August 11, 2005
Revisions of the Financial Forecasts for the year ending March 31, 2006
INPEX CORPORATION (INPEX) announced revised forecasts for its consolidated andnon-consolidated financial results for the year ending March 31, 2006, which were previously
announced in May 17, 2005, along with the financial results for the year ended March 31, 2006.
1. Revisions of the forecasts for consolidated financial results for the six months ending September 30,2005(Millions of yen)
Net Sales
Ordinary income
Net income
Previous Forecasts: Ａ
237,000
129,000
37,000
Revised Forecasts: Ｂ
286,000
163,000
48,000
Increase (Decrease): Ｂ−Ａ
49,00034,00011,000Rate of increase (%)
20.7
26.4
29.7
Reference:
Consolidated Financial Results forthe six months ended September
30, 2004
213,939
110,316
33,017
2. Revisions of the forecasts for non-consolidated financial results for the six months ending September
30, 2005(Millions of yen)
Net Sales
Ordinary income
Net income
Previous Forecasts: Ａ
99,00057,00025,000
Revised Forecasts: Ｂ
113,000
71,00033,000
Increase (Decrease): Ｂ−Ａ
14,00014,0008,000
Rate of increase (%)
14.1
24.632.0
Reference:Non-consolidated Financial Results
for the six months ended
September 30, 2004
95,22250,666
21,741

3.

Revisions of the forecasts for consolidated financial results for the year ending March 31, 2006
(Millions of yen)
Net Sales
Ordinary income
Net income
Previous Forecasts: Ａ
437,000
219,000
59,000
Revised Forecasts: Ｂ
556,000
318,000
93,000
Increase (Decrease): Ｂ−Ａ
119,000
99,00034,000Rate of increase (%)
27.2
45.2
57.6
Reference:
Consolidated Financial Results forthe year ended March 31, 2005
478,586
258,631
76,493

4. Revisions of the forecasts for non-consolidated financial results for the year ending March 31, 2006
(Millions of yen)
Net Sales
Ordinary income
Net income
Previous Forecasts: Ａ
182,000
96,00042,000
Revised Forecasts: Ｂ
217,000
129,000
60,000
Increase (Decrease): Ｂ−Ａ
35,00033,00018,000Rate of increase (%)
19.2
34.4
42.9
Reference:Non-consolidated Financial Results
for the year ended March 31, 2005
202,729
112,584
50,765
5. Reasons for the revisions
Compared with the forecasts previously announced in May 17, 2005, ordinary income and net
income for the six months ending September 30, 2005 and the year ending March 31, 2006 will likely
expand considerably based on the expected increase in net sales due to a rise in the price of crude oiland depreciation of yen.
The above forecasts are calculated based on the following assumptions:
Previous Forecasts
Revised Forecasts
Crude Oil PriceFirst Half(April 1, 2005-September
First Half (April 1, 2005-September(Brent)
30, 2005) : US$ 44/bbl
30, 2005) : US$53.90/bbl
Second-Half(October 1, 2005-March Second-Half(October 1, 2005- March31, 2006) : US$ 34/bbl
31, 2006) : US$45.00/bbl
Full Year(April 1, 2005- March 31,Full Year(April 1, 2005- March 31,2006) : US$ 39/bbl
2006) : US$ 49.45/bbl
ndExchange rates¥100/US$1
2 Quarter(July 1, 2005- September30, 2005): ¥110/US$1
Second-Half(October 1, 2005- March31, 2006): ¥105/US$1

Note : Our sales crude oil prices are different in each crude and there are also price difference
between our sales crude oil price and Brent price. Price differential are caused by its quality and its
pricing range is not constant due to the market conditions. Most of our sales crude oil prices arelower than Brent price.

*The aforementioned forecasts are based on currently available information and contain many
uncertainties. Changing business conditions may cause actual results to differ from the above forecasts.