Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Feb 2007drilling result▲ Good
ARC says Eremia 7 (Origin 50%) is completed as an oil producer, with a total original oil column of 24.5m, about 10m partly swept. Clean-up flow under way before tie-in to Hovea-Eremia facilities; rig moves to Jingemia 11.
21 Feb 2007drilling progress report● Neutral
Beach weekly report: Coonaberry-2 (Origin 16%) reached 2,833m TD and is preparing for logging; Dullingari-59 (13%) at 1,828m TD; Fly Lake-22 (13%) drilling in basement at 2,939m after the stuck pipe. No results given.
20 Feb 2007drilling progress report● Neutral
QGC weekly report: Kenya #4 (Origin CSG 40.625%) reached 735m with 25.7m of gassy coal and is cased, awaiting a workover rig. Rig mast damaged in a road slip, 7-10 days to repair, delaying Kenya #5. Woleebee Creek #3 also awaits workover rig.
16 Feb 2007drilling result▲ Good
Origin's own update on Eremia 7 (Origin 50%, ARC operator): total depth 2,296m measured on 14 Feb, Dongara Sandstone 2m above the best previous intersection (Eremia 6). Preliminary logs show an 11m oil column over ~16m partly swept zone; to be cased as producer.
15 Feb 2007drilling result▲ GoodMajor
Eremia 7 (Origin 50%) reached 2,996m and hit the Dongara Sandstone about 12m high to prognosis, with an 11m oil column. It will be cased as an oil producer; a good sign for Eremia field reserves.
14 Feb 2007drilling progress report● Neutral
Beach weekly report: Dullingari-58 (Origin 13%) is cased and suspended after a test recovered 5 barrels of oil. Fly Lake-22 is jarring to free stuck drill pipe; Coonaberry-2 (16%) resumed drilling.
12 Feb 2007drilling progress report● Neutral
QGC weekly report: Kenya #2 (Origin CSG 40.625%) reached 735m with 26.3m of gassy coal; Kenya #4 is cased and waiting on cement. Routine drilling in the Surat CSG program.
8 Feb 2007drilling progress report● Neutral
Eremia 7 (Origin 50%) is drilling ahead at 542m. No hydrocarbon indications reported yet.
7 Feb 2007other▲ GoodMajor
Origin accelerates a roughly 500MW gas-fired Darling Downs power station near Braemar, gained with Sun Retail, alongside the 1,000MW Spring Gully plan. Final investment decision stays on track for Q2 2007 (previously March quarter, Spring Gully).
7 Feb 2007half year report● Neutral
Notice that Contact Energy (Origin 51.36%) will release half-year results on 23 February 2007, with an interim dividend record date of 9 March. Administrative notice only; no results.
7 Feb 2007drilling progress report● Neutral
Beach weekly report: Dullingari-58 (Origin 13%) is at 1,822m TD, running logs. Fly Lake 22 (13%) is drilling surface hole; Coonaberry-2 (16%) remains suspended for road closures. No results.
6 Feb 2007drilling spud● Neutral
Origin's own release of the Eremia 7 appraisal well start (50% Origin, ARC operator), duplicating ARC's announcement. Targets the Dongara Sandstone near the field crest, planned depth about 2,263m.
6 Feb 2007drilling spud● Neutral
ARC spudded the Eremia 7 oil appraisal well (Origin 50%) in Perth Basin L1 on 3 February, targeting the Dongara Sandstone at about 2,117m. Planned total depth 2,263m; follows the Eremia 6 well.
5 Feb 2007business combination● NeutralMajor
Origin confirms it has entered merger discussions with AGL Energy, moving on from evaluating AGL's 4 January approach. It warns there is no certainty of an agreed proposal.
5 Feb 2007business combination● Neutral
AGL welcomes Origin's decision to enter talks on a potential merger of equals. Adds that the market will be updated on material developments; no new terms.
5 Feb 2007drilling progress report● Neutral
QGC weekly report: Kenya #3 (Origin CSG 40.625%) reached 735.6m with 25.5m of gassy coal, and Kenya #2 spudded 2 February. Routine reserves-certification and Incitec Pivot supply drilling.
1 Feb 2007asset acquisition disposition▲ GoodMajor
Origin completes the $1,202m purchase of Sun Retail from the Queensland Government, adding about 840,000 electricity and 55,000 LPG customers. Funded by the $400m placement, a planned $75m share purchase plan and debt.
31 Jan 2007drilling progress report● Neutral
Beach weekly report: Wilpinnie-4 (Origin 7%) is cased and suspended; Coonaberry-2 (Origin 16%) and Moorari 12 (Origin 13%) are suspended because of road closures. No new results.
30 Jan 2007joint venture update▲ Good
Pancontinental says the US$4m, 3,759km Kenya L8/L9 seismic survey, funded by Origin (75%), is finished ahead of schedule. Processing is due June 2007. Origin's option to drill in L8 runs to October 2007; the earlier 14 July drop-out date in the context differs from this text.
30 Jan 2007asset acquisition disposition▲ GoodMajor
Origin is proceeding with the sale of its Networks business (Envestra manager, 17% of Envestra, 33.3% of SEA Gas) after strong interest, and says it is confident of completing a sale. Follows the 27 November review; no price or buyer named.
29 Jan 2007security holder rights change● Neutral
Origin changes its dividend reinvestment plan rules from the 2007 interim dividend. It may buy shares on-market instead of issuing new ones, the pricing period moves to the 10 days after the record date, and partial-share rounding changes.
29 Jan 2007capital raising announcement● Neutral
Origin mails its share purchase plan offer: shares at $7.10 in parcels of 100-700, closing 19 February 2007, to raise up to $75m for Sun Retail. Scale-back is possible if oversubscribed. The price is stated as a 24% discount to the 8-19 January average.
29 Jan 2007drilling progress report● Neutral
QGC weekly report: Kenya #7 (Origin CSG 40.625%), the tenth Incitec Pivot well, reached 697.5m with 25.7m of gassy coal and awaits a workover rig. Kenya #3, a reserves-certification well, spudded 27 January.
29 Jan 2007drilling result● Neutral
Victoria Petroleum confirms Wilpinnie-4 (Tomcat) is cased and suspended at 1,587m for production testing, with an 18m oil zone. Repeats the earlier result; Origin's 6.595% applies only if commercial production is proven.
29 Jan 2007production update▲ Good
QGC says its Argyle-Kenya gasfield (Origin CSG 40.625%) is 75% built, with 11 of 15 wells drilled. Commercial gas could flow from March 2007, ahead of the October 2007 contract date for Incitec Pivot's 7.4 PJ a year.
25 Jan 2007drilling result▲ Good
Wilpinnie-4 (Tomcat) found an 18m oil column from 1,476-1,494m in the Mid Namur and will be cased and suspended as a future producer. Test flows were limited (about 144 bopd). Origin holds 6.595% if commercial.
25 Jan 2007drilling result▲ Good
Victoria Petroleum confirms Wilpinnie-4 will be cased for later production testing, with a gross 18m oil zone in the Mid Namur. Repeats the Impress result; Origin holds 6.595% if commercial production is proven.
24 Jan 2007drilling progress report● Neutral
Beach's weekly report: heavy rain has delayed Cooper Basin drilling. Wilpinnie-4 (Origin 7%) is at 1,586.8m with the second test showing the tool plugged; Coonaberry-2 (Origin 16%) is at 2,297m. Routine.
24 Jan 2007business combination● NeutralMajor
Alinta says it will not bid for Origin's infrastructure assets (17% Envestra, 33.3% SEA Gas, asset management), and has asked the competition regulator to end its inquiries. This ends the Alinta thread; the AGL approach remains.
23 Jan 2007drilling progress report● Neutral
QGC weekly report: Kenya #9 (Origin CSG 40.625%) reached 688m with 27.2m of gassy coal and Kenya #7, the tenth Incitec Pivot well, spudded 20 January. Completes the drilling of the ten-well program; routine.
