Bass Basin Production

Yolla Field (ARC 12.5% Origin Operator)

First discovered

1985

Production commenced

May 2006

Production to 31 August 07

19,673 TJ Gas, 947,186 bbls Condensate, 48,564 tonnes LPG

Average daily production as at 30 September 07

60 MMcf Gas, 3,000 bbls Condensate, 200 tonnes LPG

The Yolla field had initial 2P reserves in excess of 300PJ of gas.

The field is operated by Origin Energy and all produced gas is currently sold to Origin under a 13-year take or pay contract, with any excess gas able to be sold to third parties. This provides the project with stable, long-term cash flows. Condensate and LPG are sold on a spot basis.

The production facilities include an offshore production platform, a pipeline to the Lang Lang gas processing plant south-east of Melbourne, and an interconnection to the East Coast natural gas grid near Pakenham. Condensate and LPG are trucked to a Geelong oil refinery and local markets respectively.