Origin Energy Ltd (ASX:ORG) has identified a potential pitfall in the $18 billion Australia Pacific LNG project, according to The Australian.
It’s reported that 19 per cent of proven and probable gas reserves could revert to the ownership of the US company that sold the reserves to Origin Queensland in 2002.
The potential of the rights returning to Tri-Star Petroleum could severely devalue the project and reduce the volume of gas reserves available.
In the six months to 31 December 2010, Origin Energy booked a net loss of $100 million.
