Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Aug 2009annual report▼ Bad
Origin's 51.42%-owned Contact Energy reported FY09 underlying profit of NZ$160.6m, down from NZ$232.8m, hit by drought, transmission limits and lost gas flexibility. The final distribution is held at 17 cents per share. This confirms the earlier profit guidance.
13 Aug 2009drilling spud● Neutral
Origin is moving a rig onto Redback South-1, a gas exploration sidetrack from the 2004 Redback-1 well, in L11 (Origin 67% operator, ARC 33%). It targets a separate fault compartment at 3,685m subsea. This is the next Perth Basin well.
13 Aug 2009drilling progress report● Neutral
AWE relayed Origin's 13 August updates on Jingemia-12 completion and the Redback South-1 rig move. Duplicate of the operator's releases.
13 Aug 2009drilling progress report● Neutral
Norwest Energy relayed Origin's 13 August Jingemia-12 completion update. Duplicate of the operator's release.
13 Aug 2009drilling result▲ Good
Jingemia-12 was cased and completed as an oil producer, and the rig was released on 9 August. It follows the 15m hydrocarbon column found on 6 August; no production rate is stated.
12 Aug 2009drilling progress report● Neutral
Beach's weekly report shows Origin's 13.19% Charo-5 appraisal at 1,870m, pulling out before logging, and its 16.74% Wackett-14 drilling ahead at 1,650m. No results for Origin yet.
11 Aug 2009contract award● Neutral
UK-listed Rheochem says it won a contract to supply drilling fluids to Origin for its North Perth Basin campaign near Dongara: two firm wells, with two more possible depending on results. Minor supplier contract; no value stated.
7 Aug 2009asset acquisition disposition▲ GoodMajor
Origin completed its purchase of 100% of Queensland coal seam gas permit ATP 788P from Pangaea for $660m, funded from existing balance sheet capacity. This closes the deal announced in May; the permit has over 1,000 PJe of expected 3P.
6 Aug 2009drilling result● Neutral
Victoria Petroleum, a 5% partner, relayed Origin's 6 August Jingemia-12 result: about 15m hydrocarbon column, cased for production. Duplicate of the operator's release.
6 Aug 2009drilling result● Neutral
AWE, a 44.141% partner, relayed Origin's 6 August Jingemia-12 result. Duplicate of the operator's release.
6 Aug 2009drilling result▲ Good
Jingemia-12 (Origin 49.189%) reached 2,709.5m and intersected about 15m of hydrocarbon column in the Dongara sandstone. It was cased and is being prepared for completion as a producer. This resolves the pending drilling result.
6 Aug 2009drilling result● Neutral
Norwest Energy, a 1.278% partner, relayed Origin's 6 August Jingemia-12 result. Duplicate of the operator's release.
5 Aug 2009drilling progress report● Neutral
Beach's weekly report says Origin's 13.19% Charo-4 oil appraisal was plugged and abandoned, and its 16.74% Wackett-15 was cased and suspended as a future Toolachee gas producer at 2,002m. One dry well and one small gas success for Origin.
31 July 2009drilling scheduled▼ Bad
Partner Innamincka reports the Kan Tan IV rig's crane was damaged in Port Geelong, delaying sail-away about a month. The T/18P two-well program (Trefoil-2 then Rockhopper-1; Origin 39% operator) now likely starts in early September, not late July.
31 July 2009resource reserve update▲ GoodMajor
Australia Pacific LNG's 2P reserves more than doubled to 7,265 PJe and 3P rose about 25% to 12,627 PJe. Origin's own 2P fell from 5,770 to 4,484 PJe, mainly due to the APLNG transaction. ATP788P (over 1,000 PJe 3P) is not yet included.
31 July 2009resource reserve update● Neutral
Annual reserves report confirms Origin's 2P reserves fell from 5,770 to 4,484 PJe at 30 June 2009, mainly from halving its Queensland CSG stake into APLNG (a 2,388 PJe dilution, partly offset by 1,266 PJe growth). Thylacine revised down 67 PJe.
30 July 2009drilling progress report● Neutral
Norwest Energy relayed Origin's 30 July Jingemia-12 update. Duplicate of the operator's release.
30 July 2009drilling progress report● Neutral
AWE relayed Origin's 30 July Jingemia-12 update. Duplicate of the operator's release.
30 July 2009drilling progress report● Neutral
Origin reports Jingemia-12 intersected the Dongara Sandstone target at 2,554.5m, close to the planned depth, and had reached 2,608m. No oil result or test is stated yet.
29 July 2009drilling progress report● Neutral
Beach's weekly report lists Origin's 13.19% Charo-4 oil appraisal as drilling at 1,820m and 16.74% Wackett-15 at 1,336m. Mostly Beach's own wells. Routine, no results for Origin.
23 July 2009drilling progress report● Neutral
AWE, which holds 44.141% of the Jingemia field, relayed Origin's 23 July Jingemia-12 update. Duplicate of the operator's release.
23 July 2009drilling progress report● Neutral
Norwest Energy, a 1.278% partner, relayed Origin's 23 July Jingemia-12 update. Duplicate of the operator's release.
23 July 2009drilling progress report● Neutral
Origin reports Jingemia-12 (Origin 49.189%) has set surface casing at 533m and was drilling ahead at 675m. The target is the Dongara Sandstone at about 2,550m. Routine progress, no result yet.
22 July 2009drilling progress report▲ Good
Beach's weekly report shows Origin's 16.74% Psyche-6 reached 2,205m and was cased and suspended as a Toolachee gas producer. Beach's own Willunga-1 was dry. Another small Cooper gas success for Origin.
20 July 2009drilling spud● Neutral
Victoria Petroleum, a 5% partner, reported that Origin spudded the Jingemia-12 development well on 18 July. It is planned to reach 2,709m in about 25 days. This is the third well of the Perth Basin campaign, after the dry Apium North-1.
16 July 2009contract award● Neutral
Carbon Conscious announced its contract with Origin to plant carbon-offset Mallee trees. Duplicate of Origin's own release of the same day; see that entry for terms.
16 July 2009material agreement● NeutralMajor
Origin signed a deal with Carbon Conscious to plant over six million Mallee trees in 2009-2011 for about $26m, with options to $169m in total if fully exercised. It manages Origin's carbon scheme (CPRS) liability; if the scheme is delayed, credits go to voluntary offsets.
15 July 2009other● Neutral
Origin forwarded Contact Energy's notice: annual results on 14 August 2009, final distribution record date 28 August (subject to board approval), and AGM on 22 October. Origin holds 51.42% of Contact. Administrative; no new financial figures.
15 July 2009drilling progress report▲ Good
Beach's weekly report shows Origin's 13.19% Cowralli-11 reached 3,235m and is being cased and suspended as a Patchawarra gas producer. Origin's 16.74% Psyche-6 is drilling at 2,094m. Routine; Cowralli-11 is another Cooper gas success.
13 July 2009farm in farm out agreement● Neutral
Innamincka Petroleum is farming into Bass Strait permit T/18P for a 5% interest, via CalEnergy's farmdown from 18.5% to 8.5%. Origin stays operator at 39.0%. A two-well program (Trefoil-2, Rockhopper-1) is due to start late July 2009; A$82m cost.
