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              [html]<thead><tr><td>Exploration is a key growth driver for Sartos and success with the drill. bit is vital, to adding value for Santos shareholders. During the past four years Santos has been working to build exploration</td><td>The program added at least 93 million boe ( including the pre - drill, estimate for 2eruk ) of recoverable resources that will be further evaluated by delineation and, in some cases, production history to determine 1P and 2P</td><td>Cooper Basin In central Australia where four of six wildcat wells were cased and suspended as gas discoveries. There was also success in the offshore Obxay Basin with the</td></tr></thead><tbody><tr><td>• acquiring new exploration acreage</td><td>Importantly, these results were</td><td>Casino field, which is currently being evaluated to determine</td></tr><tr><td>▪ adding material exploration prospects</td><td>achieved with financial discipline, spending $ 126 million which was substantially less than forecast.</td><td>its commercial significance. Additional drilling is planned to occur nearby in 2005 to follow</td></tr><tr><td>• drilling wildcat exploration wells.</td><td>The most significant drilling raw : slit for the swar war the Tenib</td><td>up this encouraging result. Cantor rhis - our plantary</td></tr><tr><td>SUCCESS RATE OF 44 % TN 2004Santos ’ 2004 exploration effort</td><td>oil discovery in the Sampang PSC offshore East Java, Indonesia.</td><td>United States at the Torres 1A onshore well, which was brought</td></tr><tr><td>produced good results, as the Company high graded its</td><td>The 3eruk discovery is still under evaluation but its commercial.</td><td>onto production only two months after drilling was completed.</td></tr><tr><td>exploration acreage and started drilling one of the most exciting</td><td>significance appears encouraging. Santos has confirmed an oil.</td><td>Other wells in the offshore Otway B win included the, days water</td></tr><tr><td>portfolios in the industry.</td><td>column of at least 379 metres</td><td>Among maximum subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects, subjects</td></tr><tr><td>Santos discovered hydrocarbons in seven of the sixteen wildcat</td><td>resource in excess of the pre - drill.</td><td>and abandoned after failing to intersect economic hydrocarbons,</td></tr><tr><td>wells that were drilled, a an impressive success rate</td><td>Santos also had further</td><td>and Callister 1 which was also plugged and abandoned with</td></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr></tbody>
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