Santos' Norfolk 2 Appraisal Well Successful

Preliminary interpretation of wireline logs indicates that Norfolk-2 has intersected a net oil column of some 9 meters (true vertical thickness) in excellent reservoir quality, primary objective Angel sand.

The well was drilled to a total depth of 3,350 meters, as a down-dip sidetrack from the successful Norfolk-1 exploration well. Norfolk-2 intersected the target 14m high to prognosis, 460m to the NNW and 13 meters down-dip of Norfolk-1 (which encountered 20 meters of net oil pay). As in Norfolk 1 and Mutineer 1B (drilled in 1998 1.75km north west of Norfolk 1 and which encountered 8 meters of net oil pay) no oil water contact was established. This oil may form part of a larger accumulation also incorporating the Pitcairn-1 oil discovery (drilled in 1997, 3.4km south west of Norfolk-1 with 3 meters of net oil pay). However, further appraisal of the field is required to evaluate the reserve potential.

The Norfolk field is located in 165m of water depth, 25km north of the Lambert Field and some 150km north of Dampier, off the Western Australian coast.

On completion of the Norfolk 2 abandonment the rig will be moving to drill a similar on-trend prospect, Exeter 1, located 10km south of Norfolk 1 in the same permit.

Santos is the operator of per WA-191-P with 33.3972%; ExxonMobil holds 33.4023%; Nippon holds 25% and Woodside holds the remaining 8.2%.