Origin Report ProgressASX Release 28 January 2005 Corybas 1 Gas...

Origin Report Progress

ASX Release 28 January 2005 Corybas 1 Gas Exploration Well Progress Report, Perth Basin, Western Australia Origin Energy Limited advises that drilling of the gas exploration well Corybas 1, operated by ARC Energy and located in the onshore Perth Basin Production Licence L2, at 06:00 hours WST 27 January 2005 was drilling ahead at 1276m. Surface casing, 244mm (9 5/8”), was set at 809m since the last report. The surface location is approximately 14 kilometres east northeast of the township of Dongara and 250 metres southeast of the Central Yardarino 1 well. The proposed total depth of the well is 2670 metres measured depth and it is expected to take 26 days to drill on a dry hole basis. Co-ordinates for the surface drilling location are as follows:- Latitude 29o 12’ 2.165” S
Longitude 115o 03’ 12.443” E Corybas 1 will evaluate the potential of the upper High Cliff Sandstone which was not penetrated in Central Yardarino 1 but forms the productive horizon in Hovea 2, where it flowed gas at 13.5 million cubic feet per day. The well will also provide information on the Irwin River Coal Measures known to be gas bearing in the area but generally of poor reservoir quality. Participants in L1 and L2 (excluding the Dongara, Mondarra and Yardarino fields) and Corybas 1 are: Arc Energy Limited (Operator) 50% Origin Energy Developments Pty Limited* 50% * a wholly owned subsidiary of Origin Energy Limited For further information contact: Rob Willink Executive General Manager - Exploration Phone: 07 3858 0676 Email: [email protected]