Origin Shuts-In Production at BassGas JV's Yolla-4

Origin Energy as Operator of the BassGas Joint Venture has advised that production is currently reduced to around one-third of normal levels due to the Yolla-4 well being shut-in following the automatic hydraulic closure of a sub-surface valve.

Origin is currently investigating options for the rectification of this issue and expects production to return to normal operating levels by the end of December 2008. A similar issue with the Yolla-3 well was successfully resolved in January 2008.

A further update will be provided once production rates return to normal.

Project participants are:

  • Origin Energy Resources Limited (1) 37.5% (Operator)
  • Origin Energy Northwest Limited (1) 5.0%
  • AWE Petroleum Pty Ltd (2) 30.0%
  • ARC (BassGas) Pty Ltd (2) 12.5%
  • CalEnergy Gas (Australia) Limited 15.0%

(1) a wholly owned subsidiary of Origin Energy Limited

(2) a wholly owned subsidiary of Australian Worldwide Exploration Limited