This option entitlement lapses on 20 November, 2004.

“In the event that the Government does exercise its right in this respect it will be responsible for its share of development and past exploration costs associated with the Chinguetti Oil Field,” said Roc CEO John Doran.

Woodside, Hardman and ROC are drilling in three Mauritanian offshore production sharing contract areas (PSCs) with various other partners. Woodside is the operator in each of these areas.

Yesterday Woodside reported that in PSC-B preparations to flow-test the Tiof-3 ST2 appraisal well are continuing. At the Capitaine-1A Exploration Well the “Stena Tay” rig drilled the 12-1/4 inch hole to 2718 metres where 9-5/8 inch casing was set.

At midnight on 1 November the rig was preparing to run a casing hanger seal assembly before drilling ahead in 8-1/2 inch hole to the planned total depth of approximately 3125 metres. All reported drilling depths are referenced to the rig rotary table and all times are Mauritanian time.

Interests in the PSC A block are: Woodside 53.846%, Hardman 24.3%, BG group 13.084%, Fusion Mauritania A Ltd 4.615% and ROC Oil 4.155%. Interests in the PSC B block (which includes Tevet) are: Woodside group companies 53.846%, Hardman group companies 21.6%, BG 11.63%, Premier group 9.231% and ROC 3.693%. Interests in the PSC C block (which includes Dorade) are: Woodside group companies 48%, Hardman group companies 28.8%, Energy Africa 20% and ROC 3.2%.