Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Mar 2009capital raising announcement● Neutral
Contact Energy, 51.36% owned by Origin, is seeking to raise NZ$300m through five-year retail bonds at 8.00% a year, closing 31 March. Funds support its geothermal, Stratford peaking and gas storage projects, and may repay debt.
26 Feb 2009investor presentation● Neutral
Analyst presentation for the half-year result, repeating the $277m underlying profit, 25c dividend and $6.4bn of cash and undrawn debt facilities after the APLNG deal. No new figures are visible in the readable text.
26 Feb 2009half year report▲ GoodMajor
Origin's half-year underlying profit rose 38% to $277m, with statutory profit $6.7bn including the APLNG gain, and revenue up 10% to $4,216m. It has $4,073m cash and $2,313m undrawn facilities. The interim dividend is 25c.
26 Feb 2009dividend declaration▲ GoodMajor
Origin declared a fully franked 25c interim dividend, up 108%, payable 25 March (record date 10 March). It reaffirmed a final dividend of at least 25c, for at least 50c for the year. The $2.3bn APLNG work program to FID in late 2010 is underway.
26 Feb 2009investor presentation● Neutral
Media presentation for the half-year result, repeating the same headline figures: $277m underlying profit, 25c interim dividend and $6.4bn of cash and undrawn facilities. No new information in the readable text.
25 Feb 2009asset acquisition disposition● Neutral
Adelaide Energy received $168,000 from Origin Energy Retail for January gas from the Katnook plant it took over from Origin. February output averages 2 TJ/d, with Haselgrove South 1 at 3.5 TJ/d. Continues the completed Katnook sale.
25 Feb 2009production update▲ Good
Origin's Quarantine Power Station in South Australia synchronised with the grid and ran at full output, and can deliver its full 120 MW if needed during hot weather. The South Australian Premier said the project had invested almost $90m in the State.
25 Feb 2009joint venture update▼ BadMajor
Geodynamics says the closed-loop test is complete, with validation due by end March. Savina 1 stuck pipe could not be recovered and the well is plugged at 2,640m. Origin (30% JV) and Geodynamics are weighing a sidetrack. Pilot plant commissioning is delayed to end April.
25 Feb 2009drilling result▼ Bad
Beach weekly report: Origin's Muteroo-6 (13.19%) was plugged and abandoned at 1,971m, an unsuccessful well. Mudrangie South-1 (13.19%) is drilling at 3,058m. A minor dry hole for Origin's Cooper Basin interests.
24 Feb 2009half year report▼ Bad
Contact Energy (51.36% owned by Origin) reported half-year EBITDAF of $224.7m, down 20.3%, and underlying profit of $79.9m, down 31.2%, blamed on drought, heavy spill and transmission limits. This confirms its January downgrade warning.
18 Feb 2009drilling progress report● Neutral
Beach weekly report: Origin's Muteroo-6 (13.19%) is at 1,971m, Mudrangie South-1 (13.19%) is drilling at 1,737m, and Fly Lake-27 (13.19%) is to be cased as a future Permian gas producer at 2,944m. Routine update.
11 Feb 2009drilling progress report● Neutral
Beach weekly report: Origin's Muteroo-6 (13.19% listed) is drilling at 1,592m, and Fly Lake-27 (13.19%) at 2,291m. Beach's Jackson East-2 was successful. Routine update.
9 Feb 2009investor presentation● Neutral
Contact Energy retail investor presentation explaining its January earnings guidance and the effect of the missing HVDC Pole 1 transmission link. It restates known facts; no new figures are visible in the readable text.
5 Feb 2009director officer appointment● Neutral
Contact Energy says its CFO Kim Josling will move to a role with Origin in March; a replacement search is under way. This ties to Origin's ongoing management changes.
5 Feb 2009drilling progress report● Neutral
Geodynamics says the closed-loop test is 75% done (31 of 42 days), finishing mid to late February, then external review. The Savina 1 stuck pipe is being recovered, with about 400m released. Origin holds 30% of the JV.
4 Feb 2009drilling progress report● Neutral
Beach weekly report: Origin's Bindah-3 (20.21%/13.19% listed) is to be cased and suspended as a future Patchawarra producer at 3,040m. Beach's Perlubie-1 found oil, with no Origin interest. Routine update.
30 Jan 2009quarterly activities report● Neutral
December quarter production fell 30% to 23.9 PJe and revenue 41% to $116.3m, after the APLNG deal halved Origin's CSG share and BassGas was constrained. Half-year production and revenue rose 23%. Buy-back paused until the 26 Feb results.
30 Jan 2009asset acquisition disposition● Neutral
Adelaide Energy says it has received $1,082,790 from Origin under the Katnook agreement, with the completion date given as 18 December 2008. Katnook plant is producing about 2.5 TJ/d. This resolves the pending Katnook sale.
29 Jan 2009other● Neutral
Administrative notice: Contact Energy, 51.36% owned by Origin, will release half-year results on 24 February 2009. No other substance.
28 Jan 2009drilling result▼ Bad
Beach weekly report: Origin's Tirrawarra-77 (13.19%) was plugged and abandoned after no commercial hydrocarbons at 3,044m. Bindah-3 (13.19%) is drilling at 2,603m. A minor dry hole for Origin's Cooper Basin interests.
21 Jan 2009drilling progress report● Neutral
Beach weekly report: Origin's Bindah-3 (13.19%) is cementing surface casing at 920m and Tirrawarra-77 (13.19%) is coring at 2,993m. Beach's Gunyah-1 was dry. Routine update.
20 Jan 2009other▼ BadMajor
Contact Energy (Origin owns 51.36%) says drought, then heavy South Island hydro spill, transmission limits and higher gas costs will cut this year's EBITDAF about 15% and underlying after-tax earnings about 20-23% versus last year.
19 Jan 2009production update▲ GoodMajor
Origin's 640MW Uranquinty gas peaking power station, bought from Babcock and Brown Power for $700m in July 2008, is fully operating with all four 160MW units online. This completes the pending purchase and build.
14 Jan 2009drilling progress report● Neutral
Geodynamics (Origin holds 30% of the Innamincka JV) hit a flowing fracture in the granite at Savina 1 (3,700m), but the drill pipe is stuck. The closed-loop test is delayed by leaking heat exchanger plugs, and is to run six weeks once restarted.
14 Jan 2009drilling progress report● Neutral
Beach weekly report: Origin's Spencer West-3 (13.19%) was successful and Tirrawarra-77 (13.19%) was cased and suspended as a future Patchawarra/Tirrawarra gas and oil producer. Beach's Fermat-1 found no significant hydrocarbons. Routine update.
14 Jan 2009other● Neutral
Administrative notice: Origin lodges another form 484 with ASIC on the cancellation of shares. No figures are shown in the text.
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.
