Santos Indonesian drilling update

Thursday, July 28 2005 - 07:29 AM WIB

The following is excerpt from Santos Limited?s Weekly Drilling Report for week ending July 28, 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 0600hrs -- 28/07/05 Current operation is pulling out of hole with test tools. The current depth is 5230 m with 17m progress for the week. During the past week a drill stem test was conducted over the open-hole interval from 5088m MD (4764m TVDSS) to 5230m MD (4901m TVDSS). The test was flowed for approximately 16 hours and was then shut-in to obtain pressure build-up data. During the test the well flowed a mixture of oil and water at a combined rate of up to 1300 barrels per day. Following completion of the current test, the plan is to drill ahead and continue the evaluation of the reservoir interval.
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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Development WellWunut 15
TypeGas Development
LocationOnshore Indonesia
Brantas PSC, East Java Basin. 0.5km N of Wunut 1, and some 30km S of Surabaya.
Status at 0600hrs -- 28/07/05 Preparing for completion as a gas producer after running 178mm production casing. The well reached a total depth of 930m with 325m progress for the week.
Planned Total Depth945m
InterestLapindo Brantas 50%
Novus Indonesia Brantas Company 32%
Santos Group 18%
OperatorLapindo Brantas

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Development WellOyong 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 -- 28/07/05 Preparing to drill ahead in Oyong 4DW1 from 1023m.
Oyong 4 DW1: 244mm casing set at 1019m. Current depth 1023m.
Oyong 5 DW1: 244mm casing set at 965m. Current depth 1296m. PBTD 870m.
Oyong 6 DW1 Pilot: 244mm casing set at 1022m. Hole abandoned at 1200m.
Oyong 7 DW1: 178mm casing set at 1189m. Current depth 1190m.
Oyong 8 DW1:Pilot 244mm casing set at 1351m. TD 1652m. Temporary Abandoned.
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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