ConocoPhillips meets with success with Barossa-1

ConocoPhillips has hit gas with the Barossa-1 exploration well in the NT/P69 license offshore Northern Territory, Australia, 295 km (183 mi) northwest of Darwin.

Offshore staff

HOUSTON -- ConocoPhillips has hit gas with the Barossa-1 exploration well in the NT/P69 license offshore Northern Territory, Australia, 295 km (183 mi) northwest of Darwin.

The company began operations in July, drilling the Barossa-1 well to a TD of 4,310 m (14,140 ft). Logging and two drillstem tests confirmed the presence of gas. One test flowed gas at a rate of 30.1 MMcf/d through a 56/64 inch choke.

Barossa-1 has been plugged and abandoned as planned.

"The results of the Barossa-1 well further strengthen ConocoPhillips' presence and growth in the Timor Sea," says Stephen Brand, ConocoPhillips vice president, exploration and business development. "This is the latest successful wildcat in the area after the Caldita-1 well last year, approximately 30 km (19 mi) southwest of the Barossa well."

Drilling has begun on the Caldita-2 well to appraise the Caldita accumulation. A 3D seismic survey over both Barossa and Caldita will begin this month.

A ConocoPhillips affiliate operates the NT/P 69 license with 60% interest. Santos Offshore Pty. Ltd. holds the remaining 40%.

12/12/2006

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