Woodside Not to Participate in Block L-10 Offshore Kenya

Woodside Block 10, Kenya
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Further to the announcement from Global Petroleum Limited that Woodside has elected to continue in Blocks L-5 and L-7 offshore Kenya, Global advises that Woodside has now elected not to continue to participate in Block L-10.

The remaining Joint Venturers in L-10 are UK based Dana Petroleum (E&P) Limited and Global Petroleum. It is Dana and Global's intention to seek an extension of the PSC terms from the National Oil Corporation of Kenya to enable the JV to introduce a new Farminee into the Block.

As a result of Woodside's earlier election to remain in L-5 and L-7, the costs associated with Global's 20% holding in those blocks are covered for all activities through the drilling and testing of two wells.

In regard to the other of the four Kenya Blocks, L-11, Woodside has until late 2005 to notify Global of its intentions.

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