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Summary

Exeter 3 appraisal well

Santos Limited as Operator of WA-191-P, announces that the Exeter 3 appraisal well has failed to encounter hydrocarbons in the primary objective Angel Sandstone reservoir .The well is at a depth of 3,338 metres and is preparing to obtain wireline pressure data across the Angel Sandstone. The well will continue to drill ahead to a planned total depth of 4,076 metres targeting the North Rankin gas formation.Following the drilling of Exeter 3, the Exeter Angel Formation discovery is estimated to have a reserve range of between 20 million and 40 million barrels of oil.

Exeter 3 is located 1.5 kilometres south of the Exeter oil discovery. It followed on from the successful Exeter 1 and 2 wells, which established Exeter as a commercial oil discovery. The primary objective of Exeter 3 was to appraise a possible south eastern extension of the field.

Interest holders in WA-191-P are:

Santos Group (Operator) 33.3977%
KUFPEC 33.4023%
Nippon Oil 25.0000%
Woodside 8.2000%