Origin to Farm-in to 2 Unconventional Gas Blocks in Cooper-Eromanga Basin

“We are pleased to be working with Senex Energy given its proven track record operating in one of Australia’s largest onshore hydrocarbon provinces,” Zealand said.

The agreements are subject to certain approvals including registration of interests.

*Origin’s interest in Area B covers the Permian section and all underlying strata only.

Transaction Details

The following table summarises Origin’s contribution and interest earned under the farm-ins.

Area A

  • Farm-out areas: 1,031 square kilometers (255,000 acres)
  • Origin contribution to Stage 1 work program: $58 million (AUD 65 million)
  • Participating interest earned by Origin: 40 percent
  • Origin contribution to optional Stage 2 work program: $35 million (AUD 40 million)
  • Participating interest earned by Origin: 10 percent
  • Total Participating interest at the end of optional Stage 2: 50 percent
  • Total Origin contribution to work programs: $94 million (AUD 105 million)

Area B

  • Farm-out areas: 904 square kilometers (223,000 acres) (Deeps only)
  • Origin contribution to Stage 1 work program: $28 million (AUD 32 million)
  • Participating interest earned by Origin: 30 percent
  • Origin contribution to optional Stage 2 work program: $28 million (AUD 32 million)
  • Participating interest earned by Origin: 10 percent
  • Total Participating interest at the end of optional Stage 2: 40 percent
  • Total Origin contribution to work programs: $57 million (AUD 64 million)

Total


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