Oil Search : Drilling Report for August

3 September 2015

* All depths quoted are MDRT (measured depth from rotary table)

Gas appraisal
PRL 15, Gulf Province, PNG
1km south of Antelope 2
27 August 2015
Rig 103
Delineate the size and structural extent of the Elk-Antelope gas field.
During the month, rigging up of Oil Search's Rig 103 from Antelope 5 to the Antelope 4 site was completed. Drilling commenced on the sidetrack on 27 August, reaching a depth of 903 metres at the end of the month. The sidetrack has a planned total depth of approximately 2,468 metres.
Total E&P PNG Limited

1 Gross interests, pre-Government and landowner back-in

Oil Search Limited

Incorporated in Papua New Guinea ARBN 055 079 868

Head office 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

Oil appraisal
Taza PSC, Kurdistan Region of Iraq
6km SE of Taza 1
22 October 2014
Sakson Rig 605
A deviated hole to better define the structural configuration, fluid contacts, reservoir quality and distribution and nature of fracturing of the carbonate reservoirs in the southern part of the PSC.
During the month, the Euphrates and Jeribe intervals were tested. Both intervals flowed water and minor volumes of oil at low rates from tight reservoir.
The forward plan is to plug and abandon the well and evaluate the results of the drilling, together with the recently processed 3D seismic, prior to making further drilling decisions.
Oil Search (Iraq) Limited

1 Oil Search's funding interest is 75%, with the KRG's 20% interest carried by Oil Search and Total E&P Kurdistan Region of Iraq (Taza) B.V.

PETER BOTTEN, CBE Managing Director

For further information please contact:

Ms Ann Diamant
Group Manager, Investor Relations
Tel: +61 2 8207 8440
Mob: +61 407 483 128

Oil Search - August Drilling Report - 3 September 2015

www.oilsearch.com

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