Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 July 2010regulatory community update▲ GoodMajor
Origin welcomed the Federal Government's decision to apply the existing Petroleum Resource Rent Tax to onshore oil and gas instead of the proposed RSPT, saying it gives more certainty. Starting asset value would use market value. Details still to be finalised.
2 July 2010production update▲ GoodMajor
Origin completed final commissioning of the 630MW Darling Downs gas power station in Queensland, an investment of over $1 billion. Origin starts booking revenue and earnings from 1 July 2010. It also bought an adjacent 77-hectare block for possible expansion.
1 July 2010drilling spud● Neutral
Salamander spudded Tom Hum Xanh-1X in Block 31 offshore southern Vietnam, part of the December 2009 farm-in where Origin earns 25%. Target depth is about 2,500m; mean gross pre-drill estimate is c. 80 million barrels of oil; about 32 days expected.
1 July 2010director officer appointment● Neutral
Contact Energy director John Milne retired from its Board effective 30 June 2010; he served since 1995 and chaired the Audit Committee. Origin's Grant King is Contact's Chairman. No replacement was named.
1 July 2010drilling progress report● Neutral
Redback 2 (Origin 67%, operator) had 7" casing set at 3,861m and a 4½" liner was to be run across the Wagina reservoir to 3,966m TD. Hole was being cleaned out. No new gas result or volume.
1 July 2010drilling progress report● Neutral
AWE's release repeats Origin's: Redback-2 has 7" casing set at 3,861m, with a 4½" liner to run to 3,966m TD. Origin holds 67%; Wolf-1 follows. Nothing new.
30 June 2010regulatory community update● Neutral
Contact Energy (Origin 51.80% of quoted shares) said its emissions trading scheme pricing will lift average residential electricity prices 3.2%, in line with the Government's 5% estimate. Managing Director David Baldwin rejected suggestions Contact was using the scheme to inflate prices.
29 June 2010drilling result▼ BadMajor
Tom Su Lua-1X in Vietnam's Block DBSCL-01 (Origin earning 25%) was plugged and abandoned as a dry hole. It found good reservoir sandstones and seals, but they were water-bearing. Rig moves to Block 31 for the Tom Hum Xanh-1X well (Origin 25%).
24 June 2010drilling result● NeutralMajor
Redback 2 (Origin 67%) reached 3,966m, but pressure data could not be acquired from the Wagina reservoir because of hole conditions. The well is being cased and suspended for later completion and tie-in to Beharra Springs, allowing further assessment of the accumulation's size.
23 June 2010drilling progress report▲ Good
Beach Energy's weekly report shows Coonatie-17 (Origin 10.54%) reached 3,105m TD and is being cased and suspended as a future Permian gas producer. Coonatie-16 is drilling at 2,524m. Beach is moving to monthly drilling reports.
17 June 2010other● Neutral
Contact Energy (Origin 51.80% of quoted shares) May 2010 operating data: North Island storage rose to 60% of mean from 49%, and the average Haywards price was $49/MWh. The forecast June wholesale price fell to $50/MWh from $72/MWh at 30 April. Routine data release.
17 June 2010drilling progress report● Neutral
AWE's update repeats Origin's: Redback-2 running wireline logs at 3,966m after recovering the logging tool, 55m progress in the week. Wolf-1 still to follow. Nothing new.
17 June 2010drilling progress report● Neutral
Redback 2 reached total depth of 3,966m on 16 June after an unsuccessful wireline attempt due to difficult hole conditions. Wireline logs were being acquired on 17 June. No volumes or flow results yet.
10 June 2010drilling spud● Neutral
Salamander spudded Tom Su Lua-1X in Block DBSCL-01 offshore southern Vietnam, part of the December 2009 farm-in where Origin earns 25%. Target depth is about 1,400m; mean gross pre-drill estimate is c. 60 million barrels of oil.
10 June 2010drilling progress report● Neutral
Redback 2 (Origin 67%) hit Wagina at 3,861m (3,664m sub-sea), but wireline logging was impeded by difficult hole conditions. Rig repairs were underway at 3,913m, 6m progress in the week. Gas result not yet confirmed.
3 June 2010drilling result▲ GoodMajor
AWE reports Redback-2 intersected the Wagina reservoir at 3,861m: about 14m thick and gas charged on initial log analysis. AWE calls it encouraging but says it is too early to comment on size or commercial significance. Origin holds 67%.
27 May 2010drilling progress report● Neutral
AWE's update repeats Origin's: Redback-2 coring in the Kockatea Shale at 3,808m, 199m progress in the week. Nothing new.
27 May 2010drilling progress report● Neutral
Redback 2 (Origin 67%, operator) was coring the basal Kockatea Shale at 3,808m on 27 May, above the Wagina target. Progress was 199m in the week. No results yet.
26 May 2010regulatory community update● Neutral
Australia Pacific LNG (50:50 with ConocoPhillips) opened its Gladstone project centre, with Queensland's Premier attending. ConocoPhillips' president said it looks forward to working with the Federal Government on the RSPT. No new project decisions.
25 May 2010regulatory community update▲ Good
Contact Energy (Origin 51.80% of quoted shares) completed its $100m, 23MW Tauhara One geothermal plant three weeks early and under budget. Stratford peaker construction is due to finish end of May, with testing complete by October; Ahuroa phase one on track for end-2010.
20 May 2010drilling progress report● Neutral
Redback 2 (Origin 67%, operator) was drilling at 3,609m on 20 May, 550m progress in the week. Target Wagina reservoir is 3,715m sub-sea. No results yet.
20 May 2010drilling progress report● Neutral
AWE's update repeats Origin's: Redback-2 drilling at 3,609m, 550m progress in the week. Wolf-1 still to follow. Nothing new.
18 May 2010investor presentation● Neutral
Grant King presented to the APPEA Conference in Brisbane on the role of natural gas in meeting future energy needs. The visible text covers Australian gas demand and climate policy background; no new announcements are visible.
13 May 2010drilling progress report● Neutral
AWE's update repeats Origin's: Redback-2 drilling at 3,059m, 761m progress in the week. Wolf-1 remains the next well. Nothing new.
13 May 2010other● Neutral
Contact Energy (Origin 51.80% of quoted shares) April 2010 operating data: average national wholesale price $79.29/MWh versus $39.12 a year earlier. North Island storage fell to 49% of mean; the energy hedge price dropped to $66/MWh from $123/MWh. Routine data release.
13 May 2010drilling progress report● Neutral
Redback 2 (Origin 67%, operator) had reached 3,059m on 13 May, with 9 5/8-inch casing at 2,049m. Target is 3,715m sub-sea. No results yet.
6 May 2010drilling result● Neutral
Salamander reported Bang Nouan-1 (Laos, Origin 30%) reached 3,400m. Up to 25m of potential gas pay was seen in the secondary Kuchinarai sandstone; the main Pha Nok Khao target zones were water-bearing. The well is suspended ahead of a test.
6 May 2010drilling progress report● Neutral
Redback 2 (Origin 67%, operator) had 9 5/8-inch casing set at 2,049m and was drilling at 2,298m on 6 May. Target is 3,715m sub-sea. No results yet.
6 May 2010drilling progress report● Neutral
AWE's update repeats Origin's: Redback-2 drilling at 2,298m after casing at 2,049m, 288m progress in the week. Wolf-1 remains the next well. Nothing new.
5 May 2010investor presentation● Neutral
Grant King presented to the Macquarie Connections conference under the 'decade of growth' theme. The visible text covers climate policy and funding capacity; it shows no new announcements.
