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JX Nippon Acquires Interest in Two Exploration Permits in the North West Shelf Off Australia

Tokyo, June 4, 2013 (JCN) - JX Nippon Oil & Gas Exploration announced that its wholly owned Australian Subsidiary, JX Nippon Oil & Gas Exploration (Australia) has executed two Farmin Agreements with Tap (Shelfal) Pty Ltd for permits located in offshore North West Shelf Australia.

The terms of the Farmin Agreements provide that JX Australia will acquire a 10% participating interest in the WA-320-P and a 7% participating interest WA-155-P from Tap.

There is a structure straddling over the Permits in which JX Australia is hopeful of finding natural gas. As the first step of exploration moving forward, the partners expect to commence the drilling of an exploration well in WA-320-P in the 1st half of 2014.

Main interest in WA-320-P and WA-155-P is held by Apache Permits (the Operator) and OMV Australia.

JX Nippon is actively carrying out exploration and production activities in the North West Shelf offshore Australia, including the Mutineer Exeter field which is currently producing oil, as well as the Finucane South Field, which started production in this May.

By Chris Lui Staff Writer

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