Woodside Logs Pay with Egret-3

Woodside Petroleum reports that preliminary wireline logs indicate that the Egret-3 exploration and appraisal well has encountered a 48-meter gross hydrocarbon column at 2,248 meters in the Angel Formation. Further tests to evaluation the find will be carried out with a wireline pressure testing and sampling program. Due to adverse hole conditions, however, drilling has continued in the 12-1/4 inch hole prior to conducting the additional wireline logging runs. The current operation is drilling ahead at 3,511 meters. Upon completion of the wireline logging, drilling will continue to test the deeper exploration objective of the well. The well is located in the Carnarvon Basin offshore Australia.

Woodside is operator of WA-10-R and has a 16.67% interest; BHP Billiton Petroleum (North West Shelf) Pty Ltd. holds 16.67%; BP Developments Australia Ltd. holds 16.67%, ChevronTexaco Australia Pty Ltd holds 16.67%, Japan Australia LNG (MIMI) Pty Ltd. holds 16.67% and Shell Development (Australia) Pty Ltd. holds the other 16.67%. Three of the six permit holders - Woodside, BHP Billiton Petroleum (North West Shelf) Pty Ltd. and Japan Australia LNG (MIMI) Pty Ltd - are equal sole risk participants in testing the deeper exploration objective of the well.


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