Santos? Indonesian drilling update

Thursday, November 18 2004 - 07:44 AM WIB

The following is excerpt from Santos Limited?s Weekly Drilling Report for week ending November 18, 2004:

Delineation well (Near Field Exploration/Appraisal Well)Jeruk 2/ST2
TypeOil Appraisal / discovery
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 -- 18/11/04 (Jakarta Time)The current depth is 5674MD (5224m True Vertical Depth) with 167m progress for the week. Current operation is running wireline logs.
Planned Total Depth5700m
InterestSantos Group 50%
PT Medco Sampang 50%
OperatorSantos Group
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