Santos? Indonesian drilling update

Thursday, November 25 2004 - 07:41 AM WIB

The following is excerpt from Santos Limited?s Weekly Drilling Report for week ending November 25, 2004:

Delineation well (Near Field Exploration/Appraisal Well)Jeruk 2/ST2
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 -- 25/11/04 (Jakarta Time)Conducting cement squeeze to repair pressure leak in liner prior to drilling ahead approximately 20m to conduct an open hole test. Following this test further cased hole testing is planned. During the week wireline logs were completed and a 114mm (4 ??) liner run to 5672m .The current depth is 5674MD (5224m True Vertical Depth) with no progress for the week.
Planned Total Depth5700m
InterestSantos Group 50%
PT Medco Sampang 50%
OperatorSantos Group
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