THE WALL STREET JOURNAL: Shell Malaysia, Petronas Carigali Successful Drill (ShellNews.net)

DOW JONES NEWSWIRES

August 20, 2004 5:24 a.m.

Edited Press Release

LONDON -- Shell Malaysia and its partner Petronas Carigali Sdn Bhd said Friday that they have successfully drilled an exploratory-appraisal well on the M3 South prospect in Block SK312, offshore Sarawak.

The M3 South Field is located approximately 250 km offshore from the Petronas MLNG facilities in Bintulu, Sarawak and is located 7 km south of the existing M3 production platform.

Shell Malaysia chairman Jon Chadwick said: "The field represents a pleasing gas/condensate discovery close to our existing infrastructure - it produced at very good rates of both gas and condensate during production testing".

The SK312 Production Sharing Contract is operated by Shell Malaysia, which holds a 70% interest in the Block.

Petronas Carigali Sdn Bhd holds the remaining 30% interest.