ConocoPhillips announces discovery

Sept. 29, 2005
ConocoPhillips has announced a discovery with its Caldita No. 1 exploration well in the NT/P 61 license located offshore Northern Territory Australia.

Offshore staff

(Australia)-ConocoPhillips has announced a discovery with its Caldita No. 1 exploration well in the NT/P 61 license located offshore Northern Territory Australia.

The well spudded encountered a significant hydrocarbon column in a high-quality reservoir interval. A drill stem test was conducted that flowed gas at a rate of 33 MMcf/d on a one-in. choke. The well reached a depth of 4,037 m and will be plugged and abandoned as programmed. Technical evaluation to assess the further appraisal and development of the Caldita discovery is in progress.

NT/P 61 is located in the Timor Sea 265 km north northwest of Darwin. The Caldita No. 1 well was drilled in 137 m of water.

The NT/P 61 license is jointly held by an affiliate of ConocoPhillips (operator, 60%) and Santos Offshore Pty Ltd. (40%).

09/29/05