Origin Energy, on behalf of the L11 Joint Venture parties, advised that the Weatherford drilling rig 826 is currently moving onto location in preparation for the drilling of the Redback South 1 exploration well. This well will be drilled as a sidetrack from the Redback 1 wellbore. Redback 1 was drilled in 2004 and subsequently cased and suspended.

At 0830 hours Western Standard Time today, rigging up was continuing.

Well Type and Location Gas exploration well, Redback South prospect, North Perth Basin, Western Australia (L11/EP 320).

Redback South 1 is being drilled as a directional well to intersect the reservoir interval approximately 570 meters SSE of the Redback 1 location at a vertical depth of 3,685 meters sub-sea. The major fault compartment being targeted by this well is on the downthrown side of a fault immediately south of the Redback 1 well, with closure independent of the Redback 1 structure.

Tags: Origin Energy