Significant New Oil Discovery Confirmed at Jingemi

Document date: Fri 25 Oct 2002 Published: Fri 25 Oct 2002 10:16:23
Document No: 278623 Document part: A
Market Flag: Y
Classification: Progress Report
ORIGIN ENERGY LIMITED 2002-10-25 ASX-SIGNAL-G

HOMEX - Sydney

+++++++++++++++++++++++++
Origin Energy Resources Limited*, as operator of Exploration Permit
413, provides the following update on the exploration well Jingemia
1, which at 0600 hours WST was preparing to run a velocity survey.

An analysis of the wireline logs and pressure measurements recorded
in the Jingemia 1 well confirms that the well has intersected 34
metres of Dongara Sandstone of which 32 metres is interpreted as
being of good to excellent reservoir quality. This overlies an
additional 43 metres of poorer quality Wagina Formation. Pressure
measurements have confirmed that a single oil column of at least 29
metres and possibly up to 33 metres is present in the well.

It has been agreed by the Joint Venture that the oil zone will now be
cased prior to drilling ahead to the secondary High Cliff Sandstone
target in 6 inch hole.

All depths cited above are measured depths along hole.

Participants in EP 413 and Jingemia 1 are as follows:

Origin Energy Developments Pty Limited* 49.189%
Hardman Oil and Gas Pty Ltd 22.376%
AWE (Perth Basin) Pty Ltd 15.245%
Victoria Petroleum NL 5.7685%
Voyager Energy Limited 5.7685%
Pancontinental Oil & Gas NL 1.278%
Alan Robert Burns 0.233%
John Kevin Geary 0.142%

* a wholly owned subsidiary of Origin Energy Limited


FOR FURTHER INFORMATION CONTACT:

Dr Rob Willink
General Manager - Exploration
Phone: 07 3858 0676
Email: [email protected]