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Exploration and Appraisal Drilling Upd ate – December 2015 (ASX:OSH | ADR: OISHY | POMSoX: OSH) 7 January 2016 * Al l d ept hs qu ot ed ar e MDRT (meas ur ed d ept h f ro m r ot ary tab le) Well Name Well Type Location Spud Date Rig Objective/ Targets Status Operator Participants 1 An tel op e 4 ST1 Gas appraisal PRL 15, Gulf Province, PNG 1km south-southeast of Antelope 2 27 August 2015 Rig 103 Confirm the structure, reservoir continuity and quality in the southern portion of the field. As planned, during the month, the Antelope 4 ST1 well was plugged and abandoned, with operations completed on 23 December. Mobilisation of Rig 103 to PPL 269 (operated by Talisman Niugini, OSH 10%), to drill the Strickland exploration well, has now commenced. Total E&P PNG Limited Oil Search 22.8% Total 40.1% InterOil 36.5% Minorities 0.5% Total 100% 1 Gross interests, pre-Government and landowner back-in rounded to 1 decimal place Antelope 4ST1 Elk / Antel op e PPL 475 PPL 476 PRL 15 Oil Search Li mited Incorporated in Papua New Guinea ARBN 055 079 868 Head o ffice Port Moresby Papua New Guinea Sydney office 1 Bligh Street Sydney NSW 2000 Australia Mailing address GPO Box 2442 Sydney NSW 2001 Australia Tel: +61 2 8207 8400 Fax: +61 2 8207 8500 www.oilsearch.com
