PRESS DIGEST-Australian Business News - April 20

Compiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy.

THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)

Partners in ExxonMobil's (XOM.N) liquefied natural gas project in Papua New Guinea anticipate the finalisation of a US$11 billion (A$15 billion) financing package by July. Export credit agencies (ECAs) are expected to offer a majority of the funding, and an industry source said "we wouldn't anticipate we would require a huge amount from commercial banks because the ECAs seem to have a lot of money available.' ExxonMobil has a 41.5 percent stake, with oil and gas explorers Oil Search with 34 percent and Santos with 17.7 percent. Page 13.

- - - -

Energy provider Origin Energy (ORG.AX) says that contrary to reports it's A$35 billion liquefied natural gas project in Queensland remains on schedule. Late last week Citigroup analysts cited "the realities of today's economic environment' would the most likely lead to a three-year to five-year delay on the project. But a spokesperson for Origin insisted yesterday that the company's plan to have its first processing line in operation by 2014 remains "on track.' Page 14.

- - - -

Analysts believe that at today's annual general meeting the chairman of Indophil Resources (IRN.AX) will face pressure from shareholders over last year's two failed takeover bids for the company. Major shareholder Lion Selection has demanded that chairman Brian Phillips address a series of questions in relation to governance, performance and transparency. "Indophil's share price has fallen by approximately 80 percent since two cash bids were made for the company,' said Lion's managing director, Robin Widdup. Page 14.

- - - -

THE AUSTRALIAN (www.theaustralian.news.com.au)