Origin Energy as Operator of the BassGas Joint Venture has advised that production is currently reduced to around one-third of normal levels due to the Yolla-4 well being shut-in following the automatic hydraulic closure of a sub-surface valve.
Origin is currently investigating options for the rectification of this issue and expects production to return to normal operating levels by the end of December 2008. A similar issue with the Yolla-3 well was successfully resolved in January 2008.
A further update will be provided once production rates return to normal.
Project participants are:
(1) a wholly owned subsidiary of Origin Energy Limited
(2) a wholly owned subsidiary of Australian Worldwide Exploration Limited
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