PTTEP Outlines 2009 to 2013 Investment Plan

PTT Exploration and Production Public Company Limited (PTTEP) has announced that the estimated Capital Expenditure and Operating Expenditure for the Company and its subsidiaries for the five-year period from 2009 to 2013 will be approximately Baht 418,000 Million (around US $12 billion). The expenditures have been revised to incorporate the most recent work programs.

At present, the Company has a total of 42 projects, consisting of 15 projects that are under production, 4 projects under development and 23 projects under exploration. This doesn't include projects under Coogee Resources Limited or CRL. (PTTEP's subsidiary has signed the Share Sale Agreement to purchase 100% shareholders' equity in CRL on December 23, 2008, which is expected to be fully effective, approximately by the end of January 2009.)

The estimated expenditure of PTTEP in 2009 will be approximately Baht 97,140 Million for producing projects, development projects, and exploration projects. The majority of expenditures are for Bongkot project, Arthit project, MTJDA-B17 project (Malaysia-Thailand Joint Development Area), S1 project, B8/32 & 9A project, Pailin project, and Yetagun project.