Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Sept 2009drilling result▲ GoodMajor
Redback South 1 (Origin 67%, AWE 33%) found gas in the uppermost Wagina Sandstone, reaching 3,934m total depth. Gas is similar to the nearby Beharra Springs field; commercial significance depends on flow testing.
22 Sept 2009annual report● Neutral
Contact Energy (Origin 51.42%) said 72% of final-distribution bonus shares were retained and 28% bought back at NZ$6.1998719, keeping about NZ$71m of cash; the plan retained NZ$120m for FY09. Its annual report is out; AGM 22 October.
21 Sept 2009drilling scheduled● Neutral
AWE (47.5% in T/18P) said Trefoil-2 should start by the end of the week. Kan Tan IV then moves to a 4-5 well Taranaki program; AWE plans about $175m of spending over roughly nine months.
21 Sept 2009investor presentation● Neutral
Karen Moses presented to the CLSA Investors' Forum in Hong Kong. It is a 77-page presentation covering strategy, Australia Pacific LNG, carbon and the business units; the visible text shows no new figures.
21 Sept 2009drilling scheduled● Neutral
Innamincka (5% in T/18P) relayed Origin's announcement that Kan Tan IV is operational and Trefoil-2 is likely to spud later this week. Duplicate of the operator's release.
21 Sept 2009drilling scheduled● Neutral
The Kan Tan IV rig is ready to start the Bass Basin T/18P program (Origin 39.0% operator). Trefoil 2 will appraise the Trefoil gas field found in 2004, followed by exploration well Rockhopper 1.
18 Sept 2009other▼ Bad
Contact Energy's August 2009 data, relayed by Origin (51.42% holder): average national wholesale price $20.77/MWh versus $107.29 a year earlier, with generation of 960 GWh. Prices remain far lower than last year.
17 Sept 2009drilling progress report● Neutral
Redback South 1 intersected the Wagina Sandstone target at 3,878.5m and was drilling ahead at 3,902m. The full result awaits logging at planned total depth of about 3,980m; no commercial result yet.
17 Sept 2009drilling progress report● Neutral
AWE relayed Origin's 17 September Redback South 1 update (Wagina Sandstone intersected at 3,878.5m). Duplicate of the operator's release.
16 Sept 2009drilling progress report▲ Good
Beach's weekly report shows Origin's Charo-7 (13.19%) at 1,880m TD, cased and suspended as a future Birkhead and Hutton oil producer. Okotoko West-2 (16.74%) is cased and suspended as a future gas producer, resolving the earlier pending logging.
15 Sept 2009dividend declaration● Neutral
Origin set the dividend reinvestment plan price at $15.04 per share, the 10-day average after the 31 August record date, with no discount. This applies to the 25c fully franked final dividend payable 23 September 2009.
10 Sept 2009drilling progress report● Neutral
Redback South 1 was drilling ahead at 3,633m on 10 September, with 7-inch casing set at 3,136.5m on 1 September. It is approaching the 3,685m subsea target; no result yet.
10 Sept 2009drilling progress report● Neutral
AWE relayed Origin's 10 September Redback South 1 update (Origin 67%, AWE 33%): drilling ahead at 3,633m. Duplicate of the operator's earlier release; no result yet.
9 Sept 2009drilling progress report● Neutral
Beach's weekly report shows Origin's Charo-7 (13.19%) at 1,880m TD, running a wiper trip before logging. Okotoko West-2 (16.74%) is at 2,465m TD, pulling out to log. No results yet.
9 Sept 2009debt financing▼ Bad
Fitch downgraded Contact Energy (Origin 51.42%) to BBB from BBB+, outlook stable, citing heavy capital spending and higher debt. This brings it into line with S&P's BBB. Contact's net debt ratio is 27%; Tauhara, Stratford and Ahuroa are due mid-2010.
7 Sept 2009dividend declaration● Neutral
Contact Energy set the strike price for its final 17c distribution bonus shares at NZ$6.1998719, with no discount. That gives 0.02741992 bonus shares per share held, about one for every 36.47. Origin holds 51.42% of Contact.
3 Sept 2009drilling progress report● Neutral
Redback South 1 set 7-inch casing to 3,136.5m and was preparing to drill ahead toward the 3,685m subsea target. No result yet.
3 Sept 2009drilling progress report● Neutral
AWE relayed Origin's 3 September Redback South 1 update. Duplicate of the operator's release.
3 Sept 2009drilling progress report● Neutral
Beach's weekly report shows Origin's Wackett-16 (16.74%) plugged and abandoned at 1,996m. Charo-6 (13.19%) was cased and suspended as a future Birkhead oil producer, with the rig moving to Charo-7, and Okotoko West-2 (16.74%) was drilling surface hole at 410m.
27 Aug 2009drilling progress report● Neutral
AWE (33% partner via ARC) relayed Origin's 27 August Redback South 1 update. Duplicate of the operator's release.
27 Aug 2009drilling progress report● Neutral
Redback South 1 began drilling the sidetrack on 25 August at 2,007m and had reached 2,438m by 27 August. Target is 3,685m subsea; no result yet.
26 Aug 2009drilling progress report● Neutral
Beach's weekly report shows Origin's 13.19% Charo-6 at 1,871m running a wiper trip before logging, and Wackett-16 (16.74%) at 1,996m pulling out to log. No results for Origin yet.
24 Aug 2009other● Neutral
Contact Energy's July 2009 market data, relayed by Origin (51.42% holder): average national wholesale price $59.14/MWh versus $145.47 a year earlier, with generation of 946 GWh. Lower prices follow the weak FY09 result.
20 Aug 2009drilling progress report● Neutral
Rig 826 is on location at Redback South 1 (Origin 67%, ARC 33%), cleaning the Redback 1 wellbore ahead of sidetracking below casing at 1,980m. Target remains 3,685m subsea. No result yet.
19 Aug 2009investor presentation● Neutral
Media version of the FY09 results presentation, repeating the same figures: underlying profit $530m (up 20%), statutory profit $6,941m, final dividend 25c. No new information is visible in the text provided.
19 Aug 2009annual report▲ Good
Origin's FY09 media release: underlying profit $530m (up 20%), statutory profit $6.9bn including a $6.7bn gain from ConocoPhillips' APLNG investment. Final dividend 25c fully franked, payable 23 September to holders on record 31 August. No net debt; cash and undrawn facilities $5.3bn.
19 Aug 2009drilling progress report▲ Good
Beach's weekly report shows Origin's 13.19% Charo-5 cased and suspended as a future Birkhead oil producer at 1,870m, and Wackett-14 (16.74%) cased and suspended as a Toolachee gas producer at 1,977m. Both Cooper Basin wells are completed as producers.
19 Aug 2009annual report▲ GoodMajor
Origin's FY09 results filing: underlying profit $530m (up 20%), statutory profit $6,941m (boosted by the APLNG transaction), revenue $8,042m (down 3%), EBITDAF $1,219m (down 8%). Final dividend 25c fully franked. Origin reports no net debt.
19 Aug 2009investor presentation● Neutral
Analyst presentation for the FY09 results, repeating the headline figures: underlying profit $530m (up 20%), statutory profit $6,941m, final dividend 25c, and $5.3bn of cash and undrawn facilities. Text is truncated; no new information is visible.
18 Aug 2009regulatory community update▲ GoodMajor
Australia Pacific LNG secured the 230-hectare Laird Point site on Curtis Island, Gladstone, for its LNG plant. A KPMG analysis projects an average 10,300 jobs during construction. Final investment decision stays targeted for end 2010, first train by end 2014.
