3 June 2002 Number: 35/02 BHP BILLITON ANNOUNCES HYDROCARBON DISCOVERY IN DEEPWATER GULF OF MEXICO, US BHP Billiton today announced it had completed drilling of an exploratory well on its Cascade prospect in the ultra-deepwater Gulf of Mexico, United States. The well, Cascade-1, encountered an encouraging hydrocarbon column. Drilling on Cascade-1 began January 31 2002, in Walker Ridge Block 206 using the BHP Billiton-operated drillship C.R. Luigs. Whole cores were taken in the well, which was drilled in waters approximately 8,200 feet deep to a total depth of 27,929 feet (from the deck of the drillship). The significance of the well will be assessed following further evaluation of drilling and resource data. Further drilling will be necessary to determine the size of the find. BHP Billiton owns a 50 percent interest and is the operator of Cascade, with Petrobras and Devon Energy Corporation each holding a 25 percent interest. The Cascade prospect lies approximately 35 miles south-southwest of the Mad Dog and Atlantis oil and gas discoveries where earlier this year BHP Billiton approved funding to advance these fields into development and production. Further information can be found on our Internet site: http://www.bhpbilliton.com Australia Andrew Nairn, Investor Relations Tel: +61 3 9609 3952 Mobile: +61 408 313 259 mailto:Andrew.W.Nairn@bhpbilliton.com Mandy Frostick, Media Relations Tel: +61 3 9609 4157 Mobile: +61 419 546 245 mailto:Mandy.J.Frostick@bhpbilliton.com United States Francis McAllister, Investor Relations Tel: +1 713 961 8625 Mobile: +1 713 480 3699 mailto:Francis.R.McAllister@bhpbilliton.com United Kingdom Mark Lidiard, Investor & Media Relations Tel: +44 20 7747 3956 mailto:Mark.T.Lidiard@bhpbilliton.com South Africa Michael Campbell, Investor & Media Relations Tel: +27 11 376 3360 Mobile: +27 82 458 2587 mailto:Michael.J.Campbell@bhpbilliton.com BHP Billiton Limited ABN 49 004 028 077 Registered in Australia Registered Office: 600 Bourke Street Melbourne Victoria 3000 Telephone +61 3 9609 3333 Facsimile +61 3 9609 3015 BHP Billiton Plc Registration number 3196209 Registered in England and Wales Registered Office: 1-3 Strand London WC2N 5HA United Kingdom Telephone +44 20 7747 3800 Facsimile +44 20 7747 3900 A member of the BHP Billiton group which is headquartered in Australia