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Bhp Billiton Announces Oil Discovery Within Wa-255-p In Exmouth Sub Basin Off
Release Date: 25/02/2003 08:21:22 Code(s): BIL
BHP BILLITON ANNOUNCES OIL DISCOVERY WITHIN WA-255-P IN EXMOUTH SUB BASIN OFF
WESTERN AUSTRALIA
Bhp Billiton Plc
ISIN: GB0000566504
Share code: BIL
BHP Billiton today announced it had made an oil discovery with its exploration
well Stybarrow-1 within WA-255-P in the Exmouth Sub Basin off Western Australia.
The well has reached a measured depth of 2477 metres and encountered a gross oil
column of 23 metres with 18.6 metres of net pay in the Macedon Member sandstone
reservoir. Water depth is 825 metres.
The Stybarrow-1 discovery is located 55 kilometres northwest of Exmouth, off the
West Australian coast.
The significance of the well will be assessed following further evaluation of
drilling results. Appraisal drilling will be necessary to determine the size of
the find.
The discovery is in an area where there have been a number of discoveries made
by the industry. Development planning studies would not be completed until after
further appraisal and exploration activity in the permit.
Drilling on Stybarrow-1 commenced on February 12, 2003 using the semi-
submersible drilling rig the Atwood Falcon.
Stybarrow-1 is the first well in the current exploration programme in WA-255-P.
The Eskdale-1 well, located approximately 13 km north of Stybarrow-1, will also
test the Macedon Member sandstone reservoir but in a different trap
configuration to Stybarrow-1. Eskdale-1 is expected to spud in early March
2003, after completion of operations on the current well.
BHP Billiton owns a 50% interest and is the operator of WA-255-P with the other
50% held by Woodside Energy Limited.
Further information on BHP Billiton 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: +61 Relations
408 313 259 Tel: +44 20 7802 4156 Mobile: +44
email: 7769 934 942
Andrew.W.Nairn@bhpbilliton.com email:
Mark.Lidiard@bhpbilliton.com
Tracey Whitehead, Media Relations Ariane Gentil, Media Relations
Tel: +61 3 9609 4202 Mobile: +61 Tel: +44 20 7802 4177
419 404 978 email:
email: Ariane.Gentil@bhpbilliton.com
Tracey.Whitehead@bhpbilliton.com
United States South Africa
Francis McAllister, Investor Michael Campbell, Investor & Media
Relations Relations
Tel: +1 713 961 8625 Mobile: +1 713 Tel: +27 11 376 3360 Mobile: +27
480 3699 82 458 2587
email: email:
Francis.R.McAllister@bhpbilliton.com Michael.J.Campbell@bhpbilliton.com
Date: 25/02/2003 08:21:00 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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