New Zealand: Origin Energy Provides Tarapunga-1 Exploration Well Drilling Update

Origin Energy advises that the Tarapunga-1 exploration well, that spudded on 5 November 2010, continues drilling operations as planned.

The well is being drilled vertically using the semi-submersible drilling rig Kan Tan IV which is being managed for Origin by Australian Drilling Associates (ADA). Drilling operations are expected to be completed next week.

Progress to date has seen the 12 ¼” hole section drilled to 790m RT and the 9 ⅝” casing shoe set at 786m RT.

At 06.00 hours NZDST on Thursday 11 November 2010 the current operation was drilling ahead at 793m RT in the 8½” hole.

About Origin Energy
Origin Energy is Australasia’s leading integrated energy company focused on gas and oil exploration and production, power generation and energy retailing.

Listed in the ASX top 20 the company has approximately 4,000 employees, is a leading producer of gas in eastern Australia, is the largest owner and developer of gas-fired electricity generation in Australia and is a leading wholesaler and retailer of energy. The company services more than 3.5 million electricity, natural gas and LPG customers across Australia, New Zealand and the Pacific. Origin’s strategic positioning and portfolio of assets provide flexibility, stability and significant opportunities for growth across the energy industry. Through Australia Pacific LNG, its 50:50 incorporated joint venture with ConocoPhillips, Origin is developing one of Australia’s largest CSG to LNG projects based on Australia’s largest CSG reserves base.

In New Zealand, Origin is the major shareholder in Contact Energy, the country’s leading integrated energy company, operating geothermal, thermal and hydro generation facilities and servicing electricity, gas and LPG customers across both the North and South islands. Origin also operates several oil and gas projects in New Zealand and is one of the largest holders of petroleum exploration acreage in the country.

Origin has a strong focus on ensuring the sustainability of its operations, is the largest green energy retailer in Australia and has significant investments in renewable energy technologies.

Tarapunga-1 is the 2nd of a two well exploration program in New Zealand Offshore Petroleum Exploration Permit area PEP 38619 in the Northern Taranaki/Northland Basin. It lies in about 110 metres of water approximately 40 km off the Waikato coast and 94 kilometres south-west of central Auckland. Origin Energy Resources NZ Ltd (wholly owned subsidiary of Origin Energy) is operator and has a 100% interest in PEP 38619.

Tarapunga-1 is a vertical well. The final surface location is:

Latitude (NZGD49): 37° 40’ 18” S

Longitude (NZGD49): 174° 15’ 51” E

Northing (NZMG): 6391824 m N

Easting (NZMG): 2621773 m E

Planned total depth of Tarapunga-1 is 990m RT. The primary objectives are Pliocene age sandstones of the Mangaa Formation.

About Origin Energy

Origin Energy is Australasia’s leading integrated energy company focused on gas and oil exploration and production, power generation and energy retailing.

Listed in the ASX top 20 the company has approximately 4,000 employees, is a leading producer of gas in eastern Australia, is the largest owner and developer of gas-fired electricity generation in Australia and is a leading wholesaler and retailer of energy. The company services more than 3.5 million electricity, natural gas and LPG customers across Australia, New Zealand and the Pacific. Origin’s strategic positioning and portfolio of assets provide flexibility, stability and significant opportunities for growth across the energy industry. Through Australia Pacific LNG, its 50:50 incorporated joint venture with ConocoPhillips, Origin is developing one of Australia’s largest CSG to LNG projects based on Australia’s largest CSG reserves base.

In New Zealand, Origin is the major shareholder in Contact Energy, the country’s leading integrated energy company, operating geothermal, thermal and hydro generation facilities and servicing electricity, gas and LPG customers across both the North and South islands. Origin also operates several oil and gas projects in New Zealand and is one of the largest holders of petroleum exploration acreage in the country.

Origin has a strong focus on ensuring the sustainability of its operations, is the largest green energy retailer in Australia and has significant investments in renewable energy technologies.

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Source: Origin Energy, November  11, 2010;