August 5, 2009

Revisions of the Financial Forecasts

INPEX CORPORATION (the Company) hereby announces its consolidated financial forecasts for thesix months ending September 30, 2009, which was not disclosed in the ‘Consolidated Financial Results
for the year ended March 31, 2009’ on May 13, 2009, as the Company concluded that the sales prices ofcrude oil and business circumstances could now be estimated to a certain extent as the first quarter of thefiscal year has passed..
In addition, we have revised its consolidated financial forecasts for the year ending March 31, 2010.
1. Forecasts for consolidated financial results for the six months ending September 30, 2009
Net sales

Operatingincome

Ordinary
incomeNet income

Net income
Per share

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

－－－－－

360,000

169,000

162,000

36,00015,296.41

Increase (Decrease): B－A－－－－－

Percentage change (%)－－－－－

741,594503,721479,426

104,028

44,155.91

Net income
Per sharePrevious Forecasts: A
Revised Forecasts: B

Reference:
Consolidated Financial results for thesix months ended September 30, 20082. Forecasts for consolidated financial results for the year ending March 31, 2010
Net sales

OperatingincomeOrdinary
incomeNet income

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

669,000

301,000

281,000

56,00023,794.41

Revised Forecasts: B

720,000

316,000

296,000

56,00023,794.41

Increase (Decrease): B－A

51,00015,00015,0000－

7.6

5.0

5.3

0－

1,076,164

663,266

616,166

145,062

61,601.60

Previous Forecasts: A

Percentage change (%)
Reference:
Consolidated Financial results for theyear ended March 31, 2009

3. Reasons for the revisions
Forecasts for consolidated financial results for the six months ending September 30, 2009 had been
undecided since business circumstances were extremely uncertain under the risk of volatile swings insales prices of crude oil at the time of announcing ‘Consolidated Financial Results for the year ended
March 31, 2009.’ However, the Company concluded that the sales prices of crude oil and businesscircumstances could now be estimated to a certain extent as the first quarter of the fiscal year has passed.
Forecasts for consolidated financial results for the year ending March 31, 2010 have been revised
considering the consolidated financial results for the three months ended June 30, 2009.
The above forecasts are calculated based on the following assumptions:
Previous Forecasts(Full Year)
Crude Oil Price(Brent)

Full Year (April 1, 2009- March 31, 2010) :US$ 52.5/bbl

Exchange rate

Full Year (April 1, 2009- March 31, 2010) :¥95/US$1

Revised Forecastsnd(2 Quarter / Full year)
April to July: US$61.1/bbl
August to March 2010: US$55.0/bbl
Full Year (April 1, 2009- March 31, 2010) :US$57.0/bbl
April to July: ¥96.8/US$1
August to March 2010: ¥95.0/US$1
Full Year (April 1, 2009- March 31, 2010) :¥95.6/US$1

Note: The previous forecasts’ assumptions of crude oil price US$ 52.5/bbl were the average of
US$ 50.0/bbl (first-half year) and US$ 55.0/bbl (second-half year). Therefore, the forecasts’ assumptionsof crude oil price for the second half year have not changed in current revised forecasts.
Crude oil prices at which the Company sells products depend on the type of crude oil, and there are also
price differences between the crude oil price and Brent price. Price differences are caused by its quality
and its pricing range which is affected by the market conditions. Most of the crude oil prices are lower
than Brent price.
* The aforementioned forecasts are based on currently available information and contain many
uncertainties. Changing business conditions including oil and gas price levels, production and sales
plans, projects development schedules, government regulations and financial and tax schemes may
cause actual results to differ from the above forecasts.