Oil Disc WA-255-P Exmouth
BHP Billiton Limited
25 February 2003
BHP Billiton Limited is issuing this announcement to fulfil disclosure
obligations arising from its secondary listing on the London Stock Exchange.
The text of this release is identical to that issued by BHP Billiton Plc
earlier.
Date 25 February 2003
Number 08/03
BHP Billiton Announces Oil Discovery within WA-255-P in Exmouth Sub Basin Off
Western Australia
BHP Billiton today announced it had made an oil discovery with its exploration
well Stybarrow-1 within WA-255-P in the Exmouth Sub Basin off Western Australia.
The well has reached a measured depth of 2477 metres and encountered a gross oil
column of 23 metres with 18.6 metres of net pay in the Macedon Member sandstone
reservoir. Water depth is 825 metres.
The Sybarrow-1 discovery is located 55 kilometres northwest of Exmouth, off the
West Australian coast.
The significance of the well will be assessed following further evaluation of
drilling results. Appraisal drilling will be necessary to determine the size of
the find.
The discovery is in an area where there have been a number of discoveries made
by the industry. Development planning studies would not be completed until after
further appraisal and exploration activity in the permit.
Drilling on Stybarrow-1 commenced on February 12, 2003 using the
semi-submersible drilling rig the Atwood Falcon.
Stybarrow-1 is the first well in the current exploration programme in WA-255-P.
The Eskdale-1 well, located approximately 13 km north of Stybarrow-1, will also
test the Macedon Member sandstone reservoir but in a different trap
configuration to Stybarrow-1. Eskdale-1 is expected to spud in early March 2003,
after completion of operations on the current well.
BHP Billiton owns a 50% interest and is the operator of WA-255-P with the other
50% held by Woodside Energy Limited.
Further information on BHP Billiton can be found on our Internet site:
http://www.bhpbilliton.com
Australia United Kingdom
Andrew Nairn, Investor Relations Mark Lidiard, Investor & Media Relations
Tel: +61 3 9609 3952 Mobile: +61 408 313 259 Tel: +44 20 7802 4156 Mobile: +44 7769 934 942
email: Andrew.W.Nairn@bhpbilliton.com email: Mark.Lidiard@bhpbilliton.com
Tracey Whitehead, Media Relations Ariane Gentil, Media Relations
Tel: +61 3 9609 4202 Mobile: +61 419 404 978 Tel: +44 20 7802 4177
email: Tracey.Whitehead@bhpbilliton.com email: Ariane.Gentil@bhpbilliton.com
United States South Africa
Francis McAllister, Investor Relations Michael Campbell, Investor & Media Relations
Tel: +1 713 961 8625 Mobile: +1 713 480 3699 Tel: +27 11 376 3360 Mobile: +27 82 458 2587
email: Francis.R.McAllister@bhpbilliton.com email: Michael.J.Campbell@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209
Registered in Australia Registered in England and Wales
Registered Office: 600 Bourke Street Melbourne Victoria Registered Office: 1-3 Strand London WC2N 5HA United Kingdom
3000 Telephone +44 20 7747 3800 Facsimile +44 20 7747 3900
Telephone +61 3 9609 3333 Facsimile +61 3 9609 3015
The BHP Billiton Group is headquartered in Australia
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