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Summary

Oyong-1

Santos (Sampang) Pty Ltd, as Operator of the Sampang PSC offshore East Java, advises the results of the second of two drill stem tests conducted in the Oyong-1 well.

From the interval 855 metres to 873 metres (18 metres) in the gas zone, the well flowed 351,175 cubic metres of gas per day (12.4 million cubic feet per day) through a 19.1 millimetre (48/64 inch) surface choke with a flowing tubing head pressure of 6,929 kilopascals (1,005 pounds per square inch).

The gas is of good quality with virtually no carbon dioxide (0.6%).

All reported depths are referenced to the rig rotary table.

Oyong-1 is located approximately 80 kilometres East of Surabaya in 44.5 metres of water.

Participants in the Sampang PSC are:

Santos (Sampang) Pty Ltd (Operator)

45.00%

Coastal Indonesia Sampang Ltd

40.00%

Cue (Sampang) Pty Ltd

15.00%