Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
30 Nov 2006drilling progress report● Neutral
ARC reports Lyginia 1 (Origin 50%) drilling ahead at 949m after setting casing at 602m. No hydrocarbon indications are reported; the Dongara Sandstone target is expected around 2,215m.
29 Nov 2006capital raising announcement● NeutralMajor
Origin completes its $400m placement of about 56.3m shares at $7.10, a 2.6% discount to the 24 November close. Proceeds part-fund Sun Retail. A share purchase plan of up to $5,000 per holder is planned for early 2007.
What it means for a shareholder
56.3m new shares at A$7.10 to raise about A$400m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
29 Nov 2006drilling progress report● Neutral
Beach's weekly report: Yanda-24 (Origin 25%) was cased and suspended as a future Murta oil producer. Yanda-21 reached 1,949m, and Big Lake-83 (Origin 13.19%) is drilling. Routine Cooper Basin development activity.
27 Nov 2006flow test result▲ GoodMajor
ARC reports Eremia 6 (Origin 50%) flowed 3,790 barrels of oil a day on test, with no water, from an 8m interval. It is the third strong Perth Basin development well after Jingemia 8 and Hovea 12; a permanent flowline is due in about three weeks.
27 Nov 2006asset acquisition disposition▲ GoodMajor
Origin agrees to buy Sun Retail from the Queensland Government for $1,202m: 833,000 retail customers, wholesale and LPG businesses. Settlement is 1 February 2007. Funded by a $400m placement and debt, with a share purchase plan, a possible hybrid and a Networks review. Resolves the Queensland tender.
27 Nov 2006flow test result▲ Good
Origin repeats the Eremia 6 test: 3,790 barrels of oil a day, no water, on a 1-inch choke. It is the third success after Jingemia 8 (3,520 bopd) and Hovea 12 (3,230 bopd). Origin holds 50%.
27 Nov 2006investor presentation● Neutral
Presentation on the Sun Retail acquisition: $1,202m for 833,000 customers ($916m), wholesale ($220m) and LPG ($66m). Margins are expected to match Origin's current retail margins of about 7%. Repeats the main announcement; the excerpt shows no new facts.
24 Nov 2006drilling spud● Neutral
Origin relays the start of Lyginia 1 (50%) in the Perth Basin: Dongara Sandstone target at about 2,215m, planned total depth about 2,325m, around 17 days. Duplicates ARC's release.
24 Nov 2006drilling spud● Neutral
ARC spudded Lyginia 1 (Origin 50%) in the Perth Basin L1 licence on 24 November. It targets the Dongara Sandstone, expected at about 2,215m, with total depth about 2,325m in roughly 17 days. First of the planned exploration wells.
22 Nov 2006asset acquisition disposition● Neutral
Envestra says Origin is taking up its distribution reinvestment plan, lifting its stake from 16.57% to about 17.2% and making it Envestra's largest shareholder. A small increase in an existing holding.
21 Nov 2006drilling progress report▲ Good
QGC's weekly report: Kenya #19 in PL 228 (Origin CSG 40.625%) spudded 17 November as the first of a ten-well program for the Incitec Pivot contract. It reached 667m with 24.6m of gassy coal and is being cleaned out before casing.
17 Nov 2006other● Neutral
Pure Energy Resources announces it has been granted Queensland coal seam gas permit ATP806P. It mentions that Origin mapped gas leads nearby that may extend into it. Origin has no stated interest, so no direct effect on it.
16 Nov 2006drilling result▲ Good
ARC re-releases Origin's 15 November Eremia 6 update: a 23m oil column in the Dongara Sandstone, with the well being cased for testing. Nothing new beyond the earlier releases.
15 Nov 2006drilling progress report● Neutral
Beach's weekly report lists Cooper Basin wells where Origin holds 25%: Yanda-23 was cased and suspended as a Murta oil producer. No new Origin-specific result; the other wells listed are not Origin's.
15 Nov 2006drilling result▲ Good
Origin repeats the Eremia 6 result: a 23m oil column in the Dongara Sandstone, 8m above the previous highest field intersection, in an area interpreted as undrained. Hole conditions blocked wireline logs; the well is being cased for testing.
