Santos? Indonesian drilling update

Thursday, September 23 2004 - 06:05 AM WIB

The following is excerpt from Santos Limited?s Weekly Drilling Report for week ending September 23, 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 -- 23/09/04 (Jakarta Time)Circulating through perforated pipe, attempting to free stuck drillstring. The current depth is 5137m with 281m progress for the week. The drillstring became stuck at 5078m while conducting a wiper trip.
Planned Total Depth5500m (changed due to a revised well trajectory)
Interest Santos Group 50%
PT Medco Sampang 50%
Operator Santos Group
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