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 * What is the sum of 19 + 14 ?

PML 38146 Exploration Well - Momoho 1(Offshore Taranaki Basin, New Zealand)

ASX/Media Releases

31 Jul 2008

Untitled Document

Origin Energy Resources (Kupe) Limited, on behalf of the Kupe Joint Venture, advises that at 12.00pm EST on 30 July the rig was waiting for appropriate weather conditions to set the final surface cement plug and conduct a seabed survey, prior to jacking down and moving off location. A suitable window is expected early next week.

Drilling began on 13 June 2008 and progress to date is summarised as follows:

  36 inch 22 inch 17 inch 12-1/4 inch 8-1/2 inch
Planned 170.5m 550m 1,830m 2,855m 3,142.5m
Actual 180m 561m 1,845m 2,898m 3,145m
*Depths are cumulative and show total well depth measured below the rotary table (MDRT).

Partners in the Kupe permit PML38146 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. 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:
Rory Newsam
Tel: +64 460 2386
Mobile: +64 27 295 3809

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