Origin Energy advised that the Tarapunga-1 exploration well, that spudded on November 5, 2010, continues drilling operations as planned. The well is being drilled vertically using the semi-submersible drilling rig Kan Tan IV which is being managed for Origin by Australian Drilling Associates (ADA). Drilling operations are expected to be completed next week.

Progress to date has seen the 12 ¼" hole section drilled to 790m RT and the 9 " casing shoe set at 786m RT.

At 06.00 hours NZDST on Thursday 11 November 2010 the current operation was drilling ahead at 793m RT in the 8½" hole.

Well type and location Tarapunga-1 is the 2nd of a two well exploration program in New Zealand Offshore Petroleum Exploration Permit area PEP 38619 in the Northern Taranaki/Northland Basin. It lies in about 110 meters of water approximately 40 km off the Waikato coast and 94 kilometers south-west of central Auckland. Origin Energy Resources NZ Ltd (wholly owned subsidiary of Origin Energy) is operator and has a 100% interest in PEP 38619.

Tarapunga-1 is a vertical well. The final surface location is:

•Latitude (NZGD49): 37° 40' 18" S •Longitude (NZGD49): 174° 15' 51" E •Northing (NZMG): 6391824 m N •Easting (NZMG): 2621773 m E Planned total depth of Tarapunga-1 is 990m RT. The primary objectives are Pliocene age sandstones of the Mangaa Formation.

Tags: Origin Energy