August 7, 2009
Note: The following report is an English translation of the Japanese-language original.

Company Name: Japan Petroleum Exploration Co., Ltd.
Securities Code: 1662
President: Osamu Watanabe
Inquiries: Shigeyoshi Hasegawa, Manager, Media Relations, Media and Investor Relations Department
TEL: (03) 6268-7110

Notice of Financial Forecast Revision
Based on recent business performance, Japan Petroleum Exploration Co., Ltd. (hereinafter the “Company”) hereby
revises its financial forecast announced on May 14, 2009, as follows.
Revision to consolidated forecast for the six months ending September 30, 2009(April 1, 2009 - September 30, 2009)(Unit: ¥Million)
Net Sales

Operating
IncomeOrdinary
IncomeNet Income

Net Income
per SharePrevious forecast(A)

59,903(2,008)

14791

¥1.59

Revised forecast(B)

69,913

1,334

3,043

2,105

¥36.83

Change in amount(B－A)

10,010

3,342

2,896

2,014

－

Rate of change

(%)

16.7

－

1,970.1

2,213.2－

110,912

12,546

13,321

9,371¥163.96(Reference) FY2009 1Q-2Q

Revision to consolidated forecast for Fiscal 2010 (April 1, 2009 - March 31, 2010)(Unit: ¥Million)
Net Sales
Previous forecast(A)

129,313

Revised forecast(B)

Change in amount(B－A)

Rate of change(%)(Reference) FY2009 Full Year

Operating
IncomeOrdinary
IncomeNet Income

Net Income
per Share

4,726¥82.69931

5,919

153,422

6,454

10,7487,744¥135.50

24,109

5,523

4,829

3,018

－

18.6

593.2

81.6

63.9

－

202,127

20,09022,35812,560¥219.771

Revision to non-consolidated forecast for the six months ending September 30, 2009 (April 1, 2009 - September 30, 2009)(Unit: ¥Million)
Net Sales

Operating
IncomeOrdinary
IncomeNet Income

Net Income
per SharePrevious forecast(A)

47,6021,424

1,836

1,589

¥27.81

Revised forecast(B)

56,525

3,385

5,376

4,674

¥81.79Change in amount

(B－A)

8,923

1,961

3,540

3,085

－

Rate of change(%)

18.7

137.7

192.8

194.1

－

84,014

9,601

18,234

15,521¥271.58(Reference) FY2009 1Q-2Q

Revision to non-consolidated forecast for Fiscal 2010 (April 1, 2009 - March 31, 2010)(Unit: ¥Million)
Net Sales
Previous forecast(A)

104,159

Revised forecast(B)

Change in amount(B－A)

Rate of change(%)(Reference) FY2009 Full Year

OperatingIncome

OrdinaryIncome

Net Income

Net Income
per Share6,890

10,4139,793¥171.35

123,429

9,395

14,481

13,255¥231.92

19,270

2,505

4,068

3,462

－

18.5

36.4

39.1

35.4

－

157,818

13,03725,445

18,571¥324.95

Reason for Revision
The previous forecast was based on price of $40 per barrel for the Japan Crude Cocktail (JCC) price, and an
exchange rate of ¥90/$, however results for the-1Q (April 1 2009 - June 30, 2009) came to $47.92 per barrel and¥97.69/$. The revised forecast is based on the recent trends of the price of oil, actual results in the-1Q and theassumption for the 2Q-4Q (July 1 2009 - March 31, 2010) at $60 per barrel. The exchange rate assumption for the2Q-4Q at ¥90/$ is not revised.

Note with respect to financial forecasts:
Forecasts announced by the Company referred to above were prepared based on management’s assumptions with information
available at this time and it is possible that the actual results will be different to the forecast figures because of various factors that
could occur in the future.

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