Woodside to sell interest in Kipper gas field

Woodside Petroleum Ltd's wholly owned subsidiary Woodside Eastern Energy Pty Ltd has agreed to sell its interest in the Kipper gas field in the Victorian Gippsland Basin to Santos Offshore Pty Limited.

The sale of Woodside's 30 per cent interest in VIC/RL2 to Santos still remains subject to registration and approval by Australian regulatory authorities.

THE FULL ASX ANNOUNCMENT APPEARS BELOW.

ASX ANNOUNCEMENT

SALE OF KIPPER INTEREST


Woodside Petroleum Ltd., advises that its wholly owned subsidiary Woodside Eastern Energy Pty
Ltd has agreed to sell its interest in the Kipper gas field in the Victorian Gippsland Basin to Santos
Offshore Pty Limited.

The sale of Woodside's interest in VIC/RL2 (30%) to Santos is effective from 1 July 2005 and is
subject to registration and approval by Australian regulatory authorities.