Looks like the drill rig is going to be on site,Woodada19, till...

Looks like the drill rig is going to be on site,Woodada19, till the 28th may,another 7 days.
Why hang around so long when the drilling is all but finished.

Announcement from the ASX,21/5/2002. HDR

Document date: Tue 21 May 2002 Published: Tue 21 May 2002 19:21:17
Document No: 216556 Document part: A
Market Flag: N
Classification: Progress Report - Other
ARC ENERGY NL 2002-05-21 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
The Hovea joint venture partners (ARC Energy NL (50%) and Origin
Energy Developments Pty Limited (Origin) (50%)) (JV) have now
commenced construction of the Hovea 2 well pad and are close to
finalisation of the well plan.

The Century drilling rig, which is to be used to drill the Hovea 2
well, is currently drilling the Woodada 19 well for Hardman Resources
Ltd. The Hovea JV will take the rig on the completion of this well.
This is now expected to be early next week due to the Woodada 19 well
taking considerably longer than programmed including the running of
several drill stem tests (DST's). At the completion of Woodada 19 the
rig will be moved to the Hovea 2 location.

The anticipated timing of the spud date for Hovea 2 is therefore as
set out below.

Rig release from Woodada 19: 28 May 2002
Moving/Rig up and rig inspection time at Hovea 2: 10 days
Current most likely spud date for Hovea 2: 7 June 2002



FURTHER INFORMATION

It is anticipated that further information on timing, the proposed
well plan and anticipated drilling times will be made available later
this week.

Further information may be obtained from the Company's website at
www.arcenergy.com.au or by calling Eric Streitberg, the Managing
Director on Freecall 1 800 337 330.

E Streitberg
MANAGING DIRECTOR

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