2009-08-15-2008-11-01-2008-11-01

Bought exploration rights to 7.8MM-acre onshore Block CPE-5 in Llanos Basin, will hold 71.4%.

BHP Billiton Petroleum, Houston, (NYSE: BHP) has acquired exploration rights to an onshore block of approximately 7.8 million acres in the Llanos Basin, Colombia. BHP will explore Block CPE-5, of which it holds 71.4% interest. SK Energy, an affiliate of Seoul, South Korea-based SK Group, holds the remaining 28.6%. BHP will undertake a three-year exploration program including seismic acquisition and processing and exploration drilling. BHP Billiton Petroleum president, exploration, Steve O'Rourke says, "We are extremely pleased with this result. The Colombian government ran a very successful bid round and the (national oil ministry) recognized that this type of frontier exploration requires access to large acreage tracts. We look forward to extending the known limits of the highly prolific Llanos Basin over the next three years."