Santos? Indonesian drilling update

Thursday, October 7 2004 - 12:32 PM WIB

The following is excerpt from Santos Limited?s Weekly Drilling Report for week ending October 07, 2004:

Delineation well (Near Field Exploration/Appraisal Well)Jeruk 2
TypeOil Appraisal
LocationOffshore Indonesia
Sampang PSC, East Java Basin.
1.6km E of Jeruk 1, 35km WSW of the Oyong Field and some 40km SE of Surabaya.
Status at 0400hrs -- 07/10/04 (Jakarta Time)Pulling out of hole to run intermediate liner after intersecting the top Kujung carbonate. The well will then be drilled into the primary objective and evaluated. The current depth is 5134m (4668m True Vertical Depth subsea) with 537m progress for the week.
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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