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Mexico
BHP Billiton Plc
Registration number 3196209
Share Code: BIL
ISIN: GB0000566504
NEWS RELEASE
Date: 30 June 2003
Number : 23/03
BHP BILLITON ANNOUNCES OIL DISCOVERY WITH CHINOOK E-WELL IN DEEPWATER GULF OF
MEXICO
BHP Billiton today announced that it has made an oil discovery at its second
exploratory well on the Chinook prospect in the ultra-deepwater Gulf of Mexico.
Drilled in water depths of approximately 8,830 feet (2,684 meters), the well
exceeded a total depth of 27,650 feet (8,406 meters), encountering a gross
hydrocarbon column of 620 feet (188 meters) with 260 feet (79 meters) of net oil
pay.
The Chinook discovery is located more than 300 kilometers (180 miles) from the
Louisiana coast in Walker Ridge Block 469, approximately 30 kilometers (19
miles) south of the previously announced Cascade discovery.
Steve Bell, President of Exploration and Business Development for BHP Billiton
Petroleum, said today: "This is a very encouraging result on a large structure.
Of course, it is early days and the result must be seen in perspective. While
this is the deepest penetration to date on Chinook, we must have more appraisal
data before we can be definitive about the scale of resource. Importantly, this
strengthens our inventory of BHP Billiton-operated discoveries in the area.
With Shenzi, Cascade, Neptune, and Vortex, we have a full appraisal programme in
place to evaluate and, if successful, create more value by ultimately
commercialising these hydrocarbon accumulations."
Drilling on Chinook-3 began January 13, 2003, using the BHP Billiton operated
drillship C.R. Luigs. BHP Billiton owns a 40 percent interest and is the
designated operator of Chinook with Petrobras owning a 30 percent interest, and
Total and Amerada Hess each holding a 15 percent interest.
BHP Billiton holds interests in more than 340 blocks in the Gulf of Mexico,
where the company is actively exploring for oil and gas. Deepwater projects
sanctioned for development include the Atlantis and Mad Dog oil and gas fields,
in addition to producing assets at Typhoon and Boris. In the past year the
company has announced discoveries at Cascade, Shenzi, and Vortex, all of which
are located in deep- and ultra-deepwater blocks.
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 Relations
Tel: +61 3 9609 3952 Tel: +44 20 7802 4156
Mobile: +61 408 313 259 email: Mark.Lidiard@bhpbilliton.com
email: Andrew.W.Nairn@bhpbilliton.com
Tania Price, Media Relations Ariane Gentil, Media Relations
Tel: +61 3 9609 3815 Tel: +44 20 7802 4177
Mobile: +61 419 152 780 email: Ariane.Gentil@bhpbilliton.com
email: Tania.Price@bhpbilliton.com
United States South AfricaMichael Campbell, Investor &
Francis McAllister, Investor Media Relations
Relations Tel: +27 11 376 3360
Tel: +1 713 961 8625 Mobile: +27 82 458 2587
Mobile: +1 713 480 3699 email:
email: Michael.J.Campbell@bhpbilliton.com
Francis.R.McAllister@bhpbilliton.com
Date: 30/06/2003 08:12:03 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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