| JANUARY 2005 - STOCK EXCHANGE RELEASES |
| STOCK EXCHANGE RELEASE - REPORT TO SHAREHOLDERS - Activities for the Quarter Ended 31 December 2004 (31-01-2005) |
To view the Quarterly Report for quarter ending 31 December 2004, click here |
| STOCK EXCHANGE RELEASE - UK ONSHORE DRILLING UPDATE (31-01-2005) |
ERRINGTON-1: EXPLORATION WELL, PEDL 028, ONSHORE UK (ROC: 100% & Operator)
The rig was released from the Errington-1 wildcat exploration well in PEDL 028 on 29 January 2005 after running casing to a depth of 1,976 metres. Wireline log interpretation indicates gas saturated tight sands over a gross vertical interval of approximately 135 metres of which approximately 100 metres represents net sand. The well was suspended as a new tight gas discovery with the intention that it will be evaluated further later this year as part of ROC’s onshore UK tight gas strategy.
“It is far too early to comment on the potential commercial significance of the Errington gas discovery but with a thick interval of gas bearing sands about 35km west of the industrial city of Newcastle you can be sure that we will be working the data hard in the context of our tight gas sand strategy. In any event, it is always nice to find gas bearing sands in an area where they haven’t been found before.”
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| STOCK EXCHANGE RELEASE - NEW ISSUE ANNOUNCEMENT (28-01-2005) |
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| STOCK EXCHANGE RELEASE - ROC COMPLETES PLACEMENT OF APPROXIMATELY 10 MILLION SHARES TO RAISE US$15 MILLION / A$20 MILLION (28-01-2005) |
ROC is issuing these shares without disclosure to investors under the fundraising provisions of Part 6D.2 of the Corporations Act and this notice is given pursuant to section 708A(5)(e) of the Corporations Act. As at the date of this notice, ROC confirms that it: |
| STOCK EXCHANGE RELEASE - UK ONSHORE DRILLING UPDATE (24-01-2005) |
ERRINGTON-1: EXPLORATION WELL , PEDL 028, ONSHORE UK (ROC: 100% & Operator)
As of 11:00pm on 23 January 2005 , at the operation at the Errington-1 wildcat exploration well was completing wireline logging at a Total Depth of 2,200m. Preliminary interpretations suggest that the well has intersected several tight gas sands. The gross vertical thickness of the main gas sand is approximately 40m, most of which appears to be gas saturated net sandstone, albeit in the context of a typical tight gas sand play.
At the level of the zones of interest the well is located some 30 to 40m below the top of the structure, as currently mapped. The potential of the sands to flow gas in commercial quantities is difficult to assess on the basis of currently available data and preliminary interpretation. Therefore casing will be run over the zones of interest and the well will be suspended for further evaluation. The Errington well is located in PEDL 028 approximately 35km west of Newcastle , in Northern England. Bruce Clement Chief Operating Officer E-mail: bclement@rocoil.com.au |
| STOCK EXCHANGE RELEASE - ROC CLOSES SALE OF SALTFLEETBY GAS FIELD (24-01-2005) |
ROC CLOSES SALE OF SALTFLEETBY GAS FIELD
Commenting on the placement, ROC's chief Executive Officer, Dr John Doran stated that:
“Settlement of the sale within three weeks of the effective date is a credit to all participants. As a result of the receipt of the sale proceeds together with the monies due from the premium placement announced earlier today ROC has just over A$200 million in cash and receivables and no debt.”
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| STOCK EXCHANGE RELEASE - ROC TO PLACE APPROXIMATELY 10 MILLION SHARES TO RAISE US$15 MILLION/A$20 MILLION (24-01-2005) |
ROC is pleased to announce that after the markets had closed in London and Australia on Friday, 21st January, 2005, it agreed to place 9,900,990 fully paid ordinary shares at a price of $2.00 per share. The placement price represents an approximate 11% premium to the weighted average price of ROC’s shares traded during the last 10 trading days. The placement will raise US$15 million/A$19.8 million from two established institutional investors.
The primary purpose of the placement is to allow ROC to fund potential new exploration ventures offshore West Africa without recourse to either the proceeds generated by the sale of the Saltfleetby Gas Field or the funds raised by the April 2004 Rights Issue. In the event that ROC does not identify appropriate new West African opportunities which meet its investment criteria, it is expected that the funds raised by the placement will be applied to the Company’s current African portfolio. The placement will substantially increase the number of ROC shares held by investors based in Europe and, in this context, ROC’s Board of Directors is very pleased to welcome these new shareholders to the Company’s share register.
In order to view the 'Appendix 3B New issue announcement - Application for quotation of additional securities and agreement' click here
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| STOCK EXCHANGE RELEASE - LODGEMENT OF OPEN BRIEFING (corporatefile.com.au) (20-01-2005) |
In order to view the Lodgement of Open Briefing (corporatefile.com) Record of interview with ROC CEO, Dr John Doran (Update on Operations) click here
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| STOCK EXCHANGE RELEASE - MAURITANIA OFFSHORE DRILLING UPDATE (18-01-2005) |
ROC advises that the following release was made earlier today by Woodside Petroleum Limited:
Preliminary interpretation of logs acquired while drilling and wireline logging operations, including fluid sampling and downhole pressure measurements, indicate the well has intersected oil over a gross interval of approximately 124 metres. The Tiof-6 appraisal well was suspended as planned on 17 January 2005. It is planned that the well will be production tested at a later stage. On 17 January 2005, the ‘West Navigator’ returned to the Chinguetti Field to join the ‘Stena Tay’ on the development drilling program.
All reported drilling depths are referenced to the rig rotary table and all times are Universal Time (UTC) (Mauritanian time). The locations of the Chinguetti Oil Field, the Tiof and Banda discoveries and exploration wells are shown on the attached map. Wells are expected to be drilled in two production sharing contract areas during the remainder of the 2005 campaign.
Participating Interests in those areas are: Company............................... . . . . . . .PSC-A..........PSC-B |
| STOCK EXCHANGE RELEASE - UK ONSHORE DRILLING UPDATE (17-01-2005) |
ERRINGTON-1: EXPLORATION WELL , PEDL 028, ONSHORE UK (ROC: 100% & Operator)
As 16 January 2005 , the Errington-1 exploration wildcat well was drilling ahead in 8½ inch hole at a depth of 1,961m. The well is now drilling ahead toward the deeper objective. A full evaluation of the intervals drilled to date will be undertaken when the well reaches Total Depth and wireline logs are run.
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| STOCK EXCHANGE RELEASE - MAURITANIA OFFSHORE DRILLING UPDATE (13-01-2005) |
TIOF-6 APPRAISAL WELL - PSC B
Chinguetti development drilling has priority over other drilling activity in this campaign. The Joint Venture is committed to being flexible in rig scheduling in order to maximise the operational efficiencies of running two rigs simultaneously. Thus individual wells are occasionally re-scheduled at short notice, as with the Tiof-6 drilling and completion activities.
"With a net to gross reservoir section comfortably within the broad 10% to 40% range established by other wells in the area, it will be interesting to see how this well performs on test because, in the final analysis, deep water field development is all about net pay and productivity".
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| STOCK EXCHANGE RELEASE - MAURITANIA OFFSHORE DRILLING UPDATE (11-01-2005) |
ROC advises that the following release was made earlier today by Woodside Petroleum Limited:
Chinguetti Development wells All reported drilling depths are referenced to the rig rotary table and all times are Universal Time (UTC) (Mauritanian time). The locations of the Chinguetti Oil Field, the Tiof and Banda discoveries and exploration wells are shown on the attached map. Wells are expected to be drilled in two production sharing contract areas during the remainder of the 2005 campaign.
Participating Interests in those areas are: Company............................... . . . . . . .PSC-A..........PSC-B |
| STOCK EXCHANGE RELEASE - UK ONSHORE DRILLING UPDATE (11-01-2005) |
As at 20:00Hrs on 10 January 2005, UK time, the Errington-1 exploration wildcat well was drilling ahead in 8½ inch hole at a depth of 1747m. A full evaluation of the intervals drilled to date will be undertaken when the well reaches Total Depth of approximately 2,000m and wireline logs are run.
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| STOCK EXCHANGE RELEASE - UK ONSHORE DRILLING UPDATE (04-01-2005) |
As at 6:00am on 3 January 2005 UK time, the Errington-1 exploration wildcat well was drilling ahead in 8½ inch hole at a depth of 1,559m. On the basis of data collected while drilling, the well has drilled through the shallower objective without any obvious indications of significant hydrocarbons. The well is now drilling ahead toward the deeper objective. A full evaluation of the intervals drilled to date will be undertaken when the well reaches Total Depth and wireline logs are run.
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| STOCK EXCHANGE RELEASE - MAURITANIA OFFSHORE DRILLING UPDATE (04-01-2005) |
ROC advises that the following release was made earlier today by Woodside Petroleum Limited:
Chinguetti Development wells All reported drilling depths are referenced to the rig rotary table and all times are Universal Time (UTC) (Mauritanian time). The locations of the Chinguetti Oil Field, the Tiof and Banda discoveries and exploration wells are shown on the attached map. Wells are expected to be drilled in two production sharing contract areas during the remainder of the 2005 campaign.
Participating Interests in the areas are: Company............................... . . . . . . .PSC-A..........PSC-B |