Origin Energy, on behalf of the L11 Joint Venture, advised that the Weatherford drilling rig 826 is currently drilling the Redback 2 exploration well. This well is being drilled from the same surface location as Redback 1, drilled in 2004.

The target Wagina reservoir was intersected at a depth of 3,861m MDRT# (3,664 meters sub-sea). An initial analysis of log data acquired while drilling indicates the reservoir unit is approximately 14 meters thick and gas charged. These initial results are an encouraging indication of the presence of gas in the structure; however, it is too early to make any comment on the potential size or commercial significance of this accumulation.

At 06.00 hours Western Standard Time the well had reached a depth of 3,907m MDRT#. Progress for the week was 99 meters.

Well type and location Onshore gas exploration well, Perth Basin, Western Australia (L11 / EP 320).

Redback 2 is being drilled as a directional well to intersect the target Wagina reservoir at a subsurface location 380 meters NNW of Redback 1 at a prognoses vertical depth of 3,715 meters sub-sea.

•Surface location ◦Latitude: 29° 27' 27.34" S ◦Longitude: 115° 09’ 41.77" E •Target location ◦Latitude: 29° 27' 15.15" S ◦Longitude: 115° 09' 40.33" E •Participating Interests ◦Origin Energy Developments 67.00% ◦AWE Limited 33.00%

Tags: Origin Energy