Santos due interest in blocks off Vietnam

Santos Ltd. has entered Vietnam with an agreement to obtain an interest in exploration acreage off the southern coast operated by UK Premier Oil PLC.

April 27, 2006

By OGJ editors
HOUSTON, Apr 27 -- Santos Ltd. has entered Vietnam with an agreement to obtain an interest in exploration acreage off the southern coast operated by UK Premier Oil PLC.

Santos International will hold a 37.5%% interest in the Blocks 12E and 12W production sharing contracts after funding part of a two-well drilling program. The blocks cover 5,160 sq km in the Nam Con Son basin.

The two-well drilling work program includes the Dua-4X well and the 12-CS-1X Blackbird well in Block 12E. Drilling of the Dua-4X well is scheduled to begin in early May. The drilling will be close to production facilities and in shallow water.

Santos currently is assessing other opportunities in Vietnam.