Origin

BassGas Project – Operator Update

ASX/Media Releases

19 Nov 2008

Origin Energy Resources Ltd (“Origin”) as Operator of the BassGas Joint Venture advises that production is currently reduced to around one-third of normal levels due to the Yolla-4 well being shut in following the automatic hydraulic closure of a sub-surface valve.

Origin is currently investigating options for the rectification of this issue and expects production to return to normal operating levels by the end of December 2008.  A similar issue with the Yolla-3 well was successfully resolved in January 2008.

A further update will be provided once production rates return to normal.

Project participants are:

Origin Energy Resources Limited¹ 37.5% (Operator)
Origin Energy Northwest Limited¹ 5.0%
AWE Petroleum Pty Ltd² 30.0%
ARC (BassGas) Pty Ltd² 12.5%
CalEnergy Gas(Australia) Limited 15.0%

For further information please contact:

Media
Michelle Hindson
Acting General Manager, Corporate Communications
Ph: 02 8345 5217
Mobile: 0414 207 049

Investors
Angus Guthrie
Manager Investor Relations
Ph: 02 8345 5558
Mobile: 0417 864 255

¹A wholly owned subsidiary of Origin Energy Limited
²A wholly owned subsidiary of Australian Worldwide Exploration Limited

About Origin Energy
Origin Energy is Australasia’s leading integrated energy company focused on gas and oil exploration and production, power generation and energy retailing. Listed in the ASX top 20 the company has around 4,000 employees, is a leading producer of gas in eastern Australia, is the largest owner and developer of gas fired electricity generation in Australia and is a leading wholesaler and retailer of energy, servicing more than three million electricity, natural gas and LPG customers across Australia and the Pacific. Origin’s strategic positioning and portfolio of assets provide flexibility, stability and significant opportunities for growth in the ever changing energy industry. Through Australia Pacific LNG, its 50:50 joint venture with ConocoPhillips, Origin intends to develop Australia’s largest CSG reserves base into Australia’s largest CSG to LNG project. Origin is also the major shareholder in Contact Energy of New Zealand. The company has investments in renewable energy and a strong focus on ensuring the sustainability of its operations. In 2007 the company, which is Australia’s largest green energy retailer, received the Ethical Investor 2007 Sustainable Company of the Year award. For more information go to www.originenergy.com.au