The survey covers 9 key leads mapped on the basis of the seismic data recorded in 2003, and is expected to be completed by mid January 2005.
Results for the survey will assist the Joint Venture (Woodside 50% and operator; Dana 30% and Global 20%) in reviewing prospects for drilling. It is the JV's expectation that the first well will be drilled in the 4th quarter of 2005.
The costs associated with Global's 20% holding in L-5 and L-7 are carried for all activities through the drilling and testing of two wells.
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