MBL`s Endowment Warrant Report

Document date:  Thu 11 Nov 1999
Published:  Thu 11 Nov 1999 13:00:19
Document No:  154945
Document part:  A
Market Flag:  N
Classification:  

HOMEX - Adelaide                                                      

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                 SANTOS LIMITED - SUMMARY OF DRILLING

                        WEEK ENDING 12/03/1998


AUSTRALIA


WELL:           Moomba 96

TYPE:           Unit Gas Development

LOCATION:       PPL 8, Moomba Block.  1.2km NE of Moomba 65, 0.8km
                SW of Moomba 12, and approximately 12km NNW of the
                Moomba Gas Plant.

STATUS AT 
12/03/1998
0600 HOURS:     Cased and suspended as a future gas producer.  The
                well reached a total depth of 2,549m, with no
                progress for the week.  The rig was released on
                08/03/1998 and is moving to Moomba 93, a Moomba Block 
                gas development well.

PLANNED
TOTAL DEPTH:    2,530m

INTEREST:       Santos Group                               59.7500%
                Delhi                                      20.2100%
                Boral Energy Resources Ltd                 13.1900%
                Gulf (Aust) Resources NL                    4.7500%
                Cultus Group                                2.1000%

                Operator - Santos Ltd



WELL:           Moomba 97

TYPE:           Block Oil Development

LOCATION:       PPL 8, Moomba Block, 300m NE of Moomba 94, 470m NE
                of Moomba 8, and some 7.5km W of the Moomba Gas
                Plant.

STATUS AT 
12/03/1998
0600 HOURS:     Running surface casing.  Current depth and progress
                for the week is 674m.  The well spudded on 10/03/1998.

PLANNED
TOTAL DEPTH:    1,831m

INTEREST:       Santos Group                               59.7500%
                Delhi                                      20.2100%
                Boral Energy Resources Ltd                 13.1900%
                Gulf (Aust) Resources NL                    4.7500%
                Cultus Group                                2.1000%
                                                                  
                Operator - Santos Ltd




WELL:           Davren 2

TYPE:           Block Gas Appraisal

LOCATION:       PEL's 5 & 6, Merrimelia-Innamincka Block, 3.4km NNW
                of Davren 1, 3.2km S of Meranji South 1 and
                approximately 35km NNW of the Moomba Gas Plant.

STATUS AT 
12/03/1998
0600 HOURS:     The well has been plugged and suspended.  The well
                reached a total depth of 2,938m, with no progress
                for the week.  The rig was released on 10/03/1998,
                and will move to Gudnuki 2, a Nappacoongie-Murteree 
                Block gas exploration well.

PLANNED
TOTAL DEPTH:    3,057m

INTEREST:       Santos Group                                 59.75%
                Delhi                                        20.21%
                Boral Energy Resources Ltd                   13.19%
                Gulf (Aust) Resources NL                      4.75%
                Cultus Group                                  2.10%
                                                                 
                Operator - Santos Ltd


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