Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Apr 2007drilling progress report● Neutral
Beach weekly report on Santos-operated Cooper Basin wells: Fly Lake-21 (Origin 13%) TD 2,965.5m, cased and suspended as a successful gas well; Thurakinna-6 (13%) cementing production casing at 2,417m. No flow rates.
18 Apr 2007drilling progress report● Neutral
QGC weekly report: Kenya #20 (Origin CSG 40.625%) reached 702m with 19.6m of gassy coal and awaits a workover rig; Kenya #13 is drilling at about 201m. No flow results.
13 Apr 2007drilling progress report● Neutral
Beharra Springs 4 (Origin 67%) is drilling at 2,630m, 1,300m deeper than the 5 April report, heading for intermediate casing at 3,240m. The May coil tubing section to 3,374m is unchanged.
13 Apr 2007drilling progress report● Neutral
ARC Energy (33% partner) re-releases Origin's 13 April Beharra Springs 4 update. No new information.
11 Apr 2007drilling progress report● Neutral
Beach weekly report on Santos-operated Cooper Basin wells: Fly Lake-21 (Origin 13%) drilling at 2,377m; Moomba-36 ST1 a successful sidetracked gas well; Thurakinna-6 (13%) drilling at 1,052m. No flow results.
11 Apr 2007drilling progress report● Neutral
QGC weekly report: Kenya #6 (Origin CSG 40.625%) reached 702m with 25.3m of gassy coal and awaits a workover rig; Kenya #20 is drilling at about 315m. Berwyndale #6 is cased, awaiting workover. No flow results.
10 Apr 2007farm in farm out agreement● NeutralMajor
AWE will take an extra 7.4% of the Trefoil/White Ibis T/18P permit from Origin, lifting it to 30% and carrying part of Origin's forward exploration spend. Origin also buys AWE's 24.29% onshore Otway Basin interests for $5m cash.
5 Apr 2007drilling progress report● Neutral
ARC Energy (33% partner) re-releases Origin's 5 April Beharra Springs 4 update. No new information.
5 Apr 2007drilling progress report● Neutral
Beharra Springs 4 (Origin 67%) has surface casing set at 1,004.6m and was drilling at 1,330m, 1,100m of progress in the week. Target is intermediate casing at about 3,240m, then a May coil tubing section to 3,374m.
4 Apr 2007investor presentation● Neutral
APA's presentation on buying Origin's Networks assets repeats the $556.5m price plus $15.4m costs, multiples and July completion. No new information about Origin.
4 Apr 2007drilling progress report● Neutral
Beach weekly report on Santos-operated Cooper Basin wells: Fly Lake-23 (Origin 13%) cased and suspended; Barina 8 (13%) reached 2,277.5m and was cased and suspended as a successful gas development well. No flow rates given.
4 Apr 2007asset acquisition disposition▲ Good
APA Group announces it will buy Origin's Networks assets for $556.5m plus $15.4m costs: OEAM $252.9m, 17.2% of Envestra $170.4m ($1.20/security), 33.3% of SEA Gas $133.2m. Completion expected July 2007.
4 Apr 2007asset acquisition disposition▲ GoodMajor
Origin agrees to sell its Networks business (Envestra management, 17% Envestra, 33.3% SEA Gas) to APA for $556.5m, resolving the sale process begun after Sun Retail. It is conditional on Envestra consents to transfer the management agreements.
3 Apr 2007production update▲ GoodMajor
Origin commits a further $53m to lift Spring Gully coal seam gas output by 20 TJ/d and build a water treatment plant, on top of the $114m expansion announced last July. It will serve Incitec Pivot contracts from the second half of 2007.
2 Apr 2007drilling progress report● Neutral
QGC weekly report: Berwyndale #7 and Berwyndale South #47 are cased, awaiting workover rigs; Berwyndale #6 is drilling at 564m. Kenya #6 (Origin CSG 40.625%) is rigging up for Incitec Pivot gas supply. No flow results.
30 Mar 2007regulatory community update● Neutral
Origin forwards Contact Energy's (51.36% owned) submission on New Zealand's draft energy strategy, setting a goal of cutting electricity emissions 40% within seven years. Contact says its Otahuhu C gas plant decision stays deferred.
29 Mar 2007drilling spud● Neutral
ARC Energy (33% partner) re-releases Origin's announcement that Beharra Springs 4 began drilling on 28 March. No new information.
29 Mar 2007drilling spud● Neutral
Origin began Beharra Springs 4 (L11, Origin 67%, ARC 33%) on 28 March to appraise gas in a compartment seemingly separate from the main field. Target is the Wagina Sandstone; the final section is to be drilled in May 2007 to about 3,374m.
28 Mar 2007drilling progress report▼ Bad
Beach weekly report on Santos-operated Cooper Basin wells: Dullingari-60 (Origin 13%) plugged and abandoned after a Murta test recovered only 0.5 bbl of oil; Fly Lake-23 running logs at 2,944m; Barina 8 drilling. No commercial result.
27 Mar 2007investor presentation● Neutral
Origin forwards Contact Energy (51.36% owned) investor presentation slides from Taupo, covering strategy, renewables, geothermal and Rockgas. Largely repeats known Contact plans.
26 Mar 2007dividend declaration● Neutral
Origin sets the dividend reinvestment plan price at $8.8229 per share for the 10c interim dividend paid 30 March 2007. No discount applies.
26 Mar 2007half year report● Neutral
Origin sends shareholders its half-year report, repeating the 28 February results: NPAT $233m (+20%), EBITDA $640m, 10c dividend. It says second-half earnings will be lower, but full-year earnings should rise. No new information.
23 Mar 2007half year report● Neutral
Origin forwards the half-year report of Contact Energy (51.36% owned): EBITDAF NZ$275.4m, down 2%, 10c interim dividend, and a renewable program of up to NZ$2bn. Confirms Contact's Rockgas purchase from Origin. Mostly repeats known facts.
21 Mar 2007drilling result● Neutral
ARC Energy (44.141% partner) re-releases Origin's 21 March Jingemia 11 update: 31m of oil-saturated Dongara Sandstone, preparing to perforate and connect. No new information.
21 Mar 2007drilling progress report● Neutral
Beach weekly report on Santos-operated Cooper Basin wells: Epsilon-11 (Origin 13%) cased and suspended as a gas well at 2,221m; Fly Lake-23 and Dullingari-60 (13%) still drilling. No flow results.
21 Mar 2007drilling result▲ Good
Origin confirms Jingemia 11 (49.189%) intersected 31m of oil-saturated Dongara Sandstone, 14m updip of Jingemia 4, though the lower 8m looks partly swept by existing producers. It is preparing to perforate and connect to the facility. Production result still pending.
20 Mar 2007other● Neutral
Origin launched a Carbon Reduction Scheme for businesses, covering verification and offsets of emissions, with NAB, Transurban and Lend Lease among foundation supporters. No financial figures or earnings impact are given.
19 Mar 2007drilling progress report● Neutral
QGC weekly report: Kenya #5 (PL 228, Origin CSG 40.625%) reached 734.8m with 30.1m of gassy coal and is cased, awaiting a workover rig. Completes the reserves-certification five-spot drilling; earlier it was delayed by rig mast damage. Other QGC wells reported; no flow results.
19 Mar 2007drilling result▲ Good
Victoria Petroleum says Origin's Jingemia-11 logs show the full 31m Dongara Sandstone, with a 23m oil column over an ~8m partly swept zone, 14m updip of the best producer. Casing is being run to complete it as a producer; field target is about 5,000 bopd from 3,000.
15 Mar 2007drilling progress report▲ Good
Victoria Petroleum: wireline logging under way at Jingemia-11 after reaching 2,606m TD. Preliminary logs still indicate oil-saturated Dongara Sandstone from 2,489 to 2,520m. No new result.
