Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
8 Jan 2009farm in farm out agreement▲ GoodMajor
Partner Pancontinental says Origin will fully fund a 3D seismic survey (minimum US$10m) and all costs for two years from 22 Jan 2009, lifting its earned interest in Kenya L8 to 75%. L8 area shrinks, L9 is relinquished; this follows the pending 21 Jan decision.
7 Jan 2009drilling progress report● Neutral
Beach weekly report: Origin's Spencer West-3 (13.19%) is drilling at 3,007m in the Patchawarra Formation. Beach's Callawonga-6 found 9.5m of net oil pay, with no Origin interest. Routine update.
31 Dec 2008annual report● Neutral
Origin sends its 2008 Sustainability Report to shareholders who elected to receive it. It restates known facts, such as 5,770 PJe of reserves as at 30 June 2008 and a $2bn-plus power build. No new information is visible.
31 Dec 2008production update● Neutral
Partner AWE forwards Origin's BassGas release, which says production is back to normal after the Yolla 4 repair. No new information beyond Origin's own announcement.
31 Dec 2008production update▲ Good
BassGas output is back to normal, including LPG and condensate, after remedial work on the Yolla 4 well. Both Yolla 3 and 4 are now available. This resolves the November shut-in that cut production to one-third.
22 Dec 2008other● Neutral
Administrative notice: Origin lodges another form 484 with ASIC on the cancellation of shares. No figures are shown in the text.
17 Dec 2008drilling progress report● Neutral
Beach weekly report: Origin's Gidgealpa-61 (13.19%) is drilling at 1,661m and Okotoko-3 (16.74%) is TD 2,332m and being cased as a future gas producer. Tirrawarra-74 also lists Origin at 13.19%. Routine update.
15 Dec 2008other● Neutral
Administrative notice: Origin lodges a form 484 with ASIC on the cancellation of shares. No figures are shown in the text.
10 Dec 2008drilling progress report● Neutral
Beach weekly report: Origin's interests are Gidgealpa-60 (13.19%, successful) and Okotoko-3 (16.74%, drilling at 933m). Beach's Burtocal-2B in Egypt found a 31m oil column. Routine update.
8 Dec 2008director officer appointment● NeutralMajor
Managing director Grant King's contract is extended five years from 1 July 2009, with fixed pay unchanged at $2.1m and incentives raised to up to 120% each. Karen Moses becomes Executive Director, Finance and Strategy, joining the board after February results. Frank Calabria moves to run Australian energy markets.
5 Dec 2008other● Neutral
Administrative notice: Origin lodges another form 484 with ASIC on the cancellation of shares. No figures are shown in the text.
3 Dec 2008drilling progress report● Neutral
Beach weekly report: Origin's Tirrawarra-76 (13.19%) reached 2,996.5m TD and is to be cased and suspended as a future Patchawarra and Toolachee gas producer. Beach's PeeJay-1 was plugged and abandoned after finding no significant hydrocarbons.
27 Nov 2008other● Neutral
Administrative notice: Origin lodges a form 484 with ASIC on the cancellation of shares. The text shows no number of shares; presumably linked to the buy-back (inference).
26 Nov 2008drilling progress report● Neutral
Beach weekly report: Origin's Gidgealpa-59 (13.19%) was unsuccessful, while Vega-3 (16.74%) is cased and suspended as a future Permian gas producer. Routine update.
25 Nov 2008contract award● Neutral
Norfolk Group announces its own contract wins. One is Origin appointing O'Donnell Griffin as installer for its home solar systems in SA, WA, NSW and Qld, initially worth $12m a year to Norfolk, with about 20,000 panels by 2013. Small for Origin.
19 Nov 2008drilling progress report● Neutral
Beach weekly report: Origin's Vega-3 (16.74%) reached 2,804m TD and is running wireline logs. Gidgealpa-59 and Tirrawarra-76 are listed with Origin at 13.19%. Routine update.
19 Nov 2008production update▼ Bad
BassGas production is down to about one-third of normal after the Yolla 4 well shut in when a sub-surface valve closed automatically. Origin expects normal output by end December 2008; a similar Yolla 3 problem was fixed in January 2008. Origin holds 42.5% (37.5% + 5.0%).
12 Nov 2008drilling progress report● Neutral
Beach weekly report: Origin's only listed well, Vega-3 (16.74%), is drilling at 1,695m. Beach's Canunda-1 is due to spud around 14 November, and the PeeJay-1 rig is back on location after repairs. Routine update.
11 Nov 2008investor presentation● Neutral
Origin's chief operating officer presents to the Morgan Stanley Asia Pacific Summit in Singapore, repeating the integration theme and the ConocoPhillips joint venture. The text shown is mostly disclaimers and known background, so nothing new is visible.
10 Nov 2008other● Neutral
Standard & Poor's says Origin Energy will join the S&P/ASX 20 index after the close on 17 November 2008, replacing St.George Bank, which is subject to its Westpac merger. An index change only; the company itself is not changed.
5 Nov 2008drilling progress report● Neutral
Beach weekly report: Yawa-2 (Origin 16.74%) cased and suspended as a future gas producer. Big Lake-91 (13.19%) reached 3,115m TD and is to be cased as a gas producer. Beach's Brownlow-1 is a gas discovery, with no Origin interest.
3 Nov 2008investor presentation● Neutral
Investor presentation to UK and US investors by the managing director and CFO, recapping the year: power station builds, the Taranaki acquisitions and the ConocoPhillips joint venture. The text shown restates known facts and nothing new is visible.
30 Oct 2008business combination▲ GoodMajor
Origin and ConocoPhillips complete formation of Australia Pacific LNG, a 50:50 CSG-to-LNG joint venture, with A$6.9bn received for the US$5bn upfront. It targets a 14 million tonne per annum project, an FID on Train 1 at the end of 2010 and first LNG in 2014.
30 Oct 2008capital raising announcement▲ GoodMajor
The ConocoPhillips deal completes and Origin receives US$5bn (A$6.9bn). It declares an extra 25c fully franked dividend, paid 21 November, and starts a buy-back of up to A$1.275bn on 13 November. Origin now has no net interest-bearing debt.
29 Oct 2008drilling progress report● Neutral
Beach weekly report: Origin's Yawa-2 (16.74%) reached 2,625m TD and Big Lake-91 (13.19%) is drilling at 2,451m. Other wells are Beach and Santos business with no Origin interest listed. Routine update.
23 Oct 2008other● Neutral
Contact Energy (Origin owns 51.36%) AGM address, forwarded to the ASX. Contact says grid constraints raised South Island prices, and it does not expect to outperform its 2008 result. Its $3bn, 1,400MW investment program continues.
23 Oct 2008investor presentation● Neutral
Origin's exploration and production head presents 'Coal Seam Gas Comes of Age' to a JPMorgan event. It covers strategy, the ConocoPhillips joint venture and CSG operations. The text shown is mostly disclaimers and known background, so nothing new is visible.
23 Oct 2008material agreement▲ GoodMajor
ConocoPhillips receives FIRB approval, so the 50% CSG-to-LNG joint venture is now unconditional. The US$5.0bn upfront payment settles in about a week. This clears the last condition, after which the 25c dividend and buy-back follow.
22 Oct 2008drilling progress report● Neutral
Beach weekly report: Tickalara-19 (no Origin interest listed) cased as a future oil producer, and Beach's Brownlow-1 spudded. The listed Origin wells, Yawa-2 (16.74%) and Big Lake-91 (13.19%), are drilling. Routine update.
20 Oct 2008contract award▲ Good
Origin signs a long-term power purchase agreement with ACCIONA for output of the 192MW Waubra Wind Farm in Victoria, with commissioning expected mid-2009. Origin receives energy and renewable certificates for its renewable target obligations. Price and term are not stated.
