-letter status. The facility remains conditional on the Train 2 final investment decision.
6 June 2012drilling progress report● Neutral
Geodynamics reports Habanero 4 at 3,570m, up 200m, with drilling slowing in hard Patchawarra and Tirrawarra formations but in line with plan. Origin holds 30% of the Innamincka Deeps JV. Routine progress.
6 June 2012drilling progress report● Neutral
Beach Energy's May drilling report covers Cooper Basin wells in which Origin is not named as a participant. It is not specific to Origin and adds nothing to its story. Likely a mis-filed or unrelated item; no Origin-specific impact is stated.
1 June 2012director officer appointment● Neutral
Contact Energy appointed its Chief Operating Officer, Graham Cockroft, as Chief Financial Officer from 2 July 2012. Peter Kane and James Kilty, both general managers, also joined its executive Leadership Team from that date.
1 June 2012regulatory community update▼ Bad
Origin will contest the Queensland Competition Authority's 2012-13 regulated retail electricity price decision, saying it understates wholesale costs. Origin says it restricts recovery of about $60m. The outcome of the challenge is not yet known.
1 June 2012other● Neutral
Contact Energy says Origin's TAWN sale does not affect its Ahuroa gas storage facility, which the sale excludes and Contact keeps. A clarification of the 31 May sale; no new figures.
31 May 2012asset acquisition disposition● NeutralMajor
Origin agreed to sell its Tariki, Ahuroa, Waihapa and Ngaere fields in New Zealand to NZ Energy Corp for about CDN$42m plus a 5% gross overriding royalty. Completion is expected October 2012, subject to conditions including NZ government approvals.
30 May 2012asset acquisition disposition▼ BadMajor
Transform Solar, Origin's 50:50 JV with Micron, will stop making SLIVER solar modules in Idaho, citing global oversupply. Origin is reviewing its 50% carrying value, $134m at 31 Dec 2011, with any decision disclosed on 23 August 2012. A possible write-down.
29 May 2012drilling spud▲ Good
Drilling of Geographe 2, the first of two development wells for the Geographe gas field in the Otway Basin, began on 29 May 2012. The field was approved in October 2011 and will connect to the Thylacine platform. Origin holds 67.23% as operator.
24 May 2012drilling progress report● Neutral
Geodynamics reports Habanero 4 in the Innamincka Deeps JV at 3,370m, having drilled 551m since the last report. Origin holds 30%. Routine progress with no new result.
24 May 2012debt financing▲ GoodMajor
Australia Pacific LNG signed a US$8.5bn project finance facility with banks, US EXIM and China EXIM (China EXIM on a commitment letter), maturing 2028-29. It is conditional on the Train 2 FID, still expected by mid-2012. Origin and the other shareholders each guarantee their share during construction.
24 May 2012material agreement▲ Good
Contact Energy confirms it will receive its full Maui gas entitlement of 24.65 PJ for calendar 2014, the final year of the existing contract. This resolves the contingent supply question flagged at its interim results.
24 May 2012debt financing▲ Good
APLNG's own release of the US$8.5bn project finance facility, repeating Origin's announcement. It adds that APLNG ownership of Origin 37.5%, ConocoPhillips 37.5% and Sinopec 25% depends on the Train 2 FID and Chinese and FIRB approvals. No new information.
21 May 2012production update● Neutral
Contact Energy's April 2012 operating data: South Island hydro storage 69% of mean, North Island 128%. Haywards averaged $82/MWh in April but $124/MWh for 1-16 May. Continues the low South Island hydro theme; routine monthly data.
17 May 2012annual report● Neutral
Origin's 2011 Sustainability Report, its 10th, is lodged for shareholders who chose to receive it. It covers the 12 months to 30 June 2011 and sets no forward targets. The visible text contains no new financial or operating information.
15 May 2012director officer appointment● Neutral
Contact Energy's CFO Mark Elliott will resign on 30 June 2012 to become Origin's General Manager Commercial, Energy Markets, from 2 July 2012. This is a senior staff move from Origin's 52.99%-owned subsidiary to the parent.
14 May 2012drilling result▼ BadMajor
Thistle 1, the Otway Basin exploration well spudded 19 April, reached 2,265mRT (short of the planned 2,559mRT) with no shows in the target Waarre Sandstones. Plug and abandonment is being planned. This is a dry hole; Origin holds 67.23% as operator.
