Jingemia 4 Logs Pay

Origin Energy Limited advises that the drilling of the oil development/appraisal well Jingemia 4 located in the onshore Perth Basin Exploration Permit 413 in Australia, reached a total depth of 2,522 meters on May 9, 2004. Preparations are currently underway to complete the well.

The Jingemia 4 well is being drilled from a surface location approximately 350 meters east northeast of the Jingemia Production Facility and has been located to intersect the Dongara Sandstone oil reservoir at a near crestal location. The aim of the well is to provide a second production offtake point at the Dongara Sandstone level and to appraise the reservoir potential of the immediately underlying Wagina Formation, which is interpreted to be above the field oil water contact at the Jingemia 4 location.

Three cores were successfully cut through the entire Dongara Sandstone and Wagina Formation section, with 100% recovery. Preliminary interpretation of the cores, wireline logs and wireline pressure measurements indicate that Jingemia 4 has intersected the Dongara Sandstone 16.5 meters updip of Jingemia 1. Approximately 29 meters of oil saturated Dongara Sandstone, with good to excellent reservoir characteristics and no gas cap is interpreted in the well. The underlying Wagina Formation contains only minor fluorescence and is considered likely to possess low permeability, potentially forming a basal seal to the oil column.

The well spudded on April 23, 2004 and is located approximately 24 kilometers south of the township of Dongara and 325 meters east north east of the Jingemia oil production facility.

Participants in EP 413 and Jingemia 4 are:

Origin Energy Developments Pty Limited (Operator) 49.189%
Hardman Oil and Gas Pty Ltd** 22.376%
ARC Energy Limited** 15.495%
Voyager (PB) Limited** 6.270%
Victoria Petroleum Offshore Pty Ltd 5.000%
Norwest Energy NL 1.278%
Roc Oil (WA) Pty Limited 0.250%
John Kevin Geary 0.142%
** ARC, Hardman and Voyager have entered into a number of Agreements that will ultimately result in ARC and Voyager's participating interest being 33.141% and 11.0% respectively.