Tarantula 1 Well Under Control

Origin Energy as Operator of Production License L11 located in the Perth Basin, Western Australia provides an update to its earlier announcements regarding the incident that occurred at the drilling location of the exploration well Tarantula 1 on the morning of Thursday June 10, 2004.

The program of work to regain control of the well has been successful with the well being capped on the afternoon of June 23, 2004. The well is no longer flowing from the drill pipe. It is expected that the well control specialists and emergency support personnel will be released from the site over the coming days.

Activities are now continuing in order to evaluate the downhole condition of the well. Following this, a decision on the need to cement the hole will be made and over the next few weeks development options for the well and field will be considered.