Rheochem Wins Santos Onshore Drilling Fluids Contract

Rheochem has been awarded a new well site services contract to supply drilling fluids and related engineering services to Santos Limited for its Australian onshore operations. This replaces the previous contract which expires at the end of May 2008.

Santos is one of Australia's top 40 companies and is a major Australian oil and gas exploration company with interests and operations in every major Australian petroleum province and in Indonesia, Papua New Guinea, Vietnam, India, Bangladesh, Kyrgyzstan and Egypt.

It is also Australia's largest domestic gas producer. Santos has the largest Australian exploration portfolio by area of any company and is pursuing new venture opportunities with a focus on Asia.

The service and supply contract is effective from June 1, 2008 to May 31, 2011.

"We are delighted that Santos has chosen Rheochem to continue to provide these services for its onshore operations in Australia," said Haydn Gardner CEO of Rheochem. "This secures Rheochem's position as the major supplier of drilling fluids to the onshore oil and gas drilling market in Australia."