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Summary

Coonaberry 1

Santos Ltd, as Operator for the South West Queensland Unit, announces a successful gas exploration well in the Queensland sector of the Cooper/Eromanga Basins.

The exploration well, Coonaberry 1, flowed gas at 206,700 cubic metres per day (7.3 million cubic feet per day) from reservoir sands in the Permian Toolachee Formation over the interval 2722m – 2730m. The test was conducted through a 13mm (0.5″) surface choke.

Coonaberry 1 is located 75km northeast of the Ballera Gas Centre and some 25km west-northwest of the Wareena Gas Field.

The well will be cased and suspended as a future gas producer.

The interests of the Producers in the South West Queensland Unit are:

Company

Current Equity

Santos Group

78.2064% (Operator)

Delhi Petroleum

0.0000%*

Origin Energy

21.4844%

Oil Company of Australia

0.3092%

Niugini Energy Inc

2.0%

*- Delhi elected not to participate