Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Dec 2020farm in farm out agreement▲ Good
Buru Energy's side of the Canning Basin farm-out: Origin earns 50% in Buru's five exploration permits by funding a work program, including carry of $16m for the Rafael 1 and Kurrajong 1 wells in 2021. Yulleroo gasfield excluded; Buru stays operator.
21 Dec 2020farm in farm out agreement▲ GoodMajor
Origin farms into seven Canning Basin permits (20,000 km2): 50% in five with Buru, 40% in two with Buru and Rey, carrying $12.3m of partners' costs. Expected Origin spend about $35m over two years, with options for a further $10.6m. A third onshore basin alongside Beetaloo and Cooper-Eromanga.
21 Dec 2020farm in farm out agreement● Neutral
Rey Resources' side of the Canning Basin deal: binding letter agreement farming out a 40% interest in EP457 and EP458 to Origin, with Buru and Rey each keeping 20%. If no formal agreement by 31 March 2021, Origin pays $3m on completion.
7 Apr 2020farm in farm out agreement▲ GoodMajor
Origin raises its Beetaloo interest by 7.5% to 77.5% by increasing its carry of Falcon's costs from $34m to $59m, and gains more control as operator. COVID-19 pause delays Kyalla 117 stimulation and testing to H1 FY2021. Supersedes the earlier planned Sasol route to 70% (inference).
8 Feb 2018resource reserve update▼ BadMajor
Origin expects $533m of post-tax non-cash impairments for 1H FY18: $360m on Ironbark after 2P reserves fall from 249 to 129 PJe, plus $173m on Lattice. Ironbark moves to a staged plan targeting first gas in FY2021. Confirms the Lattice charge flagged earlier.
10 Jan 2018drilling progress report▲ Good
Beach's December report: Cooper Basin SA JV (Origin 13.19%) completed the McKinlay oil campaign (McKinlay-13, -14, -16, -17 cased as producers) and Namur campaign (Namur-9 with 53m gas pay, Namur-10 with 61.5m). Beach-only wells include the Largs-1 DW1 discovery. Origin's Cooper interest goes to Beach on Lattice completion.
19 Dec 2017resource reserve update▲ GoodMajor
AWE lifts Waitsia gross 2P reserves 80% to 820 PJ (Origin's 50% share 410 PJ), with 2P plus 2C of 910 PJ. It cites Waitsia-4 testing at 90 MMscf/d. Confirms the earlier RISC review; the asset passes to Beach on Lattice completion.
6 Dec 2017drilling progress report▲ Good
Beach's November report shows Cooper Basin SA JV (Origin 13.19%) wells cased as future producers: McKinlay-12 and -15, Odonata-2 (6.7m oil pay), Namur-8 (61m gas pay), Namur-7 (23m). Namur-9 was drilling. A McKinlay horizontal oil campaign has begun. Beach's own wells are not Origin's.
14 Nov 2017resource reserve update▲ GoodMajor
An independent RISC review lifts Waitsia gross 2P reserves 78% to 811 PJ (3P 1,220 PJ), versus AWE's 30 June 2017 figure. Origin holds 50% via Lattice, being sold to Beach. Delivers the reserves upgrade expected in 1H FY18; AWE targets a Stage 2 FID by end 2017, subject to gas sales agreements.
1 Nov 2017drilling progress report● Neutral
Beach's October report: Cooper JV wells cased as producers include Merrimelia-66 (SA JV, Origin 13.19%) and Costa-2 (Qld JV, Origin 16.74%, a low-side outcome so two remaining wells dropped). Namur-5 found 6.5m net gas pay. Beach's own wells are not Origin's.
4 Oct 2017drilling progress report● Neutral
Beach's September report shows Cooper Basin JV wells cased as future producers: Merrimelia-63 (1.2m net oil pay) and -65 (7.7m), SA JV Origin 13.19%; Roti-5 and Roti-6 gas wells, Qld JV Origin 16.74%. Follows earlier Roti-5 and Merrimelia-63 drilling. Other wells are Beach's.
6 Sept 2017drilling progress report▲ Good
Beach's August report shows Cooper Basin JV wells cased as producers: Jack Lake-6 and -7 (SA JV, Origin 13.19%, about 40m and 54m net gas pay). Roti-5 (Qld JV, Origin 16.74%) was drilling at 515m, and Merrimelia-63 (SA JV) drilling at 1,280m. Other wells are not Origin's.
22 Aug 2017drilling result▲ GoodMajor
AWE says Waitsia-4 (Origin 50%) found 21m of net gas pay in the Kingia, with reservoir quality similar to Waitsia-3 and better than expected. It is cased for production, and no more appraisal drilling is needed before FID. A flow test of Waitsia-2, -3 and -4 is planned early Q4 2017, with a reserves upgrade expected in 1H FY18.
11 Aug 2017drilling result▲ Good
AWE reports Waitsia-4 (Origin 50%) reached total depth of 3,744m on 10 August, intersecting all primary targets with elevated gas shows in the Kingia and High Cliff. Wireline logging comes next, so reservoir quality and reserves are still unconfirmed.
7 Aug 2017drilling progress report▲ Good
Waitsia-4 (Origin 50%) was at 3,486m and has intersected the Kingia, with good gas shows. It is drilling toward the High Cliff Sandstone, and logs are needed to confirm reservoir quality. No reserves or flow result yet.
2 Aug 2017drilling progress report▲ Good
Beach's July report covers Cooper JV wells. In the Queensland JV (Origin 16.74%), Okotoko North-1 is a new gas field discovery with about 8m net gas pay, cased as a producer, completing the six-well campaign. Origin's share in the SA JV (13.19%) includes Koree South-2, with no result shown.
31 July 2017drilling progress report● Neutral
Waitsia-4 (Origin 50%) reached the 3,054m section depth and is preparing to run 9 5/8 inch casing. No result yet.
24 July 2017drilling progress report● Neutral
Waitsia-4 (Origin 50%) was at 2,595m, drilling ahead to the next section depth of 3,065m. No result yet.
17 July 2017drilling progress report● Neutral
Waitsia-4 (Origin 50%) was at 1,512m after surface casing was set at 1,166m, drilling ahead toward a planned 3,834m. No result yet.
10 July 2017drilling spud▲ GoodMajor
AWE spudded Waitsia-4 on 9 July (Origin 50%), planned to 3,834m over about five weeks. It is the last appraisal well before the Stage 2 FID. AWE says Waitsia-3 and -4 data should support a 2P reserves upgrade before end 2017.
5 July 2017drilling progress report● Neutral
Beach's June report covers Cooper JV wells. In the Queensland JV (Origin 16.74%), Cougar-1 was plugged and abandoned and Snefru-1 was cased as a producer with about 3m net gas pay. In the SA JV (Origin 13.19%), Dullingari-42 DW1 found about 62m net gas pay.
5 July 2017drilling progress report● Neutral
Senex's June report confirms Silver Star-1 DW1 reached 4,969m with a 1,180m horizontal section, but casing was damaged when unstable coals collapsed and the well is suspended. Further drilling, frac and testing are planned in FY18. Other wells listed are not Origin's.
20 June 2017drilling result▲ Good
Waitsia-3 (Origin 50%) reached total depth of 3,612m, hitting basement 105m high to prognosis. All primary and secondary targets were intersected with elevated gas shows in the Kingia and High Cliff. Wireline logging comes next, so reserves and flow results are still pending.
19 June 2017drilling result▼ BadMajor
Silver Star-1 DW-1 (Origin 33.75%): while running production casing, unstable coals in the 1,180m horizontal section collapsed and damaged it. The well is suspended pending replacement casing. The JV still plans frac and testing in first half FY18; weekly reporting is paused.
19 June 2017drilling progress report▲ Good
Waitsia-3 (Origin 50%) was at 3,578m heading to 3,706m. All primary and secondary targets intersected, with elevated gas shows in the Kingia and High Cliff. Three cores cut and sent for analysis. Log evaluation is still needed, so no reserves result yet.
14 June 2017drilling progress report● Neutral
Planet Gas confirms the Silver Star-1 lateral was drilled to 1,180m with gas saturation in line with expectations, and production casing is being set. Fracture stimulation and testing follow, so no flow result yet.
13 June 2017drilling progress report● Neutral
Waitsia-3 (Origin 50%) intersected the Kingia formation on depth prognosis at 3,211m. Coring is under way, with cores sent for analysis. Drilling continues to 3,706m. No flow or reserves result yet.
7 June 2017drilling result● Neutral
Senex says Silver Star-1 DW1 reached 4,969m on 1 June with a 1,180m horizontal section in the Patchawarra. Gas saturation was in line with expectations. Fracture stimulation and testing are expected in early FY18, so flow results are still pending.
7 June 2017drilling progress report● Neutral
Beach's May report covers Cooper JV wells. In the South Australian JV (Origin 13.19%), Dullingari-43 DW1 found about 25m net gas pay and was cased as a producer. In the Queensland JV (Origin 16.74%), Lepard-3 was cased as a producer with a low-side outcome.
5 June 2017drilling progress report● Neutral
Waitsia-3 (Origin 50%) was at 2,782m on 5 June, with intermediate casing set and drilling ahead toward the Kingia and High Cliff targets. Planned depth is 3,706m. No result yet.
