Woodside Spuds Bounty-2 Well

Woodside Petroleum reports that the Bounty-2 near field exploration well located in the Carnarvon Basin was spudded last week. On January 20, 2004 the well was drilling ahead at 510 meters in 14-3/4 inch hole.

Diamond Offshore's semisub, Ocean Epoch, is drilling the well. The location is approximately 150 kilometers north of Dampier and 3 kilometers south of the proposed Mutineer development drilling manifold. Water depth at the location is 152 meters. Planned total depth is approximately 3,730 meters.

All reported depths (except water depth) are referenced to the rig rotary table.

Santos is the operator of WA-191-P with 33.3977%; Woodside holds 8.2%; Kufpec Australia holds 33.4023% and Nippon Oil holds the remaining 25%.