WOODSIDE PETROLEUM LIMITED 2002-10-11 ASX-SIGNAL-GHOMEX -...

WOODSIDE PETROLEUM LIMITED 2002-10-11 ASX-SIGNAL-G

HOMEX - Perth

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Woodside Mauritania Pty Ltd, Operator of the Mauritania PSC B Joint
Venture, reports that on 11 October 2002 the Chinguetti-4-4 appraisal
well is currently running wireline logs at the total depth of 2986
metres.

Since the last report, a 12(1/4) inch hole was drilled to total depth
and acquisition of wireline evaluation logs commenced.

A preliminary evaluation of the wireline log data indicates that the
well has intersected several oil-bearing sandstones in the primary
objective over a gross hydrocarbon interval of 113.5 metres within
the well. Wireline sampling has recovered oil to surface. Following
the completion of the logging programme it is planned to plug and
abandon the well and return to the temporarily suspended
Chinguetti-4-2 well to complete plugging and abandonment operations.

After analysis of the Chinguetti-4-4 well results and the
Chinguetti-4-2 core data it has been decided by the JV not to
complete the planned second zone production test on the
Chinguetti-4-2 well. Results collected to date have given the joint
venture confidence to proceed with the further study of the
Chinguetti opportunity without the second production test.

Participants in the Area B PSC are as follows:

Woodside Mauritania Pty Ltd 35.0% (Operator)
AGIP Mauritania BV 35.0%
Hardman Resources Ltd 21.6%
Fusion Oil and Gas NL 6.0%
Roc Oil (Mauritania) Company 2.4%