INPEX Discovers Gas in Australia's Browse Basin

INPEX Holdings Inc. has announced that its subsidiary INPEX Browse, Ltd., Operator of the WA-344-P Joint Venture, has made a new gas discovery in Australia's Browse Basin.

INPEX Browse (60% interest) and Total E&P Australia (40% interest) acquired the WA-344-P exploration acreage in November 2007 and completed the Mimia-1 well in July 2008. A 72 meter gas column was found and a production test completed recently confirmed the discovery of gas and condensate.

The Mimia-1 well was drilled by the semisub Songa Venus in a water depth of 254 meters and is located approximately 20 kilometers north-east of the INPEX Browse operated WA-285-P permit (INPEX 76%, Total 24%) which contains the giant Ichthys gas-condensate field.

INPEX Browse and Total are in preparation for development of the Ichthys gas-condensate field and will consider how the Mimia discovery could be developed taking into account potential synergy with the Ichthys development.

INPEX Browse is also operating in WA-341-P (60%), WA-343-P (60%) and participating in exploration in WA-274-P (20%), WA-281-P (20%), WA-410-P (20%) and WA-411-P (26.6%).

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