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Bhp Billiton Announces Oil Discovery At Puma Well In Deepwater Gulf Of Mexico
BHP Billiton Plc
Share Code: BIL
ISIN Number: GB0000566504
Media Release
BHP BILLITON ANNOUNCES OIL DISCOVERY AT PUMA WELL IN DEEPWATER GULF OF MEXICO
BHP Billiton today announced that it had completed drilling the Puma-1
exploration in the deepwater Gulf of Mexico.
The well encountered approximately 500 feet of net oil pay in Miocene
sandstones, and two subsequent sidetrack bores also encountered oil in reservoir
intervals of a similar age.
Steve Bell, President, Exploration and Business Development said today: "The
drilling result is encouraging, however, the well was drilled in a structurally
complex subsurface area and in a zone where seismic imaging data is of only
moderate quality. Further seismic reprocessing and appraisal drilling will be
necessary to evaluate the size and significance of the discovery".
Drilling on Puma-1 began on August 14 2003 on Block GC 823 in the Western
Atwater Foldbelt using the BP-operated Ocean Confidence drillship. The well is
located 140 miles from the Louisiana coast and eight miles from the company"s
Mad Dog development. The well was drilled to a total measured depth of 19,034
feet in a water depth of 4130 feet. Technical data was taken from the straight
hole and sidetrack bores.
BHP Billiton has a 33.34% interest in Puma with BP (operator) 51.66% and Unocal
15%.
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 Relations
Mobile: +61 408 313 259 Tel: +44 20 7802 4156
email: Andrew.W.Nairn@bhpbilliton.com email: Mark.Lidiard@bhpbilliton.com
Tania Price, Media Relations South Africa
Tel: +61 3 9609 3815 Michael Campbell, Investor & Media
Mobile: +61 419 152 780 Relations
email: Tania.Price@bhpbilliton.com Tel: +27 11 376 3360
Mobile: +27 82 458 2587
United States email:
Francis McAllister, Investor Relations Michael.J.Campbell@bhpbilliton.com
Tel: +1 713 961 8625 Mobile: +1 713
480 3699
email:
Francis.R.McAllister@bhpbilliton.com
Date 13 January 2004
Date: 13/01/2004 08:00:03 AM Supplied by www.sharenet.co.za
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