Santos Discovers Gas at Peluang-1 Offshore Indonesia

Santos announced a gas discovery at the Peluang-1 well offshore Indonesia. Located adjacent to the Maleo field facilities, the Peluang discovery well was drilled by PT Apexindo's Raniworo jackup.

Peluang-1, located in the Madura Offshore PSC, East Java, spudded on February 19, 2009, and was drilled to a total depth of 1,126 meters. The well intersected gas pay in the target Mundu formation. The well was plugged and abandoned as planned. Subject to commerciality, the discovery may ultimately be tied into the nearby Maleo field. Santos is the operator and has a 67.5% interest. Other participants in the Madura Offshore PSC are PC Madura Ltd with 22.55; PT Pantai Madura with 10% (subject to finalization of documentation).

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