Corybas 1 Drilling Ahead

Origin Energy Limited says good gas shows were encountered over the core 3 interval in sands described from preliminary investigation of the core as having poor to good visible porosity. This zone and remaining intervals in the well will be evaluated by wireline log and pressure information after the well has been drilled to total depth, after which decisions on further testing or evaluation will be made.

The significance of the shows in the High Cliff Sandstone and of other sands both tested and untested in the Irwin River Coal Measures will become more apparent following this ongoing evaluation. Whilst results to date are encouraging, at this time it is not possible to form a view on the reserves potential of the Corybas region.

Participants in L1 and L2 (excluding the Dongara, Mondarra and Yardarino fields) and Corybas 1 are ARC Energy as operator with 50% and Origin Energy with the remaining 50%.