Oil Discv at Puma Well

BHP Billiton Limited
13 January 2004

     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.



Date: 13 January 2004
Number:  01/04



                             BHP BILLITON ANNOUNCES

             OIL DISCOVERY AT PUMA WELL IN DEEPWATER GULF OF MEXICO


BHP Billiton today announced that it had completed drilling the Puma-1
exploration in the deepwater Gulf of Mexico.

The well encountered approximately 500 feet of net oil pay in Miocene
sandstones, and two subsequent sidetrack bores also encountered oil in reservoir
intervals of a similar age.

Steve Bell, President, Exploration and Business Development said today: 'The
drilling result is encouraging, however, the well was drilled in a structurally
complex subsurface area and in a zone where seismic imaging data is of only
moderate quality.  Further seismic reprocessing and appraisal drilling will be
necessary to evaluate the size and significance of the discovery'.

Drilling on Puma-1 began on August 14 2003 on Block GC 823 in the Western
Atwater Foldbelt using the BP-operated Ocean Confidence drillship.  The well is
located 140 miles from the Louisiana coast and eight miles from the company's
Mad Dog development.  The well was drilled to a total measured depth of 19,034
feet in a water depth of 4130 feet.  Technical data was taken from the straight
hole and sidetrack bores.

BHP Billiton has a 33.34% interest in Puma with BP (operator) 51.66% and Unocal
15%.



Further information on BHP Billiton can be found on our Internet site: 
http://www.bhpbilliton.com


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