2005 WILDCAT EXPLORATION PROGRAM HIGH IMPACT DRILLING  IN 2005  The 2005 exploration program  has the highest resource potential of any program undertaken  at Santos. Santos is planning a large, high impact drilling campaign that is already well underway. Santos plans to drill 25 wells and will invest $150 million testing prospects within its expanding domestic and international exploration portfolio – up 19% from the $126 million spent on exploration in 2004. Oil is the main focus of the  2005 program with most activity in the Kutei and East Java Basins offshore Indonesia, the Gulf of Santos has already had drilling success early in 2005 with the Hiu Aman 1 well – the first to be drilled by Santos in the Donggala PSC. Hiu Aman 1 has indicated the presence of a prolific hydrocarbon system in this area. The discovery should add other lower risk prospects to Santos’ The 2005 program reflects  the increasing materiality of Santos’ exploration portfolio  and continues the emphasis on more globally-focused exploration as an important part of the Company’s growth strategy. Suez in Egypt, the Bonaparte Basin in the Timor Sea and the Carnarvon Basin offshore  Western Australia. exploration portfolio. A  multi-well drilling program  will be undertaken in Santos’ Kutei Basin PSCs during 2005. Another gas discovery has  been made at Hurricane 1 in  the Carnarvon Basin, offshore Western Australia. While both wells were discoveries, they require further evaluation to determine their commercial significance. Gulf of Suez RAD 1, NZB A, NZB B, NZB C,Khufu, Pawnee Gulf of Mexico Cougar, Thunder East Java Basin Agung, Herbras,  Banjar Panji Denison Trough Greenmount, Yamala Otway Basin Pecten East, Lin dsay WA Basins Hurricane, Little Joe, Brick Lan ding  Bonaparte Basin Caldita, Ph oenix Kutei Basin  Hiu Aman, Raksasa, Orca, Pangkal Gas Oil Annual Report 2004 17