Santos Indonesian drilling update

Thursday, July 7 2005 - 09:28 AM WIB

The following is excerpt from Santos Limited?s Weekly Drilling Report for week ending July 7, 2005:

Delineation Well(Near Field Exploration/Appraisal Well)Jeruk 2 ST4
TypeOil Appraisal
LocationOffshore Indonesia
Sampang PSC, East Java Basin. 1.6km E of Jeruk 1, 35.0km SW of the Oyong Field, and some 40km SE of Surabaya. Jeruk 2 ST4 is an appraisal sidetrack drilled out of the existing Jeruk 2 wellbore.
Status at 0300hrs -- 07/07/05 Preparing for an open hole test of the Upper Kujung Carbonate. The current depth is 5100m with 125m progress for the week.
Planned Total Depth (Rev.) 5570m
InterestSantos Group 45.0%
Singapore Petroleum Sampang Ltd 40.0%
Cue Sampang Pty Ltd 15.0%
OperatorSantos

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Delineation well (Near Field Exploration/Appraisal Well)Tanggulangin 4 ST1
TypeOil Appraisal
LocationOnshore Indonesia
Brantas PSC, East Java Basin. 1.0km N of Tanggulangin 1, 5.0km E of the Wunut Field facilities, and some 35km S of Surabaya.
Status at 0600hrs -- 07/07/05 The well has been cased and completed as a future gas producer. The well is at total depth of 1143m with no progress for the week. The rig was released on 30/06/05.
Planned Total Depth1073m
InterestLapindo Brantas 50%
Novus Indonesia Brantas Company 32%
Santos Group 18%
OperatorLapindo Brantas

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Development WellsOyong Development
TypeOil Development:
LocationOffshore Indonesia, East Java Basin
Sampang PSC, 40km E of Jeruk 1 and some 80km E of Surabaya.7 Deviated Well Batch Drilling Program (Oyong 4 DW1 ? Oyong 10 DW1)
Status at 1500hrs -- 06/07/05 Preparing to drill ahead 216mm hole in Oyong 7DW1. Oyong 4 DW1: 244mm casing set at 1019m. Current depth 1023m. Oyong 5 DW1: 244mm casing set at 965m. Current depth 970m. Oyong 6 DW1: 244mm casing set at 1022m. Current depth 1026m. Oyong 7 DW1: 244mm casing set at 835m. Current depth 838m. Oyong 8 DW1: 244mm casing set at 1351m. Current depth 1354m. Oyong 9 DW1/ST1: 178mm casing set at 1339m. Current depth 1340m. Oyong 10 DW1: 244mm casing set at 835m. Current depth 838m.
Planned Total Depth920m SS
InterestSantos Group 45.0%
Singapore Petroleum Sampang Ltd 40.0%
Cue Sampang Pty Ltd 15.0%
OperatorSantos Group
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