Woodside Spuds Algerian Exploration Well

Woodside reports that the Rhourde El Rouni Central-1 (RERC-1) onshore exploration well located in the Rhourde Seghir block 401d, Algeria, was spudded on May 2, 2004. The RERC-1 well is situated in the Berkine Basin, some 900km southeast of the capital, Algiers.

The RERC-1 well is being drilled by drilling contractor Saipem using the National 110 AZ 5893 onshore drilling rig. Planned total depth is approximately 3,370 metres (referenced to the rig rotary table).

Immediately following the RERC-1 well, a second onshore exploration well, RERW-1, is planned to be drilled in block 401d using the same drilling rig and drilling contractor. Planned total depth is approximately 3,240 metres (referenced to the rig rotary table).

The RERC-1 and RERW-1 prospects are located approximately 15km northeast of the ROD oil development, and 25km south of the existing El Borma pipeline.

Woodside's current interest in block 401d is 35%. Other participants are Repsol YPF (Operator, 55%) and Partex Oil and Gas (10%).