2009-08-13-2009-04-01-2009-04-01

Purchased additional interest in 2 offshore Western Australia blocks in Exmouth Basin.

Japanese E&P Inpex Corp. and Houston-based Apache Corp. (NYSE: APA) have acquired additional interest in two offshore Western Australia blocks in the Exmouth Basin from BHP Billiton Ltd., Melbourne, Australia (NYSE: BHP) for an undisclosed price. Inpex will acquire an additional 19% interest in licenses WA-35-L (excluding the Van Gogh-defined area), increasing its total to 47.45%, and a 23.75% interest in WA-255-P. Apache will acquire an additional 21% interest in WA-35-L, increasing its total to 52.5%, and a 26.2% interest in WA-255-P, Block 1081. Woodside Energy Ltd. holds the remaining 50% interest. No time table has been determined to drill appraisal wells on the acquired assets, according to Apache. The excluded Van Gogh defined area is held 52.5% by Apache and 47.5% by Inpex. Apache reports the development is expected to begin producing in the second quarter at an anticipated level of 20,000 barrels of oil per day.