Woodside & Pioneer Begin Work at Roatan Prospect

Woodside Energy (USA) Inc. reports that the Roatan #1 exploratory well located in the Gulf of Mexico on Brazos Area Block 490 was spudded on February 16, 2003. Pioneer Natural Resources is the operator of the Roatan prospect and is using the Rowan Paris jackup to drill the well. Water depth at the location is approximately 69 feet. Planned total depth is approximately 16,000 feet (referenced to the rig rotary table).

The Roatan prospect is the first of five prospects that Woodside Energy (USA) Inc. and Pioneer Natural Resources USA Inc. have agreed to drill in 2003. Woodside and Pioneer each own a 50% interest in the well.