O I L S E A R C H L I M I T E D(Incorporated in Papua New...

O I L S E A R C H L I M I T E D
(Incorporated in Papua New Guinea)
ARBN 055 079 868
Australian Registered Office: Level 27 Angel Place, 123 Pitt Street, Sydney NSW 2000, Australia
GPO Box 2442, Sydney NSW 2001, Australia
Telephone: (02) 8207 8400 Facsimile: (02) 8207 8500
Email: [email protected]
8 January 2004
THE AUSTRALIAN STOCK EXCHANGE
(SYDNEY) LIMITED
Level 4, Exchange Centre
20 Bridge Street
Sydney NSW 2000
Attention: Company Announcements Officer
Dear Sir/Madam
Re: Oil Search Limited
Drilling Report SE Moran Meshat-1 8 January 2004
Please find attached.
Yours sincerely
MICHAEL SULLIVAN
General Counsel/Group Secretary
Encl.
O I L S E A R C H L I M I T E D
(Incorporated in Papua New Guinea)
ARBN 055 079 868
DRILLING REPORT – 8 JANUARY 2004
WELL NAME: SE Moran 1x (PPL 219)
Oil Search reports that since the last drilling report on 31 December 2003, the SE
Moran 1x well has been drilled to a depth of 2,065 metres. Progress since 31
December was 486 metres. As at 06:00 on 8 January 2004, 9-5/8” casing was being
run in preparation for drilling ahead to the target Toro and Digimu Sandstones.
SE Moran 1x is an exploration well planned to test a separate prospect at the
southeastern end of the Moran complex. It is being drilled as a vertical well.
The participants in this well are:
Oil Search 72.52%
Ampolex 18.73%*
Merlin Petroleum 8.75%
Total 100.0%
* Ampolex is a wholly owned subsidiary of ExxonMobil. Oil
Search Limited is carrying Ampolex’s costs for this well and is
entitled to Ampolex’s interest. Ampolex has the right to back-in
to a SE Moran discovery under agreed commercial terms.



Is the statement in the next report: "andstones, encountered between ~1,847 and 1,905 metres, confirmed this reservoir
objective to be water-bearing." Bad news??? I'm not quite o'fay about drill reports.




WELL NAME: Meshat-1 (Block 43, Yemen)
Oil Search reports that as at 06.00 on 7 January 2004 (+4 hrs GMT), the Meshat-1
exploration well in Block 43, Republic of Yemen, was at a depth of 2,143 metres and
setting 9-5/8” casing.
Prior to running the 9-5/8” casing, electric logs run across the Upper Qishn S2
Sandstones, encountered between ~1,847 and 1,905 metres, confirmed this reservoir
objective to be water-bearing.
After setting the 9-5/8” casing, the Meshat-1 well will test the deeper potential
reservoir intervals before reaching the planned TD at 3,288 metres in the Basement.
The participants in this well are:
DNO ASA 50%, operator
Oil Search (Yemen) Limited 25%
First Calgary Petroleums Limited 10%
The Yemen Company 15%, carried
Total 100%
PETER BOTTEN
Managing Director
8 January 2004
For further information please contact:
Ann Diamant
Investor Relations Manager
Tel: 02 8207 8440
Mob: 0407 483 128