ODIN ENERGY LIMITED Audio Webcast

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ODIN ENERGY LIMITED (ODN)

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ODIN ENERGY LIMITED (ODN) Events

Company (Stock Code)	Date/Time	Event	Timezone: Australia/NSW
ODIN ENERGY LIMITED (ODN) Farm-In Agreement to Prime Cooper Basin Acreage	Fri, 1 Aug 2008 04:15PM	ODN - Completion of Farm-In Agreement - Mr Alex Bajada, Chairman
ODIN ENERGY LIMITED (ODN) ANZ Nominees No Longer Substantial Holder	Mon, 26 May 2008 02:30PM	ODN - Release from Escrow - Mr Alex Bajada, Chairman
ODIN ENERGY LIMITED (ODN)	Thu, 1 May 2008 12:45PM	ODN - March 2008 Quarterly Report - Mr Alex Bajada, Chairman
ODIN ENERGY LIMITED (ODN)	Fri, 28 Mar 2008 02:30PM	ODN - VPE: Changes to Board 27 March 2008 - Mr Alex Bajada, Chairman
ODIN ENERGY LIMITED (ODN)	Mon, 17 Mar 2008 02:30PM	ODN - Queensland Gas becomes 2nd Largest Shareholder in VicPet after Odin - Mr Alex Bajada, Chairman
ODIN ENERGY LIMITED (ODN)	Tue, 11 Mar 2008 09:30AM	ODN - Odin's Vision for VicPet - Mr Alex Bajada, Chairman
ODIN ENERGY LIMITED (ODN)	Thu, 20 Nov 2008 08:00PM 08:00PM Australia/WA	Annual General Meeting Suite 2, 16 Ord St, West Perth, WA
ODIN ENERGY LIMITED (ODN)	Wed, 1 Oct 2008	Full Year Results
ODIN ENERGY LIMITED (ODN)	Fri, 14 Mar 2008	Interim Results
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ODIN ENERGY LIMITED (ODN)

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INTERVIEW WITH ALEX BAJADA, CHAIRMAN OF ODIN ENERGY LIMITED (ODN)

“Farm-In Agreement to Prime Cooper Basin Acreage”

http://www.brr.com.au/event/48895

 

FRIDAY, AUGUST 1, 2008, 4:15 PM.

 

            BRR    Today, we are speaking with Mr. Alex Bajada, Chairman of Odin Energy. Thanks for joining us today, Alex.

            ODN    Thanks, Eddie.

10

            BRR    Alex, today you have released your announcement that you have completed your farm-in agreement to extend your interest in the Cooper Basin in South Australia. Can you please give our listeners just some details as what that entails for Odin Energy?

15        ODN    Thanks, Eddie. The Board of Odin is very, very excited about this. We have been negotiating this position for quite some time. We believe that this is one of the most prospective areas there in the Cooper Basin. What is, I suppose, very exciting for the shareholders is that we will start drilling there over the next few months. The targets that we have, we believe, we have got the

20                    potential of probably getting 20 Bcf of gas there, which for anyone who understands that area of the market, that would be an exciting fund for us. What is really interesting is that there have been extensive seismic surveys there in that area, and with the two wells that we are proposing to drill there, we end up earning a 75% interest, and by any standard, that is a great

25                    opportunity. It is typical really of the oil and gas sector in that if you do get success, then the rewards are extensive and really, really worthwhile. So the joint ventures really in that particular area include VicPet, Impress and Roma. So we are very, very happy about actually having finally signed off that agreement and we are very, very keen to get started so it comes down to

30                    availability of rigs and having personnel available, and as soon as we can get into it, we will certainly be doing that. Just on another point there, I was in London just over three weeks ago and negotiating with a number of funds that were very keen to back us in taking on this project so. We have been working hard at it and so we are really set to go.

35

            BRR    You also released your quarterly report. What has been happening at Odin Energy over the last quarter that you can let our listeners know?

            ODN    I guess it is reasonably straightforward in that everyone would be aware that we are a major shareholder in Victoria Petroleum. Anthony Short and I both

40                    sit on the Board of VicPet, and obviously, a lot of our energies have been thrown in that regard into trying to help the Company to grow and throw in, I guess, our input into how we believe that VicPet could, I suppose, improve its position in the marketplace. The market obviously is going against us to a degree, although you would recall and shareholders would recall we had a

45                    big kick-up in the share price of VicPet which is already around the coal seam gas assets. But the good thing about VicPet and the reason why we took a strong position in the Company is that it has a wide range of assets and we see a lot of upward potential in the Company. So obviously, everything that we do in helping VicPet to grow in value is a value to Odin shareholders because we have such a significant shareholding in the Company. So that is all pretty exciting from our point of view.

 

                        Our other area of interest as people would be aware really is in terms of our

5                      joint venture with Blue Energy and Great Artesian. We are very, very keen to look at the prospects that we have in there. The 3D seismic survey that was completed quite some time ago, a lot of energy and time has gone into evaluating the data that has come out of that. There is still a lot work to be done and what we have been really working on there is to try to negotiate a

10                    position where we could see the best expenditure of dollars in the ground. I am hoping that over the next month or so that we may come to a position where we will have some targets there that the joint venture could proceed with.

 

15                    Other than that, the underlying ambition that we have had at Odin Energy has been really for consolidation of companies and assets in the Cooper Basin. We have been saying this all along that that is our overall view. Part of what we have been doing is really assessing opportunities really in looking at some of the companies that perhaps are not doing a lot of work there in the Cooper

20                    Basin but have assets there. We are just assessing where we might look at our next target or where we would take up a significant piece in some of these companies. We have got sufficient support out of our shareholder basin and institutions that we have been dealing with, so we are certainly working continuously in identifying targets that we would like to merge or amalgamate

25                    with. We are not sitting still here. There are a lot of tasks that are yet to be completed and the market will be kept apprised of our progress in that area.

 

            BRR    Thank you very much for that overview, Alex, and thank you for your time today. We look forward to hearing from you soon about Odin Energy.

30        ODN    Thank you very much, Eddie.

 

            BRR    That was Mr. Alex Bajada, Chairman of Odin Energy. If you have any questions about this broadcast or any other broadcast, please feel free to contact us on brr@brr.com.au. I am Eddie (inaudible) (0:06:38) and thank you

35                    for listening to Boardroom Radio.

 

INTERVIEW CONCLUDED

 

 

 

 

Contact brr@brr.com.au for more information

 

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