ROC STARTS 2001 DRILLING PROGRAM

The commencement of an appraisal well in the Chestnut Field in the UK North Sea and recommencement of drilling activity at the Eskdale-13 appraisal well location, onshore UK, mark the start of ROC's 2001 drilling program.

ROC expects to have interest in a total of 10 wells to be drilled during 2001 of which 5 will be exploration wells (Attachment 1). The two current drilling operations are detailed below.

1. CHESTNUT FIELD APPRAISAL WELL (ROC: 29.75%, carried)
The Chestnut appraisal well, provisionally called, 22/2A-P, started drilling on 16 February 2001. If the well is successful it will be subject to an Extended Well Test ("EWT"). The well and EWT are being funded 100% by Brovig Production Services under terms of a farmin agreement with the Chestnut Joint Venture including ROC's UK subsidiary through which ROC holds its interest. For details of the farmin see ROC's release to ASX dated 11 September 2000.

2. ESKDALE-13 (ROC 5%, carried)
Following the drilling of the up hole section at the end of last year and the scheduled break in activity during January and early February 2001, drilling operations recommenced on 11 February and, as of the latest report made available to ROC, the well was at a depth of 567 metres.

Dr John Doran
Chief Executive Officer
E-mail: jdoran@rocoil.com.au

Return to ASX Releases main page