August 10, 2007
Company Name: Japan Petroleum Exploration Co., Ltd.
Company Code : 1662
President: Yuji Tanahashi
Inquiries: Shigeyoshi Hasegawa, Manager, Media Relations, Media and Investor Relations Department
TEL: (03) 6268-7110

Notice of Financial Forecast Revision for Fiscal Year Ending March 31, 2008
Based on recent business performance, Japan Petroleum Exploration Co., Ltd. (hereinafter the “Company”)
hereby revises its financial forecast for the fiscal year ending March 31, 2008 (April 1, 2007 - March 31, 2008)
as set forth in the “Consolidated Financial Results” dated May 14, 2007 as follows.
1. Revision to consolidated forecast for fiscal 2008 (April 1, 2007 - March 31, 2008)(1) Revised forecast for the interim of Fiscal 2008 (April 1, 2007 - September 30, 2007)(Unit: ¥Million, %)Net Sales

Operating

Ordinary

IncomeIncomeNet Income

Net Income
per Share

Original forecast(A)

73,426

4,595

8,561

6,448

¥112.82

Revised forecast(B)

89,241

7,758

12,501

9,158¥160.24

Change in amount(B－A)

15,815

3,163

3,940

2,710

¥47.42Rate of change(%)

21.5

68.8

46.0

42.0

42.0

67,13812,52815,75010,654¥186.42

FY2007 Interim(2) Revised forecast for Fiscal 2008 (April 1, 2007 - March 31, 2008)(Unit: ¥Million, %)Net Sales

Original forecast

OperatingOrdinary

IncomeIncomeNet Income

Net Income
per Share(A)

155,760

11,964

17,65813,293¥232.58

Revised forecast(B)

182,343

14,127

22,177

17,006¥297.55

Change in amount(B－A)

26,583

2,163

4,519

3,713

¥64.97

Rate of change(%)

17.1

18.1

25.6

27.9

27.9

170,018

29,71934,70520,982¥367.12FY2007 Full Year1

2. Revision to non-consolidated forecast for fiscal 2008 (April 1, 2007- March 31, 2008)(1) Revised non-consolidated forecast for the interim of Fiscal 2008 (April 1, 2007 - September 30, 2007)(Unit: ¥Million, %)Net Sales

Operating

Ordinary

IncomeIncomeNet Income

Net Incomeper Share

Original forecast(A)

62,990

7,381

7,397

5,832

¥102.04

Revised forecast(B)

72,932

8,751

9,583

7,589

¥132.78

Change in amount

(B－A)

9,942

1,370

2,186

1,757

¥30.74Rate of change(%)

FY2007 Interim

15.8

18.6

29.6

30.1

30.1

46,7907,418

11,565

9,369¥163.94(2) Revised non-consolidated forecast for Fiscal 2008 (April 1, 2007 - March 31, 2008)(Unit: ¥Million, %)Net Sales

Operating

Ordinary

IncomeIncomeNet Income

Net Income
per Share

Original forecast(A)

130,907

16,96018,45615,183¥265.66

Revised forecast(B)

150,648

18,155

19,653

16,437¥287.59

Change in amount(B－A)

19,741

1,195

1,197

1,254

¥21.93Rate of change

(%)

15.1

7.0

6.5

8.3

8.3

122,129

18,402

23,84815,645¥273.75

FY2007 Full Year

3. Reason for Revision
The original forecast was based on price of $55 per barrel for the crude oil CIF price, and an exchange rate of¥115/$, however results for the first quarter reporting period came to $61.10 per barrel and ¥118.79/$.
Based on the recent trends of the price of oil, the forecasts for after July for the crude oil CIF price and theexchange rate have been changed to $65 per barrel and ¥120/$ respectively and the interim and full year
forecasts for the fiscal year ending March 31, 2008 have been revised accordingly.
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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