Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 May 2009joint venture update● NeutralMajor
Geodynamics said Habanero 3 was brought under control on day 28 after the incident, with flow stopped and two cement plugs set. An investigation will take at least six weeks and drilling is on hold. Origin holds 30% of the JV.
20 May 2009drilling progress report● Neutral
Beach weekly report: Origin's 13.19% Cooper gas development wells Cowralli-10 (3,237m TD, preparing to run logs) and Tindilpie-8 (3,071m) continue. Beach's own Tumby-1 oil well is due to spud 26 May. Routine, no new result for Origin.
19 May 2009drilling progress report▼ Bad
AWE reported Hovea-13 (Origin 50%) temporarily suspended, with a cement plug set at about 1,340m while drilling equipment repairs are carried out. This follows the earlier rig-repair delays at 1,886m. Drilling resumes once repairs finish; no result yet.
19 May 2009drilling progress report● Neutral
Origin lodged AWE's 19 May Hovea-13 suspension update. Duplicate of the operator's release.
15 May 2009material agreement● Neutral
Babcock & Brown Power confirmed it will hand the Flinders Osborne Trading contracts to Origin for nominal consideration, releasing a $125m onerous contract provision on completion expected June 2009. This is the counterparty's side of Origin's Osborne takeover for $1, already reported.
15 May 2009material agreement▲ GoodMajor
Origin agreed conditionally to take over Babcock & Brown Power's contracts for the 180 MW Osborne cogeneration plant in South Australia for $1, giving power cover to 2018. Expected to add to earnings from FY2009/10; completion is expected in June 2009.
13 May 2009asset acquisition disposition▲ GoodMajor
Australia Pacific LNG said it will not exercise its right to take ATP 788P, so Origin will acquire 100% for $660m, as agreed 22 April. About 1,150 PJ of 3P reserves are expected on completion, which still needs government approvals.
13 May 2009drilling progress report● Neutral
Beach weekly report: Origin's 13.19% Cooper wells Cowralli-10 (1,964m) and Tindilpie-8 (889m) are drilling ahead. Routine update with no result.
12 May 2009drilling progress report● Neutral
AWE reported Hovea-13 (Origin 50%) drilled ahead to 1,886m, 542m in the week, toward a planned 2,200m. Delays waiting on rig equipment and repairs continue. No result yet.
12 May 2009joint venture update● Neutral
Origin lodged Geodynamics' 12 May Habanero 3 update (6 to 9 month pilot plant delay). Duplicate of the operator's release.
12 May 2009joint venture update▼ BadMajor
Geodynamics expects to attempt to stop the Habanero 3 flow within 1 to 2 weeks and now says the 1MW pilot plant could be delayed about 6 to 9 months. Long-term plans are stated as unaffected. Origin holds 30% of the JV.
12 May 2009drilling progress report● Neutral
Origin lodged AWE's 12 May Hovea-13 update (1,886m). Duplicate of the operator's release.
6 May 2009joint venture update▼ Bad
Geodynamics said water and steam still flow from Habanero 3 (Innamincka JV, Origin 30%) and well control specialists remain on site. It confirmed the JV carries control-of-well insurance and underwriters have been notified. No end date given for the flow.
6 May 2009production update▲ Good
The Taloona gas plant at Spring Gully was officially opened, adding 36 TJ/day and lifting capacity to about 150 TJ/day, roughly a quarter of Queensland's gas needs. It completes the Phase 5 expansion ($250m), noted as commissioned in the March quarter.
6 May 2009asset acquisition disposition▲ GoodMajor
Origin bought Wind Power Pty Ltd, adding 1,460 MW of Victorian wind development sites, including the 484 MW Stockyard Hill project, and lifting its wind portfolio to over 2,000 MW. The price was not stated in the text.
6 May 2009investor presentation● Neutral
Grant King's Macquarie conference presentation restates Origin's CSG and carbon-policy strategy, including about 10,000 PJ possibly recoverable from its Queensland acreage and Walloon 3P reserves of 2,352 PJ. The excerpt shows no new announcements.
6 May 2009joint venture update● Neutral
Origin lodged Geodynamics' 6 May Habanero 3 update (flow continuing). Duplicate of the operator's release.
6 May 2009drilling progress report▲ Good
Beach weekly report: Origin's 13.19% Cooper wells Cowralli-12 (3,239m) and Tindilpie-10 (3,214m) have been cased and suspended or are being cased as future Patchawarra gas producers. Routine update.
5 May 2009drilling progress report● Neutral
AWE reported Hovea-13 (Origin 50%) had run casing at 1,344m, with only 20m drilled in the week because of delays waiting on rig repairs. Planned depth remains about 2,200m. No result yet.
5 May 2009drilling progress report● Neutral
Origin lodged AWE's 5 May Hovea-13 update (casing run at 1,344m). Duplicate of the operator's release.
30 Apr 2009quarterly activities report● Neutral
March-quarter production was 21.8 PJe, down 8% on a year earlier and 9% on December, reflecting Origin's 50% CSG dilution into APLNG and seasonal demand. Year to date production is 79.4 PJe, up 12%. Kupe sales remain on track for the September quarter; the report restates the $660m ATP 788P deal.
30 Apr 2009investor presentation● Neutral
Origin's Investor Relations manager presented to the Wilson Oil and Gas Conference under the theme of balance sheet strength providing opportunities to grow. The excerpt shows a market capitalisation of about $13bn and restates known facts.
30 Apr 2009regulatory community update● Neutral
Managing Director Grant King told a Senate committee Origin supports the Carbon Pollution Reduction Scheme and urged passage, saying uncertainty is deterring long-term supply contracts and new baseload plant investment. Restates Origin's known support for emissions trading; no change to its position.
29 Apr 2009director officer appointment▲ Good
John Akehurst, former Woodside CEO (1996-2003) and Reserve Bank board member, joined Origin's board as an independent non-executive director, effective immediately. The chair cited his LNG experience for the APLNG project.
29 Apr 2009drilling progress report● Neutral
Beach weekly report: Origin's 13.19% Cooper wells continue. Cowralli-12 is at 3,239m pulling out to log and Tindilpie-10 is drilling at 2,320m. Routine update.
28 Apr 2009other▲ Good
AGL welcomed a Queensland Supreme Court ruling, in a challenge brought by AGL and Origin, that the competition authority misread the law in setting the 2008/09 regulated retail cost index. Orders are pending, with final orders expected 14 May.
28 Apr 2009drilling progress report● Neutral
AWE reported Hovea-13 (Origin 50%) drilling ahead at 1,324m after 1,217m in the week, toward a planned 2,200m. No result yet.
28 Apr 2009drilling progress report● Neutral
Origin lodged AWE's Hovea-13 update (1,324m, drilling ahead). Duplicate of the operator's release.
27 Apr 2009joint venture update▼ Bad
Origin lodged Geodynamics' 27 April update on the Habanero 3 incident, in which steam still flows and pilot plant commissioning is suspended. Duplicate of the operator's release.
27 Apr 2009joint venture update▼ Bad
Geodynamics update: water and steam still flow from Habanero 3, the production well intended to feed the 1MW pilot plant. Commissioning is suspended with timing uncertain, undermining the earlier plan for the pilot plant to start this month.
