Speculation on Taiwan LNG Deal

Woodside is aware of media speculation about a new liquefied natural gas (LNG) agreement with CPC Corp. of Taiwan. Woodside reiterates the comments made in a presentation to investors on 22 August 2007 that the company is in discussions with potential Asian buyers about significant volumes of LNG and that a key terms agreement may soon be signed. These discussions have included CPC.

If any of these negotiations are successful and a key terms agreement is concluded with CPC or any other buyer, Woodside will make the appropriate disclosure to the market.

A key terms agreement is a preliminary document which agrees the key commercial parameters normally included in a sale and purchase agreement, including LNG price. Under such an agreement, the parties would negotiate in good faith to conclude an LNG supply agreement based on the key terms. The agreement would be subject to a number of conditions.

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