Woodside Begins Drilling Poune Well Offshore Mauritania

Woodside reports that the Chinguetti-4-6 (Tiof) well was plugged and abandoned, as planned, on November 15, 2003.

The West Navigator has since moved to the Chinguetti-5-1 (Pouné) well location in Block 5 offshore Mauritania. Water depth at the location is approximately 920 meters. Planned total depth is approximately 3,250 meters. The Pouné prospect is located approximately 48 kilometers to the north of the Chinguetti Field and 27 kilometers to the northeast of the Tiof oil and gas discovery.

The Chinguetti-5-1 (Pouné) exploration well was spudded on November 16, 2003. Subsequently, a 26 inch hole was drilled to 1,709 meters and, on November 18, 2003, preparations had commenced to run 20 inch casing.

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%; and Roc Oil (Mauritania) Company with the remaining 2.4%.