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THE YOLLA PROJECT UPDATE The Yolla Stage 2 project involved drilling two additional wells; Yolla-5 and Yolla-6. The wells will be incorporated into free slots in the Yolla platform with connecting flowlines. The drilling of additional wells will extend the Yolla gas production rates to continue to meet the gas demands in south east Australia. The West Telesto Mobile Offshore Drilling Unit in Western Port Bay The West Telesto Mobile Offshore Drilling Unit is expected to return to Western Port Bay on or around Sunday 9th August (subject to favourable weather and operating conditions) following the completion of drilling operations at the Yolla platform. The West Telesto is returning to Western Port Bay to load essential equipment, restock with fresh supplies and change crew before heading to its next job for Carnarvon Hibiscus Pty Ltd (“CHPL”) at VIC/P57 off the coast of East Gippsland. The West Telesto will not be performing any drilling operations in Western Port Bay and there will be a 100 metre safety exclusion zone whilst the rig is in Western Port. Origin will communicate with the Australian Marine Safety Authority (AMSA) to ensure that shipping and marine operators are notified of the proposed works and the associated safety exclusion zone. Broadly, the steps involved for the West Telesto arriving and departing Western Port Bay are: • The rig will be towed into Western Port Bay, where it will follow designated shipping channels, and all directions from the Harbour Master. • The rig will be moved into position at its final set location (38°26.398’S, 145°17.422’E), with the assistance of up to three tow vessels. • The rig will remain in port for approximately 5 days while essential equipment is loaded and personnel board. • On arrival and during the short time required to load up personnel and goods the rig may be visible from parts of Phillip Island and the northern and western shores of Western Port Bay. • The rig will then be towed out of Western Port Bay and onto location at VIC/P57 with up to three tow vessels. The Yolla gas field is located in the Bass Strait approximately 145 km from Kilcunda on Victoria’s south east coast and 120 km from the coast of Tasmania. The Yolla project is one component of the broader BassGas joint venture. Origin is the operating partner of the venture which also includes AWE Limited, Prize Petroleum and Toyota Tsusho Gas E&P Trefoil Pty Ltd¹. 1. Origin Energy 42.50%, AWE Energy 35% (via subsidiaries), Toyota Tsusho Gas E&P Trefoil 11.25%, and Prize Petroleum International 11.25% ownership July 2015
