Australian Stock Pick 8 April 2010
Origin Energy (ORG) is an integrated energy company and is involved in the exploration and production of oil and gas. It also is a retailer of electricity and natural gas.
ORG has advised that operations at its BassGas project in Victoria have resumed after the completion of maintenance work.
ORG and AWE Ltd (AWE) each own 42.5% of the project, and it is especially important for AWE that the project is fully operational given that it counts on the site’s gas for a significant part of its output.
ORG advised that the project will return to full completion after the retrieval of maintenance equipment from another well.
According to the Australian shares graph, Origin Australian share price displayed choppy action since late February and traded within the $16.50 to $17.00 range. Its shares closed down at $16.85 on April 8.