Woodside Petroleum Ltd., Operator of the AC/L5 Joint Venture, reports that the Laminaria North-1 exploration well located in the Timor Sea has been drilled to 3420 meters and final logs have been run. There were no hydrocarbons encountered and the well will be plugged and abandoned.
Woodside’s interest in this well is 66.67% with Shell Development (Australia) Proprietary Limited holding 33.33%. BHP-Billiton Petroleum (Northwest Shelf) Pty Ltd, the other participant in the AC/L5 Joint Venture, elected not to participate in the drilling of this well.
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