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Santos announces gas discovery at Crown in the Browse Basin

Monday, Nov 19, 2012

Santos today announced a significant gas discovery at the Crown-1 exploration well in WA-274-P, located in the Browse Basin offshore Western Australia.

Santos’ Head of Exploration Bill Ovenden described Crown-1 as an important gas discovery for the company.

“The Crown discovery is well positioned, in close proximity to existing and proposed LNG projects in the Browse basin and other material exploration prospects,” Mr Ovenden said.

Santos holds 30% of WA-274-P and is operator. Joint venture partners are Chevron (50%) and INPEX (20%).

In addition, Santos has executed agreements to take a 30% interest in the adjoining exploration permit, WA-408-P, operated by Total (50%), subject to customary conditions. Murphy Oil Corporation has a 20% interest in the permit. The joint venture has committed to an initial drilling programme in the permit, including Dufresne-1 and Bassett West-1. These wells are expected to immediately follow the Crown-1 program.

Source: Santos Ltd.

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