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Summary

Exeter-1

Santos Limited, as operator of WA-191-P, announces a successful oil exploration well in the Carnarvon Basin, offshore Western Australia.

Preliminary interpretation indicates a net oil column of 18 metres over the 3,110-3,133 metre interval in the Angel formation. Total depth wireline logging is currently in progress. Further valuation of the results of the well will be undertaken.

The well was drilled to a total depth of 3,212 metres.

It is approximately 11 kilometres SW of the Norfolk-1 oil discovery well in water depth of 147 metres. Following abandonment of Exeter-1, the rig will move to drilling the Mutineer-2 appraisal well, also in WA-191-P.

All reported depths (except water depth) are referenced to the rig rotary table.

Interests in the well are:

  • Santos (Operator) 44.53%
  • Mobil Australia Resources Company 44.54%
  • Woodside 10.9333%

For further information contact Graeme Bethune, General Manager Finance and Investor Relations on (08) 8218 5157 or 0419 828 617.

Santos stock symbols: STO (Australian Stock Exchange), STOSY (NASDAQ ADR)