Anadarko Encounters Oil & Gas at Badik

Anadarko has encountered approximately 133 net feet of oil and natural gas pay in Upper Miocene high-quality deltaic sandstones at its Badik prospect, located in the Tarakan Basin of Indonesia. The well was drilled to a total depth of approximately 12,950 feet in approximately 230 feet of water by Seadrill's jackup West Triton. The company and its partners are currently evaluating an appraisal program and planning to obtain additional seismic on the block. Anadarko operates the block with a 35-percent working interest. Co-owners in the block include PT Medco E&P Nunukan (40-percent working interest), BPRL Ventures Indonesia B.V., a wholly owned subsidiary of BPRL (12.5-percent working interest), and Videocon Indonesia Nunukan Inc. (12.5-percent working interest).

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