Drilling Program Delayed Offshore Kenya

Woodside Energy Ltd (50% and operator in blocks L5 and L7 offshore Kenya) has advised that due to a worldwide shortage of suitable deepwater drilling vessels, it looks unlikely that a rig will be able to be sourced in time for drilling in the fourth quarter of the year. The high demand for deepwater rigs is driven by the increase in oil and gas exploration being undertaken around the world as a result of high oil prices.

Woodside is actively seeking a rig for Kenya drilling and has indicated the second quarter of 2006 as a likely drilling date of the first well which is presently targeted to be in Block L-5.

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