Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Jan 2007drilling progress report● Neutral
Wilpinnie-4's second test failed because the tool plugged on opening. The well reached 1,587m, and logs suggest an oil zone from 1,476-1,494m. Origin's 6.595% interest depends on commercial production, still unproven.
19 Jan 2007drilling progress report● Neutral
Victoria Petroleum repeats the partial first test result (about 144 bopd estimated, packer seat lost) and says the second test, DST-2, is being run at Wilpinnie-4 (Origin 6.595% if commercial). No new result.
19 Jan 2007well test result● Neutral
Wilpinnie-4's first test (DST-1) recovered about 24 barrels of oil, equal to roughly 144 bopd, though the packer seat was lost and drilling-fluid damage may have occurred. A second test follows; Origin holds 6.595% if commercial.
18 Jan 2007drilling progress report● Neutral
Wilpinnie-4 (Origin 6.595% if commercial) is running its first drill stem test over the oil shows in the mid Namur sandstone. Oil shows are about 17m higher than in Wilpinnie-3; no test result yet.
17 Jan 2007drilling progress report● Neutral
Beach's weekly report: Wilpinnie-4 (Origin 6.6%) at 1,469m preparing to core the Namur sandstone; Cowralli 8 (Origin 13%) cased and suspended at 3,223m; Coonaberry-2 (Origin 16%) at 780m. Routine Cooper Basin drilling.
16 Jan 2007drilling progress report▲ Good
Victoria Petroleum says Wilpinnie-4 (Tomcat, Origin 6.595% if commercial) is at 1,469m with oil shows in the mid Namur sandstone, about 17m higher than in Wilpinnie-3. Encouraging shows only; no test results yet.
15 Jan 2007drilling progress report● Neutral
QGC weekly report: Kenya #8 (Origin CSG 40.625%) is cased and suspended and Kenya #9, the ninth of ten Incitec Pivot wells, was spudded 14 January. Routine coal seam gas drilling.
15 Jan 2007drilling progress report● Neutral
Victoria Petroleum says Wilpinnie-4 (Tomcat, Origin 6.595% if commercial) is at 1,098m after setting surface casing at 306m, planned to 1,586m. Back on track after the re-spud; no oil results yet.
11 Jan 2007drilling progress report▼ Bad
Victoria Petroleum says Wilpinnie-4 (Tomcat, Origin 6.595% if commercial) is preparing to skid the rig and re-spud after surface casing difficulties. A setback; prospect details otherwise unchanged.
10 Jan 2007drilling spud● Neutral
Victoria Petroleum confirms Wilpinnie-4 (Tomcat prospect) started drilling 9 January, drilling at 264m, to about 1,586m. Origin would hold 6.595% if commercial. Repeats the Impress announcement.
10 Jan 2007drilling progress report▲ Good
Beach's weekly report: Itchy 1 (Origin 13.19%) flowed 2,174 bopd on test and was cased and suspended. Ramses-2 (Origin 16.7%) flowed 588 bopd from the Poolowanna Formation. Small Cooper Basin interests for Origin.
10 Jan 2007drilling spud● Neutral
Impress Energy says Wilpinnie-4 (Tomcat prospect) in PPL 93 spudded 9 January, operated by Santos. Origin holds 6.595% if it proves commercial. Target is Mid Namur oil, pre-drill 3.5 MMbbl recoverable (P50). Continues the Tomcat thread.
9 Jan 2007capital raising announcement● NeutralMajor
Origin opens a share purchase plan of up to $5,000 per eligible holder, aiming to raise up to $75m toward Sun Retail. The price is the lower of $7.10 or the 8–19 January average price less 2.5%. Offer closes 19 February 2007.
9 Jan 2007regulatory community update● Neutral
Alinta says the competition regulator's review lets it bid for Origin's infrastructure assets if it chooses. It has made no final decision on a bid. Continues the Networks review thread; no new terms.
9 Jan 2007investor presentation● Neutral
AGL presentation promoting a 'merger of equals' with Origin, typically at or near nil premium with about 50/50 ownership and a combined board. It cites complementary businesses and synergies. Prepared without Origin's input; Origin is still evaluating.
9 Jan 2007regulatory community update● NeutralMajor
The competition regulator has begun inquiries into Alinta's proposed purchase of Origin's gas infrastructure assets, including its 17% Envestra stake and 33.3% of the SEA Gas pipeline. Submissions are due 29 January 2007. Follows Origin's Networks ownership review.
9 Jan 2007business combination● Neutral
AGL announces an analyst conference call on 9 January to discuss its proposed merger with Origin. Notice only; the presentation follows separately.
4 Jan 2007business combination● NeutralMajor
AGL confirms it has made a preliminary approach to Origin for a nil-premium scrip merger to form an integrated energy major. It cites gas reserve and cost benefits and is working on competition (ACCC) issues. A potential takeover-style combination, not agreed.
4 Jan 2007business combination● NeutralMajor
Origin confirms it received an unsolicited, indicative and preliminary merger approach from AGL, but says it is not currently in discussions. It will complete an evaluation first and tell the market if it decides to proceed.
3 Jan 2007drilling progress report● Neutral
Beach's weekly report: Wackett-13 (Origin 13%) was cased and suspended after a test recovered about 8.2 bbl of oil. Ramses-2 (Origin 16%) is at 2,935m. Routine Cooper Basin activity.
3 Jan 2007drilling progress report● Neutral
QGC weekly report: Kenya #11 (Origin CSG 40.625%) is cased and suspended, and Kenya #10, the seventh of ten Incitec Pivot wells, was spudded 20 December. Routine coal seam gas drilling.
20 Dec 2006drilling progress report● Neutral
Beach's weekly report: Psyche-5 (Origin 16%), Yanda-25 (Origin 25%) and Biala-14 (Origin 13%) were cased and suspended. Ramses-2 (Origin 16%) is running surface casing. Routine Cooper Basin activity.
20 Dec 2006joint venture update▲ Good
Pancontinental says Origin has begun the 3,200km 2D seismic survey over Kenya blocks L8 and L9 (Origin 75%). Acquisition should finish in February 2007. Origin must fund the US$4m program and drill a well in each block. Continues the Kenya thread.
19 Dec 2006drilling progress report● Neutral
QGC weekly report: Kenya #18 (Origin CSG 40.625%) reached 687m with 28.1m of gassy coal, and Kenya #11, the sixth of ten Incitec Pivot wells, reached 697m. Routine coal seam gas drilling.
13 Dec 2006drilling progress report● Neutral
Beach's weekly report: Yanda-22 (Origin 25%) was cased and suspended as a Murta oil producer, and Big Lake-83 (Origin 13%) and Psyche-5 (Origin 16%) reached total depth. Routine Cooper Basin activity.
11 Dec 2006drilling progress report● Neutral
QGC weekly report: Kenya #17 and #18 in PL 228 (Origin CSG 40.625%) are the fourth and fifth of ten wells for the Incitec Pivot contract. Kenya #15 hit 24.9m of gassy coal. Routine coal seam gas drilling.
6 Dec 2006drilling progress report● Neutral
Beach's weekly Cooper Basin report: Yanda-21 (Origin 25%) was cased and suspended as a Murta oil producer, while Big Lake-83 (Origin 13%) and Yanda-22 (Origin 25%) kept drilling. Routine joint venture activity.
5 Dec 2006drilling result▼ BadMajor
ARC reports Lyginia 1 (Origin 50%) reached 2,345m and found the Dongara Sandstone 12m deeper than expected, but preliminary logs show no hydrocarbons. It is a dry first exploration well after the Eremia 6 and other Perth Basin successes.
5 Dec 2006drilling result▼ BadMajor
Origin's own release confirms Lyginia 1 (Origin 50%) reached 2,345m; the Dongara Sandstone came in about 12m deeper than expected and logs indicate no hydrocarbons. The well is being plugged and abandoned. Repeats the ARC result already reported: a dry first exploration well.
4 Dec 2006annual report● Neutral
Origin sends shareholders its report of the 25 October AGM, reprinting the chair's and managing director's addresses and the meeting results. It repeats information already released; the excerpt shows nothing new.
