21 June 2012drilling progress report● Neutral
Geodynamics reports Habanero 4 at 3,883m, up 313m, in line with expected slower rates in the Merrimelia and granite formations. Origin holds 30%. Routine progress.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 June 2012drilling progress report● Neutral
Geodynamics reports Habanero 4 at 3,570m, up 200m, with drilling slowing in hard Patchawarra and Tirrawarra formations but in line with plan. Origin holds 30% of the Innamincka Deeps JV. Routine progress.
6 June 2012drilling progress report● Neutral
Beach Energy's May drilling report covers Cooper Basin wells in which Origin is not named as a participant. It is not specific to Origin and adds nothing to its story. Likely a mis-filed or unrelated item; no Origin-specific impact is stated.
29 May 2012drilling spud▲ Good
Drilling of Geographe 2, the first of two development wells for the Geographe gas field in the Otway Basin, began on 29 May 2012. The field was approved in October 2011 and will connect to the Thylacine platform. Origin holds 67.23% as operator.
24 May 2012drilling progress report● Neutral
Geodynamics reports Habanero 4 in the Innamincka Deeps JV at 3,370m, having drilled 551m since the last report. Origin holds 30%. Routine progress with no new result.
14 May 2012drilling result▼ BadMajor
Thistle 1, the Otway Basin exploration well spudded 19 April, reached 2,265mRT (short of the planned 2,559mRT) with no shows in the target Waarre Sandstones. Plug and abandonment is being planned. This is a dry hole; Origin holds 67.23% as operator.
19 Apr 2012farm in farm out agreement▼ Bad
Norwest confirms the North Erregulla 3D survey is delayed to early 2013, post-harvest, because Origin could not mobilise the crew before wheat seeding. Origin still pays 80% of cost to earn 40%; Norwest keeps 20%. Duplicates the Empire notice.
19 Apr 2012farm in farm out agreement▼ Bad
Empire says the North Erregulla 3D seismic survey (100 sq km) in EP 368/EP 426, Perth Basin, moves from 15 May 2012 to 15 May 2013, as Origin could not mobilise a crew before wheat seeding. Origin still earns 40% by paying 80% of costs.
19 Apr 2012drilling spud● Neutral
Origin spudded the Thistle 1 exploration well in VIC/P43, Otway Basin, 16km from the Geographe field, using the Stena Clyde rig. Planned depth is 2,559mRT. Origin holds 67.23% as operator and will report only on completion.
10 Apr 2012drilling scheduled▲ GoodMajor
Apache secured the drill ship Deepsea Metro 1 for the Mbawa well in Kenya L8 (Origin 20%), with spud expected in Q3 2012. Planned depth is 3,250m in 860m of water; it follows earlier mid-to-Q3 timing. Well cost estimates have risen, according to Pancontinental.
19 Mar 2012drilling scheduled● Neutral
AWE says Halliburton has confirmed fracture-stimulation equipment for three Perth Basin wells from June 2012. One is Senecio-2 in L1/L2, where Origin holds 50%; it tests whether the tight gas reservoir, which flowed over 1 MMcf/d unstimulated, can do better.
1 Feb 2012drilling progress report● Neutral
Beach's January drilling report covers its own Cooper Basin wells. Santos-operated gas wells, in which Origin has 13.19% via the Cooper JV, saw four drilled, three cased and suspended as future producers. No Origin-specific results.
6 Dec 2011farm in farm out completion● Neutral
ERM Power welcomed settlement of Origin's farmin to EP 426. Its interest falls to 13.89% once Origin earns 40% by paying 80% of the seismic survey cost. Third-party repeat of the 5 December settlement.
5 Dec 2011farm in farm out completion▲ GoodMajor
Farmin agreements for North Erregulla permits EP 368 and EP 426 were signed 5 December, settling the August letter deal. Origin earns 40% in each by paying 80% of a 100 sq km 3D seismic survey; Empire stays operator.
5 Dec 2011farm in farm out completion● Neutral
Norwest, a partner in EP 368 and EP 426, confirmed Origin's farm-in and will keep its 20% by paying 20% of the seismic cost. Empire's mapping suggests up to 22 million barrels of oil potential. Restates the Origin deal already announced.
24 Nov 2011drilling scheduled▲ Good
Geodynamics, operator of the Innamincka Deeps JV (Origin 30%), targets a first-quarter 2012 spud of Habanero 4 to about 4,170m, replacing the suspended Habanero 3. The $90m government grant is being brought forward, covering up to 50% of appraisal costs over two years.
7 Oct 2011farm in farm out completion● Neutral
Pancontinental says its farmout of Kenya L8 to Tullow completed on Kenyan ministerial consent. Per the announcement, L8 holders are Apache 50% operator, Origin 20%, Pancontinental 15%, Tullow 15%. Origin's share is stated at 20%, versus the 25% previously recorded. Mbawa rig and timing not yet set.
22 Aug 2011farm in farm out agreement● Neutral
Norwest Energy will keep its 20% in EP 368 and EP 426 and pay its share of the 3D seismic survey, planned for the first quarter of 2012. It confirms Origin would earn 40% by funding 80% of survey costs. This repeats the Empire farm-in terms.
18 Aug 2011farm in farm out agreement● Neutral
ERM Power welcomes Origin's farm-in to the EP 426 permit in the North Perth Basin, saying it will reduce ERM's capital needs there. It adds no new terms beyond Empire's announcement of the same day.
18 Aug 2011farm in farm out agreement▲ GoodMajor
Origin agreed conditional farm-in terms to earn 40% of Perth Basin permits EP 368 and EP 426 by operating and paying 80% of a 100 sq km 3D seismic survey, targeting the North Erregulla prospect. Formal agreement still needs board approvals; announced by Empire, not Origin.
28 July 2011resource reserve update▲ GoodMajor
Origin's 2P reserves at 30 June 2011 were 7,041 PJe, up 834 PJe (13%) from 6,207 PJe, after 135 PJe of production. Ironbark gets its first 2P booking of 118 PJe. Sinopec's completion would cut Origin's APLNG share by 883 PJe.
15 July 2011drilling result▼ BadMajor
Dao Ruang-3, the appraisal well in Thailand's L15/50 where Origin holds 40%, reached 1,800m and will be plugged and abandoned without a flow test. It found gas shows but limited producer potential, resolving the open result and adding to the Salamander farm-in's dry wells.
15 June 2011farm in farm out completion▲ GoodMajor
Origin completed the sale of 50% of Kenya Block L8 to Apache, which becomes operator. Origin was reimbursed US$13.2m, and Apache will meet part of Origin's cost of the first Mbawa well. Origin now holds 25%; timing of drilling is not set.
20 May 2011drilling result▼ BadMajor
Celsius 1 geothermal well was cased and suspended: temperatures above 145°C were found, but permeability is below target, a setback for the Innamincka Shallows. Next candidates are Boyle 1 (Origin 100%, GEL 185) and Fahrenheit 1 (50:50 with Geodynamics).
27 Apr 2011drilling spud● Neutral
Dao Ruang-3 in Thailand block L15/50 (Origin 40%) has spudded, to 1,900m TVDSS and about 45 days if dry. It follows Dao Ruang-2's sub-commercial test; drilling at Bualuang in B8/38 has also resumed after rig repairs.
20 Apr 2011drilling progress report● Neutral
Celsius 1, the first Innamincka Shallows geothermal well (Origin 50% operator, Geodynamics 50%), reached its target depth of 2,360m sub-sea. Logging and testing have begun; results will be released later, and Boyle-type drilling in Origin's 100% GEL 185 follows.
4 Apr 2011drilling spud● Neutral
Rig 100 began drilling Celsius 1, the first of two geothermal exploration wells in the Innamincka Shallows JV (Origin 50% operator, Geodynamics 50%), targeting Hutton Sandstone near 2,140m. A further well follows in Origin's 100% GEL 185.
15 Mar 2011drilling progress report● Neutral
Salamander says the Dao Ruang-2 appraisal well in Thailand (Origin 40%) reached 1,915m with strong gas shows and a pressure kick from gas at 1,840m. Partners will deepen it by 525m, about 8 days, before choosing a testing programme. No result yet.
14 Mar 2011resource reserve update● Neutral
Pancontinental released Origin's first technical report on Kenya Block L8's Mbawa prospect: unrisked mean in-place potential of 2 billion barrels of oil (P10 up to 4.9bn) in Tertiary/Cretaceous. Unproven, based on partial seismic processing; no drilling yet. Apache is to set the drill date.
7 Mar 2011farm in farm out agreement▲ Good
Pancontinental says Tullow will farm in for 10% of Kenya Block L8, leaving Pancontinental 15%. Origin's 25% after the Apache deal is unchanged, and completion is expected by June 2011. This builds on Origin's 16 February farm-out to Apache.