Origin Energy Carrying Out Seismic Surveys in Northland Permits

Origin Energy plans to carry out large seismic surveys of its two offshore Northland exploration permits over the next three months.

The two permits PEP 38618 and PEP 38619 lie at the southern part of the basin and run southward off from Auckland. Origin Energy is operator and holds a 50% interest in the two permits with joint venture partner OMV.

Rob Willink, Origin Energy's executive general manager for exploration, said Origin planned to shoot about 3250 km of 2D seismic for its Pantheon survey from December for PEP 38619 which lies nearest to the coast. This will be followed by about 250 sq km of 3D seismic in the Nimitz survey.

In January-February a further 1500km of 2D seismic will be acquired in the PEP 38618 further from shore in the Akira survey.

The work programs for the permits call for an exploration well in each permit within the first three years. Both permits were issued in May 2006.

Origin Energy said in its latest quarterly report to September 30, that the offshore Taranaki PEP 38485 Kora permit in which Origin has a joint third interest (along with partners OMV, the operator, and Todd Energy), that processing of the 700 sq km Kora 3D seismic survey and the Moana 2D seismic survey was nearly complete.

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