8 Oct 2009drilling progress report● Neutral
Innamincka relayed Origin's 8 October update: Trefoil 2 at 153m after setting the 30-inch conductor, preparing to drill ahead. Top objective still about 23 days away. Duplicate of the operator's release.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Oct 2009drilling progress report● Neutral
Trefoil 2 was at 153m on 8 October after setting the 30-inch conductor, preparing to drill ahead. The top objective is still expected in about 23 days; no results yet.
8 Oct 2009drilling progress report● Neutral
AWE (47.5% partner) relayed that Trefoil-2 was at 153m on 8 October after setting the conductor. Rockhopper-1 follows. Duplicate of the operator's release.
7 Oct 2009other● Neutral
Beach Petroleum's weekly drilling report mentions Origin only as a partner (13.19% to 16.74%) in Santos-operated Cooper Basin wells Bobs Well-2, Wareena-5 and Moomba-183, all drilling. No new Origin-specific result.
6 Oct 2009drilling spud● Neutral
AWE (47.5% in T/18P) reported Trefoil-2 started drilling on 6 October, about 2.6km south of the Trefoil-1 discovery, to roughly 3,220m. Rockhopper-1 follows. Duplicate of the operator's release.
6 Oct 2009drilling spud● Neutral
Trefoil 2 started drilling at 08:00 on 6 October, appraising the Trefoil gas field found in 2004 (Origin 39.0% operator). Planned depth is 3,221m, with the top objective expected in about 23 days; Rockhopper 1 follows.
6 Oct 2009drilling spud● Neutral
Innamincka (5% in T/18P) relayed that Trefoil 2 began drilling on 6 October, targeting about 3,220m. Rockhopper-1, about 12km north, follows. Duplicate of the operator's release.
6 Oct 2009investor presentation● Neutral
Karen Moses presented to J.P. Morgan Australian Corporate Access Days in New York and Edinburgh. It is a 76-page deck covering strategy, Australia Pacific LNG, carbon and the business units; the visible text shows no new figures.
2 Oct 2009drilling result● Neutral
AWE (33% partner) relayed Origin's update that Redback South 1 was cased and suspended at 3,955 mMD, with flow testing expected in the December quarter. Duplicate of the operator's release.
2 Oct 2009drilling result● Neutral
Redback South 1 reached 3,955 mMD and was cased and suspended; the rig was released 28 September. Gas in the uppermost Wagina Sandstone stands; flow testing to judge commercial significance is expected in the December quarter (Origin 67%, AWE 33%).
1 Oct 2009drilling scheduled● Neutral
Origin's weekly T/18P update repeats that Kan Tan IV is still in Port Phillip Bay waiting on weather before moving to Trefoil 2. The spud has slipped past the end of last week.
1 Oct 2009drilling scheduled● Neutral
AWE relayed Origin's 1 October update that Kan Tan IV is still waiting on weather before moving to Trefoil 2. Duplicate of the operator's release.
1 Oct 2009drilling scheduled● Neutral
Innamincka relayed Origin's 1 October update that Kan Tan IV is still waiting on weather before moving to Trefoil 2. Duplicate of the operator's release.
1 Oct 2009other● Neutral
Beach Petroleum's weekly drilling report mentions Origin only as a 13.19% partner in Santos-operated Bobs Well-2 and 16.74% in Surlow-2. Surlow-2 reached 2,418m TD and was cased as a future gas producer. Nothing new for Origin itself.
28 Sept 2009farm in farm out agreement▲ GoodMajor
Origin agreed to farm into Eden Energy's Cooper Basin geothermal licence GEL 185 in South Australia, paying $1m cash and the first $500,000 of spending to earn 70% and operate. It sits beside Geodynamics' licences; subject to SA Government approval.
24 Sept 2009drilling scheduled● Neutral
Innamincka (5% in T/18P) relayed Origin's weekly update that Kan Tan IV is waiting on weather before moving to Trefoil 2. Duplicate of the operator's release.
24 Sept 2009investor presentation● Neutral
Contact Energy (Origin holds 51.66% of its quoted shares) presented to a Craigs investor day. It cited net debt $1.1bn (27% gearing), the 200MW Stratford peaker in operation mid-2010, and $120m retained in FY09. Largely repeats known facts.
24 Sept 2009drilling scheduled● Neutral
Origin said the Kan Tan IV rig is in Port Phillip Bay waiting on weather before moving to the Trefoil 2 location in T/18P (Origin 39.0% operator). The spud expected this week has not yet happened.
24 Sept 2009drilling scheduled● Neutral
AWE (47.5% in T/18P) relayed Origin's update that Kan Tan IV is waiting on weather in Port Phillip Bay. Duplicate of the operator's release.
23 Sept 2009contract award● Neutral
ISS Group said Origin's Kupe subsidiary chose it to supply a gas nominations and liquids trucking system for the Kupe facility, worth about A$615,000. Kupe is being prepared for commissioning before end-2009.
23 Sept 2009other● Neutral
Beach Petroleum's weekly drilling report mentions Origin only as a 13.19% partner in Santos-operated Cooper Basin wells; Bobs Well-2 is preparing to spud. No new Origin-specific result.
23 Sept 2009annual report● Neutral
Origin sent shareholders its 2009 annual report, shareholder review and AGM notice. The AGM is scheduled for 30 October 2009, with the final dividend paid 23 September. Content repeats the known FY09 results.
22 Sept 2009drilling result▲ Good
AWE (33% partner) relayed Origin's Redback South 1 gas discovery in the Wagina Sandstone at 3,934m total depth. Duplicate of the operator's release; commercial significance awaits flow testing.
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.