Santos? Indonesian drilling update

Thursday, August 26 2004 - 03:32 PM WIB

The following is excerpt from Santos Limited?s Weekly Drilling Report for week ending August 26, 2004:

Delineation well (Near Field Exploration/Appraisal Well)Jeruk 2
TypeOil Appraisal
LocationOffshore Indonesia
Sampang PSC, East Java Basin.
1.6km E of Jeruk1, 35km WSW of the Oyong Field and some 40km SE of Surabaya.
Status at 0400hrs -- 26/08/04 (Jakarta Time)Running in the hole to drill ahead having set 340mm (13 3/8") intermediate casing.
The current depth is 3000m with no progress for the week.
Planned Total Depth 5300m
Interest Santos Group 50%
PT Medco Sampang 50%
Operator Santos Group
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