Deepwater GOM USA

BHP Billiton Limited
3 June 2002

     BHP Billiton Limited is issuing this announcement to fulfil disclosure
  obligations arising from its secondary listing on the London Stock Exchange.

    The text of this release is identical to that issued by BHP Billiton Plc
                                    earlier.




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                                       United Kingdom
Andrew Nairn, Investor Relations                Mark Lidiard, Investor & Media Relations
Tel: + 61 3 9609 3952 Mobile: [phone]   Tel: [phone]
email: [e-mail]           email: [e-mail]

Mandy Frostick, Media Relations                 South Africa
Tel: [phone] Mobile: [phone]    Michael Campbell, Investor & Media Relations
email: [e-mail]         Tel: [phone] Mobile: [phone]
                                                email: [e-mail]
United States
Francis McAllister, Investor Relations
Tel: [phone] Mobile: [phone]
email: [e-mail]


BHP Billiton Limited ABN 49 004 028 077         BHP Billiton Plc Registration number 3196209
Registered in Australia                         Registered in England and Wales
Registered Office: 600 Bourke Street            Registered Office: 1-3 Strand 
Melbourne Victoria 3000                         London WC2N 5HA United Kingdom                   
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              The BHP Billiton Group is headquartered in Australia



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