Sampang PSC to Suspend Jeruk 3

Santos Ltd.

Santos Ltd., operator of the Sampang Production Sharing Contract (PSC), said that the Jeruk-3 appraisal well is being drilled offshore Indonesia approximately 1.8 km west of Jeruk-1 and 40 km southeast of Surabaya.

The bottom hole section of the well has now been completed. The test over the interval from 4,789m to 4,897m TVDSS flowed formation water as expected at a rate of up to 6,700 barrels per day through a 28/64-inch choke. It confirmed the previously interpreted oil/ water contact at approximately 4,760m TVDSS.

The well will now be suspended as a potential future oil producer and the rig will be released.

The Jeruk-3 appraisal well data will be integrated with other well and seismic data to assist in determining the most likely resource range and forward appraisal plan.

Santos has a 40.5% stake in the Sampang PSC. The other participants include Singapore Petroleum Sampang Ltd (36%), Cue Sampang Pty Ltd (13.5%), and PT Petrogas Oyong Jatim (10%, subject to finalization of documentation).