INPEX acquires Western Australia offshore interests

INPEX Alpha has acquired an 18.999% interest in the WA-35-L (excluding the Van Gogh Defined Area) and a 23.7495% interest in the WA-255-P block 1081 from BHP Billiton.

Offshore staff

TOKYO -- INPEX Alpha has acquired an 18.999% interest in the WA-35-L (excluding the Van Gogh Defined Area) and a 23.7495% interest in the WA-255-P block 1081 from BHP Billiton.

For the WA-35-L, the acquisition will increase the interest for INPEX from 28.500% to 47.499% and for Apache Northwest Pty Ltd. (Apache) from 31.501% to 52.501%. For the WA-255-P block 1081, this acquisition will give INPEX a 23.7495% interest and a 26.2505% interest for Apache (operator) with the remaining 50% currently held by Woodside Energy.

The WA-35-L covers the Novara structure and the Coniston structure. The WA-255- P block 1081 covers part of the Coniston structure. Further appraisal work in the area is planned.

Pending the well results, the company is considering the use of production facilities with the Van Gogh oil field which is in WA-35-L. First production is anticipated in May. The Van Gogh Defined Area is owned by INPEX (47.499%) and Apache (52.501%).

03/12/2009

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