Bounty-2 Well Runs into Minor Delay

Woodside Petroleum reports that the Bounty-2 well, located in the Carnarvon Basin, was retrieving a stuck wireline logging tool.

An 8-1/2 inch hole has been drilled from 2,950 meters to a total depth of 3,811 meters, and the wireline logging program commenced.

Preliminary wireline log analysis indicates the presence of two modest oil columns in the Angel Formation, the significance of which is being further investigated.

The well is being drilled by Diamond Offshore's semisub, Ocean Epoch. All reported depths are referenced to the rig rotary table.

Woodside’s interest in WA-191-P is 8.2%. Other participants are Santos Ltd. (Operator, 33.3977%), Kufpec Australia Pty. Ltd. (33.4023%) and Nippon Oil Exploration (Dampier) Ltd. (25.0%).