PSC-B Partners Make Discovery with Chinguetti 4-6 Tiof Well

Woodside reports that preliminary wireline log results indicate a gross gas column of approximately 48 meters and a minimum gross oil column of 38 meters was discovered by the Chinguetti 4-6 Tiof well. Data acquisition and analysis operations are continuing. The well reached a final total depth of approximately 2,870 meters. The partners are continuing with the acquisition of wireline logs and samples.

Participants in the Area B PSC are Woodside Mauritania Pty Ltd as operator with 35.0%; AGIP Mauritania BV with 35.0%; Hardman Resources Ltd with 21.6%; Fusion Mauritania B Limited with 6.0%; Roc Oil (Mauritania) Company with 2.4%. The Government of Mauritania has the right to back in to 12% equity in developments producing up to 75,000 barrels of oil per day.