NOVEMBER 2001- RELEASES
ACTIVITY UPDATE (29-11-01)

SUMMARY

· Saltfleetby-6 results exceed expectation confirming 22m of good quality gross gas sand in the previously undrilled southern part of the
x Saltfleetby Gas Field.
· Chestnut Extended Well Test ("EWT") completed.
· Offshore Senegal Seismic Survey continues.

1. DEVELOPMENT DRILLING

1.1 Saltfleetby Gas Field, Onshore UK (ROC: 100% & Operator)

Logging of the Saltfleetby-6 appraisal well has been completed confirming a gross vertical thickness of 22 metres of good quality gas bearing sand. In accordance with the original well plan, the punch through appraisal hole has been plugged back and a development sidetrack (Saltfleetby 6z) commenced at 2,704 metres. The sidetrack will build to near horizontal and is intended to drill an extended section of the reservoir sand updip from the reservoir intersected by the punch through hole. At 0600 hours, 28 November (UK time) drilling of the sidetrack was continuing at 2,920 metres at an inclination of 56 degrees.

2. DEVELOPMENT TESTING

2.1 Chestnut Oil Field EWT, UK North Sea (ROC: 14.875% carried)

On the 27 November 2001 at 0100 hours (UK time) the 22/2a-11x well was shut-in having produced a total of 1.1 million barrels of oil and 0.9 billion cubic feet of gas on EWT. These volumes are within the government approved maximum volumes allowed under the EWT consent previously granted to allow dynamic reservoir information to be collected from the Chestnut Field. The intention now is to decommission the EWT vessel and shuttle tanker and associated equipment and consider the options for the potential development of the field.

3. EXPLORATION

3.1 WA-286-P, offshore Western Australia (ROC: 30%, Operator)

Preparations continue for the Cliff Head-1 exploration well, which is expected to start drilling in late December 2001 with the precise start date subject to rig availability.

3.2 Casamance Blocks, Offshore Senegal (ROC:46.25% & Operator)

853 km (56%) of an estimated 1,523 km 2D seismic survey has been acquired offshore Senegal. Due to better than expected progress the survey is now expected to be completed within a week.

3.3 Block 7 Offshore Mauritania (ROC 2%)

A 1,350 sq km 3D seismic survey, operated by UK-based Dana Petroleum plc, is underway offshore Mauritania. To date approximately 400 sq km of data have been acquired.


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

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ACTIVITY UPDATE (22-11-01)

SUMMARY

· Saltfleetby-6 confirms the presence of gas and good reservoir in the field's southern culmination.
· Third producing well at Kyle comes on stream and pushes field production back above 20,000 barrels of oil per day ("BOPD").
· Chestnut Extended Well Test ("EWT") passes million barrel mark.
· Cliff Head-1 well, offshore Perth Basin, still set to drill in second half of December, 2001.
· 2D seismic survey offshore Senegal brought forward to mid-November, 2001.

1. DEVELOPMENT DRILLING

1.1 Saltfleetby Gas Field, Onshore UK (ROC: 100% & Operator)

At 1800 hrs on 21 November 2001 (UK time), the Saltfleetby-6 appraisal/development well had reached a total depth of 3,169 MDBRT in the punch through pilot hole and wireline logging operations were underway. Preliminary drilling and logging data indicate that approximately 20 m of the sands intersected by the well represent good quality, gas-filled, reservoir. If the balance of the logging programme confirms this view, the well will have established, for the first time, the presence of gas in the southern culmination of the field. Following completion of logging operations, the pilot hole will be plugged back and a horizontal production well drilled.

1.2 Kyle Oil Field, UK North Sea (ROC: 12.5%)

The Kyle Oil and Gas Field is now producing from three horizontal wells, two from the Cretaceous chalk and the most recent one from the Palaeocene sands. As of the 20 November 2001 the collective rate from these three wells was 20,167 BOPD (2,521 BOPD: net ROC).

2. DEVELOPMENT TESTING

2.1 Chestnut Oil Field EWT, UK North Sea (ROC: 14.875% carried)

At 0600 hours on 21 November 2001 (UK time), the EWT at well 22/2a-11x was producing oil at a rate of approximately 13,750 BOPD. Cumulative production is just in excess of 1 million barrels of oil. The EWT is expected to terminate during November, 2001.

3. EXPLORATION

3.1 WA-286-P, offshore Western Australia (ROC: 30%, Operator)

Preparations continue for the Cliff Head-1 exploration well, which is expected to start drilling in mid to late December 2001 with the precise start date subject to rig availability.

3.2 Casamance Blocks, offshore Senegal, West Africa (ROC:46.25% & Operator)

At 0200 hours on 21 November 2001 (local time), a 1,500 km seismic survey commenced over the shelf margin trend in the southwestern part of the Casamance Blocks, Senegal. The survey is expected to be completed by the end of December 2001. ROC and co-venturer, Woodside Energy Ltd, will each contribute 50% towards the cost of the survey. Each company holds a 46.25% beneficial interest in the Casamance Blocks, with PETROSEN, the Senegalese national oil company, holding a 7.5% non-contributing interest.


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

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ACTIVITY UPDATE (15-11-01)

SUMMARY

· Saltfleetby-6 nears target
· UK North Sea drilling and testing activities continue
· Preparations underway for Cliff Head-1 exploration well, offshore Western Australia, due to start in late December 2001
· Preparations underway for December 2001 seismic survey, offshore Senegal, West Africa

1. DEVELOPMENT DRILLING

1.1 Saltfleetby Gas Field, Onshore Humber Basin (ROC: 100% & Operator)

At 6.00 am on 14 November 2001 (UK time), the Saltfleetby-6 appraisal /development well was drilling ahead at 2,907 metres MDBRT towards a planned total depth of 3,150 metres. The current well section is a pilot hole designed to appraise the presence/absence of the main reservoir and its structural elevation in the undrilled southern lobe of the Saltfleetby Gas Field. If successful, the well, which is the highest risk appraisal/development well yet to be drilled in the field, will be plugged back and sidetracked horizontally as a production well on the crest of the southern culmination.

1.2 Kyle Oil Field, UK North Sea (ROC: 12.5%)

The recently completed 29/2c-14a well has been successfully tied back to the Curlew production facilities and was brought on to production at 11.30 a.m on 12 November 2001 (UK time). The well has demonstrated a flowing capability in excess of 8,000 bopd into the process facilities and is currently being flowed under controlled conditions on a number of choke sizes to calibrate the Kyle allocation system.

2. DEVELOPMENT TESTING

2.1 Chestnut Oil Field EWT, UK North Sea (ROC: 14.875% carried)

At 6.00 a.m. on 14 November 2001 (UK time), the Extended Well Test ("EWT") at well 22/2a-11x was temporarily suspended awaiting suitable weather conditions to moor the shuttle tanker within the Chestnut Field and discharge the FPSO cargo in order to allow production to continue. The EWT is expected to terminate during November.

3. EXPLORATION

3.1 WA-286-P, offshore Western Australia (ROC: 30%, Operator)

Preparations continue for the Cliff Head-1 exploration well, which is expected to start drilling in late December 2001 with the precise start date subject to rig availability.

3.2 Casamance Blocks, offshore Senegal, West Africa (ROC:46.25% & Operator)

ROC is currently contracting Veritas DGC's M/V New Venture seismic vessel to acquire 1,500 km of new 2D data, over the shelf margin trend in the southwestern part of the Casamance Blocks, Senegal. The shelf margin play, located in waters between 30 and more than 1,500 metres deep, represents an interesting new exploration concept within the license area.

The survey will be completed by end December 2001. ROC and joint venturer Woodside Energy Ltd will each contribute 50% towards the cost of the survey. Each company holds a 46.25% beneficial interest in the Casamance Blocks, with PETROSEN, the Senegalese national oil company, holding a 7.5% non-contributing interest.


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

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DRILLING ACTIVITY UPDATE (08-11-01)

SUMMARY

· UK drilling and testing activities continue
· Cliff Head-1 exploration well, offshore Western Australia, expected to start in December 2001

1. DEVELOPMENT DRILLING

1.1 Saltfleetby Gas Field (ROC: 100%)

At 0600 hrs on 7 November 2001 (UK time), the Saltfleetby-6 appraisal /development well was drilling ahead at 2,283m MDBRT. The top of the well's primary objective, the Carboniferous Westphalian sandstones which contain virtually all of the gas reserves in the main Field area, is prognosed at approximately 3,100 m MDBRT. The well will evaluate the reservoir sands in the previously undrilled southern culmination of the Saltfleetby structure and is regarded as the highest risk appraisal/development well yet drilled in the Saltfleetby Field.

1.2 Kyle Oil and Gas Field, UK North Sea (ROC: 12.5%)

The J.W. McLean rig was released from the Kyle development well 29/2c-14a at 1830 hrs on Saturday 3 November 2001 (UK time). The well, the first in the Field to have been completed for production from Palaeocene sands above the main chalk reservoir, will now be tied in to the Curlew production facilities. First production is expected in December 2001.

2. PRODUCTION TESTING

2.1 Chestnut Oil Field Extended Well Test ("EWT"), UK North Sea (ROC: 14.875% carried)

At 0600 hrs on 7 November 2001 (UK time), EWT production from well 22/2a-11x was temporarily suspended due to weather conditions. It is now expected that the EWT will be completed later this month.

3. EXPLORATION DRILLING

3.1 WA-286-P, offshore Western Australia (ROC: 30%, Operator)

Preparations continue for the Cliff Head-1 exploration well, which is expected to start drilling in December 2001 with the precise start date subject to rig availability.


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

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DRILLING ACTIVITY UPDATE (01-11-01)

SUMMARY

· UK drilling and testing activities continue

1. DEVELOPMENT DRILLING

1.1 Saltfleetby Gas Field (ROC: 100%)

At 0600 hrs on 31 October 2001 (UK time), the Saltfleetby-6 appraisal/development well was drilling ahead at 1,864m MDBRT having set intermediate casing at 1,836m MDBRT. The well will now drill an appraisal "punch-through" hole to locate and evaluate the reservoir sands in the previously undrilled southern culmination of the Saltfleetby structure, entering the section at approximately 60 degrees from vertical. If this appraisal is successful, the well will then be plugged back and re-drilled as a horizontal producer. The well is regarded as the highest risk appraisal/development well yet drilled in the Saltfleetby Field.

1.2 Kyle Oil Field, UK North Sea (ROC: 12.5%)

At 0600 hrs on 31 October 2001 (UK time), the Kyle development well, 29/2c-14a, was waiting on weather to complete operations prior to rig release, having successfully completed flow checking from the completed Palaeocene sands. The well will then be tied in to the Curlew production facilities and will be the first in the Field to produce from the Palaeocene sands. Production from the well is due to commence in December 2001 at a forecast initial gross rate in excess of 5,000 BOPD.

2. PRODUCTION TESTING

2.1 Chestnut Oil Field Extended Well Test ("EWT"), UK North Sea (ROC: 14.875% carried)

At 0600 hrs on 31 October 2001 (UK time), EWT production from well 22/2a-11x was continuing as planned, at an oil production rate of about 13,000 BOPD.

3. SALTFLEETBY GAS FIELD PRODUCTION (ROC: 100%)

Subsequent to individual wells being brought on to compression during October 2001, the Saltfleetby Gas Field has continued to produce at approximately 35 MMSCFD, an increase in overall production of about 20%. The final well to be brought on to compression was Saltfleetby-5, although it is still too early to comment with regard to any sustained production rate from this well which produces from a different reservoir compared to the other wells and which had been shut in since early this year.

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

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