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BHP BILLITON ANNOUNCES HYDROCARBON DISCOVERY
IN DEEPWATER GULF OF MEXICO, US
BHP Billiton today announced it had completed drilling of an exploratory well
on its Cascade prospect in the ultra-deepwater Gulf of Mexico, United States.
The well, Cascade-1, encountered an encouraging hydrocarbon column.
Drilling on Cascade-1 began January 31 2002, in Walker Ridge Block 206 using
the BHP Billiton-operated drillship C.R. Luigs. Whole cores were taken in the
well, which was drilled in waters approximately 8,200 feet deep to a total
depth of 27,929 feet (from the deck of the drillship).
The significance of the well will be assessed following further evaluation of
drilling and resource data. _Further drilling will be necessary to determine
the size of the find.
BHP Billiton owns a 50 percent interest and is the operator of Cascade, with
Petrobras and Devon Energy Corporation each holding a 25 percent interest.
The Cascade prospect lies approximately 35 miles south-southwest of the Mad
Dog and Atlantis oil and gas discoveries where earlier this year BHP Billiton
approved funding to advance these fields into development and production.
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Further information can be found on our Internet site:
http://www.bhpbilliton.com
Australia United Kingdom
Andrew Nairn, Investor Relations Mark Lidiard, Investor & Media
Tel: + 61 3 9609 3952 Mobile: Relations
+61 408 313 259 Tel: +44 20 7747 3956
email: email: Mark.Lidiard@bhpbilliton.com
Andrew.W.Nairn@bhpbilliton.com
Mandy Frostick, Media Relations South Africa
Tel: +61 3 9609 4157 Mobile: +61 Michael Campbell, Investor & Media
419 546 245 Relations
email: Tel: +27 11 376 3360
Mandy.J.Frostick@bhpbilliton.com Mobile: +27 82 458 2587
email:
Michael.J.Campbell@bhpbilliton.com
United States
Francis McAllister, Investor
Relations
Tel: +1 713 961 8625 Mobile: +1
713 480 3699
email:
Francis.R.McAllister@bhpbilliton.com
Date: 03/06/2002 07:15:00 AM Produced by the SENS Department
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