Release: Oceanic exploration files suit against ConocoPhillips and commercial authorities established by the governments of Australia, Indonesia and East Timor

WASHINGTON--March 1, 2004--Oceanic Exploration Company and its subsidiary Petrotimor Companhia de Petroleos, S.A.R.L. have filed a lawsuit, including charges of Civil RICO and antitrust violations, against ConocoPhillips and commercial authorities established by the governments of Australia, Indonesia and East Timor.

Filed in the United States District Court for the District of Columbia at 9:00 a.m., Monday, March 1, 2004, the 100-page complaint addresses allegations of theft, conversion and bribery pertaining to Oceanic's oil and gas rights in the East Timor Sea. Damages claimed are $10.5 billion, which would be trebled under the involved statutes.

The complaint must be obtained through the District Court's online service at http://www.dcd.uscourts.gov/instant-Pacer-reg.pdf. If the news organization does not already have a subscription, interested media may register through https://ecf.dcd.uscourts.gov/cgi-bin/login.pl where an access fee will be charged.

Contact:

U.S. PR contact:

Casey Sayre & Williams

Tracy Williams/Jeremy Morgan, 310-396-2400

twilliams@cswpr.com

jmorgan@cswpr.com

or

Australia PR contact:

Cosway Australia Communications Counsel

Mark Rudder, 61 2 9929 8344

markr@coswaypr.com.au