Origin Energy Limited advises that at 12pm EST on 23 January, the 17 inch section of the Kupe South 8 (KS-8) well had reached a total depth of 2,184m MDRT (measured depth from rotary table) and the 13-3/8 inch casing run and cemented. Surface equipment is currently undergoing routine pressure testing and upon completion, the 12-1/4 inch section of KS-8 will be drilled and cased. This will be followed by drilling of the 12-1/4 inch sections of KS-7 and KS-6.

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Drilling began at 22:40 hrs on 19 December 2007. Progress of all three development wells in permit PML 38146 is summarised as follows:

22 inch 17 inch 12-1/4 inch 8-1/2 inch
KS-6 560m 2,000m  
KS-7 566m 2,000m  
KS-8 568m 2,184m  

Each of the three production wells will be drilled by the ENSCO 107 jack-up drilling rig to a vertical depth of approximately 3,400 metres.

The Kupe Project drilling campaign is being undertaken on a “batch-drilling” basis . This process involves completing the same section of each of the three wells before proceeding to the subsequent section and is a more efficient approach than drilling the wells separately.

Participants in the Kupe Gas Project are:  
Origin Energy Resources (Kupe) Limited* (Operator) 50%
Wholly owned subsidiaries of Genesis Energy 31%
New Zealand Oil & Gas Limited (through its subsidiaries:  
National Petroleum Ltd. 12.75%, Petroleum Equities Ltd. 1.25%  
and Nephrite Enterprises Ltd. 1.00%) 15%
Mitsui E&P Australia Pty Ltd 4%
*a wholly owned subsidiary of Origin Energy Limited  

For further information please contact:
Media – New Zealand:
Greta Shirley
+64 21 455 922

Angus Guthrie
Manager Investor Relations
Origin Energy
Tel: +61 2 8345 5558
Mobile : +61 417 864 255
Email: angus.guthrie@originenergy.com.au

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