Antrim Energy (fka ATGYF)

[kraftdinner]

Woodside's POLKADOT-1 Update

TUESDAY, 28 SEPTEMBER 2004
Woodside Energy Ltd., a wholly-owned subsidiary of Woodside Petroleum Ltd. and Operator of the WA-313-P Joint Venture, reports that on 28 September 2004 the Polkadot-1 exploration well is being plugged and abandoned. It is anticipated that the rig will be released on 29 September 2004.

The POLKADOT-1 well appraised the Hyland Bay Formation down dip of the Penguin-1 gas discovery. A 4 metre gross gas-bearing interval was intersected and sampled by wireline tools only.

The well was deepened to evaluate exploration targets in the Keyling Formation and intersected two gas-bearing intervals.

Since the last report, the larger gas-bearing interval within the Keyling Formation was perforated over 19 metres and production tested. The tested interval did not flow hydrocarbons to surface and the results are being evaluated.

Woodside’s interest in WA-313-P is 50%. The other participant is Eni Australia B.V. (50%).