Santos Indonesian drilling update

Thursday, January 6 2005 - 06:23 AM WIB

The following is excerpt from Santos Limited?s Weekly Drilling Report for week ending January 06, 2005:

Delineation well (Near Field Exploration/Appraisal Well)Jeruk 2/ST3
TypeOil Appraisal
LocationOffshore Indonesia
Sampang PSC, East Java Basin.
1.6km E of Jeruk 1, 35km SW of the Oyong Field and some 40km SE of Surabaya.
Status at 0400hrs -- 06/01/05 (Jakarta Time)Pulling out of hole to pick up tools for an open hole test below 5430m (top of the reservoir in this hole is 5126 m). Jeruk 2/ST3 was initiated from 5140m with a 101mm liner run to 5430m.
Planned Total Depth5700m (Jeruk 2 original hole)
InterestSantos Group 50%
PT Medco Sampang 50%
OperatorSantos Group

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Delineation well (Near Field Exploration/Appraisal Well)West Wunut 2ST
TypeAppraisal
LocationOnshore Indonesia
Brantas PSC, East Java Basin.
2.0 km SW of West Wunut 10 and some 30km S of Surabaya.
Status at 0600hrs -- 06/01/05 06/01/05 (Houston Time)West Wunut 2ST has been plugged and abandoned having failed to intersect an economic hydrocarbon column. The well reached a total depth of 1295m with no progress for the week. The rig was released on 01/01/05, and is moving to Carat 2, a Gas Appraisal Well.
Planned Total Depth1280m
InterestSantos Group 18.0% WI
Operator Lapindo Brantas

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