November 4, 2009

Announcement of Differences between Consolidated Financial Forecasts and Actual
Financial Results for the six months ended September 30, 2009 andRevision of Consolidated Financial Forecasts for the year ending March 31, 2010

INPEX CORPORATION (the Company) hereby announces differences between its consolidated
financial forecasts for the six months ending September 30, 2009 which was disclosed on August 5, 2009
and the actual results disclosed today in the “Consolidated Financial Results for the Six Months ended
September 30, 2009.”
In addition, the Company revised its consolidated financial forecasts for the year ending March 31,
2010 which was disclosed on August 5, 2009.
1. Differences between consolidated financial forecasts and actual financial results for the six months
ended September 30, 2009
Net income
Per share

Net sales

OperatingincomeOrdinary
incomeNet income

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

360,000

169,000

162,000

36,00015,296.41

Actual Results: B

392,606

202,284

193,308

47,645

20,244.57

Increase (Decrease): B－A

32,60633,28431,308

11,645－

9.1

19.7

19.3

32.3－

741,594503,721479,426

104,028

44,155.91

Net income
Per sharePrevious Forecasts: A

Percentage change (%)
Reference:
Consolidated financial results for thesix months ended September 30, 2008

2. Revision of consolidated financial forecasts 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

720,000

316,000

296,000

56,00023,794.41

Revised Forecasts: B

778,000

388,000

372,000

86,00036,541.41

Increase (Decrease): B－A

58,00072,00076,00030,000－8.1

22.825.7

53.6－

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 differences and the revisions
Financial results for the six months ended September 30, 2009 have exceeded the financial forecasts
disclosed on August 5, 2009, because crude oil prices were higher than the assumptions used in theprevious forecasts and some parts of exploration costs that were planned to spend within the 2nd quarter
were deferred to the 3rd quarter or later.
Consolidated financial forecasts for the year ending March 31, 2010 have been revised taking into
consideration the consolidated financial results for the six months ended September 30, 2009 as well as
the revised assumptions of crude oil prices, exchange rate and so on.
The above forecasts are calculated based on the following assumptions:

Crude Oil Price(Brent)

Exchange rate

Previous Forecasts
1st Half (April 1, 2009-September 30,2009) : US$ 59.0/bbl
2nd Half (October 1, 2009- March 31,2010) :US$ 55.0/bbl
Full Year (April 1, 2009- March 31, 2010) :Revised Forecasts
1st Half (April 1, 2009-September 30, 2009) :US$ 64.4/bbl (Actual)
2nd Half (October 1, 2009- March 31,2010) :US$ 65.0/bbl
Full Year (April 1, 2009- March 31, 2010) :US$57.0/bbl
1st Half (April 1, 2009-September 30,2009) : ¥96.2/US$1
2nd Half (October 1, 2009- March 31,2010) : ¥95.0/US$1
Full Year (April 1, 2009- March 31, 2010) :US$64.7/bbl
1st Half (April 1, 2009-September 30, 2009) :¥95.5/US$1 (Actual)
2nd Half (October 1, 2009- March 31, 2010) :¥90.0/US$1
Full Year (April 1, 2009- March 31, 2010) :¥95.6/US$1¥92.8/US$1

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, exchange rates such as
Yen/US$ rate, production and sales plans, projects development schedules, government regulations andfinancial and tax schemes may cause actual results to differ from the above forecasts.