Origin Energy Commences Operations on Peterborough-1 Well

The Peterborough-1, a gas exploration well in the Otway Basin, onshore Victoria, spudded this week. Peterborough-1 is located approximately 8km to the southeast of the Naylor Gas Field and 40 km southeast of the city of Warnambool. The well will test the gas potential of an interpreted fault bounded closure at the Waarre Formation level. Its planned total depth is 2074 meters and the well is expected to take about 13 days to drill and evaluate.

Participants in the PEP 154 Joint Venture are Beach Petroleum Ltd with 10.00% and Origin Energy Resources Ltd as Operator with 90.00%.