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Media enquiries Investor enquiries
Kathryn Mitchell Andrew Seaton
+61 8 8218 5260 / +61 (0) 407 979 982 +61 8 8218 5157 / +61 (0) 410 431 004
kathryn.mitchell@santos.com andrew.seaton@santos.com

The Jeruk oil discovery is located in the Sampang PSC, offshore Indonesia, approximately 42 kilometres from the city of Surabaya.

As foreshadowed in Santos’ ASX releases following the Jeruk-3 appraisal well (dated 14 July 2006 and 2 August 2006), technical work has been ongoing to integrate all well and seismic data to better determine the most likely oil resource range.

This analysis is now largely complete and whilst there are substantial remaining reservoir uncertainties, the upside recoverable oil resource for Jeruk is most likely to be less than 50 million barrels.

Opportunities to commercialise Jeruk are being pursued, however plans for additional appraisal drilling have been placed on hold pending the review of development scenarios and the resolution of commercial and technical issues which may potentially impact the viability of any development.

The participants in the Sampang PSC are:

Santos (Sampang) Pty Ltd (operator) 40.5%
Singapore Petroleum Sampang Ltd 36.0%
Cue Sampang Pty Ltd 13.5%
PT Petrogas Oyong Jatim* 10.0%

* subject to finalisation of documentation