Santos? Indonesian drilling update

Thursday, January 29 2004 - 05:07 AM WIB

The following is excerpt from Santos Limited?s Weekly Drilling Report for week ending January 29, 2004:

Wildcat Exploration WellsJeruk 1
Type Exploration
Location Offshore Indonesia
Sampang PSC, East Java Basin.
35km WSW of the Oyong Field and some 40km SE of Surabaya.
Status at 1500hrs -- 28/01/04 (Jakarta Time)Circulating and conditioning well. The current depth is 4690m with no progress for the week.
Planned Total Depth 5172m
Interest Santos Group 50%
PT Medco Sampang 50%
Operator Santos Group
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