Santos? Indonesian drilling update

Thursday, March 18 2004 - 07:21 AM WIB

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

Wildcat Exploration WellsJeruk 1
TypeExploration
LocationOffshore Indonesia
Sampang PSC, East Java Basin.
35km WSW of the Oyong Field and some 40km SE of Surabaya.
Status at 0300hrs -- 18/03/04 (Jakarta Time)Running in hole following casing integrity log. Jeruk 1 is to be sidetracked having unsuccessfully attempted to retrieve stuck drillpipe. The well will be deepened to the planned Total Depth. The Jeruk 1 wellbore reached a depth of 5027m with no progress for the week.
Planned Total Depth 5172m
Interest Santos Group 50%
PT Medco Sampang 50%
Operator Santos Group
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