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WOODSIDE PETROLEUM MAKES OIL DISCOVERY OFF MAURITANIA.
AsiaPulse News, December, 2003
MELBOURNE, Dec 17 Asia Pulse - Woodside Petroleum Ltd (ASX:WPL) has made a second oil discovery 8km from its Tiof-1 well off Mauritania in West Africa, with initial analysis suggesting the sites could be linked.
If further tests confirm the link analysts say the field's reserve potential would exceed its original 200 million barrel estimate and the area could become the big oil story for 2004.
Woodside shares rose 11 cents to A$14.41 following reports of the discovery yesterday, while shares in joint venture partner Hardman Resources Ltd lifted eight cents or more than 12 per cent to 74 cents.
Hardman chief executive Ted Ellyard said while it "was still early days" the discovery was exciting and could indicate the reserve was larger than the 200...
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