Origin Spies Hydrocarbons at Rockhopper 1 ST

Origin Energy, the operator of the T/18P joint venture, has provided an update on progress made at the Rockhopper 1 Sidetrack in the Bass Basin.

The Rockhopper 1 Sidetrack was drilled approximately 1.3 kilometers south of the successful Rockhopper 1 exploration well to appraise the extent of the hydrocarbon column. The well has confirmed the presence of hydrocarbons within the reservoir sequence, which was intersected between 40 to 60 meters downdip from Rockhopper 1. Sampling by the wireline probe has recovered crude oil in two sands to date and testing will continue using the wireline dual packer formation sampler.

The next steps will be for the joint venture to complete data gathering on the current well (estimated to take one week) and to then undertake a full volumetric assessment integrating the core, fluid and log data from the 3 recent wells with the previously drilled Aroo 1 and Trefoil 1 wells.

Results of this assessment will be used to determine any future appraisal program and potential development concepts for the fields. It is likely this process will take in the order of six months.

The success of the Trefoil and Rockhopper drilling program has significantly upgraded the oil and gas prospectivity of T/18P. In particular the adjacent Gentoo structure is highgraded due to similar observed seismic anomalies proven to be hydrocarbons in Rockhopper.

At the conclusion of Rockhopper sidetrack operation the drilling rig (Kan Tan IV) will be released as per the schedule, returning to the Bass Basin following the New Zealand drilling program. Subject to joint venture approval there may be an opportunity to drill a further appraisal well on the Rockhopper-Gentoo complex later in 2010. Production testing may be considered as part of the appraisal program.

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