| NOVEMBER 2005 - STOCK EXCHANGE RELEASES |
| MAURITANIA OFFSHORE DRILLING UPDATE: (29-11-2005) |
The Joint Venture Interests in Block 1 are:
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| MAURITANIA OFFSHORE DRILLING UPDATE: (24-11-2005) |
Faucon-1 was spudded on 22 November 2005 in a water depth of 1,161 metres. At midnight on 22 November 2005, the well had been drilled to a depth of 1,220 metres. The Faucon Prospect is a Cretaceous age canyon complex sealed against a salt dome. The planned total depth of the well is approximately 4,200 metres below sea level, which is expected to be reached in approximately 30 days. Faucon-1 is located approximately 140 km south of the Woodside-operated Chinguetti field, 60 km from the shoreline and 200 km southwest of the capital Nouakchott.
The Joint Venture Interests in Block 1 are:
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| MAURITANIA OFFSHORE DRILLING UPDATE: (22-11-2005) |
PSC Area B The ‘Stena Tay’ drill rig finished wireline log acquisition on Labeidna-1 exploration well, including the recovery of oil and rock samples to surface. The well was plugged and abandoned as planned. The ‘Stena Tay’ drill rig was released on 20 November 2005 to drill a well for another operator. Preliminary evaluation of the data acquired in Labeidna-1 indicates that the well intersected a gross oil bearing interval of 116 metres, comprising an interbedded series of thin but high quality sands and claystones. Interpretation of image logs and magnetic resonance logs and other analytical work is continuing to quantify the total net pay thickness. These results will be incorporated into an assessment of the commercial potential of the Labeidna accumulation. Woodside does not plan to issue further announcements regarding operations in Mauritania until the ‘Stena Tay’ returns to drill Woodside-operated wells later in 2005, but will do so if necessary to comply with its continuous disclosure obligations under the ASX Listing Rules.
General All reported drilling depths are referenced to the rig rotary table and all times are Universal Time (UTC) (Mauritanian time). The locations of planned exploration wells and the Chinguetti Oil Field are shown on the attached map."
Participating Interests in the Chinguetti Joint Venture and relevant PSC areas are:
Company............................... . . . . Chinguetti Joint Venture . . . .. . . PSC-A . . . .. . . PSC-B . . . ..PSC-C, Block 6
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| ACTIVITY UPDATE: GENERAL (17-11-2005) |
• Aggressive, company-wide, exploration and appraisal drilling programme: up to 7 wells in the next 4 ½ months. • Pipeline installation, a key element in the Cliff Head Oil Field Development Project, successfully completed. • Pioneering 2D and 3D seismic surveys onshore Angola successfully completed.
In late October 2005, ROC commenced a 4 plus 4 month drilling contract with Ensco Australia Pty Ltd when it received the jack-up drilling rig, Ensco 67. Following the drilling of the first well under this contract, Flying Foam-1, in the northern part of the offshore Perth Basin, the rig is relocating to the Cliff Head Oil Field where it is expected to arrive in the next 3 to 6 days. The Ensco 67 will play a key role in the development of the Cliff Head Oil Field. During the next 4 months the rig will drill and complete 6 production wells and 2 water injection wells and also install the production jacket and topside facilities. After the Ensco 67’s work at Cliff Head has been completed the rig will drill 3 to 5 exploration wells in the area around the Cliff Head Oil Field. Importantly, the rig contract is structured so that ROC has an option to extend it for a second 4 month tranche beyond the initial 4 month firm contract period. Therefore, as the Ensco 67 completes its presently designated work programme at Cliff Head, ROC will have the right, but not the obligation, to use the rig on other ROC-operated wells offshore Western Australia, including any farmin opportunities which may arise.
Attachment 1 is the latest update of ROC’s company-wide drilling programme for the period mid-November 2005 to March 2006: up to 7 exploration and appraisal wells in the next 4 ½ months. The main change since the previous programme was distributed is:
The pipelines, power cable and umbilical (collectively the “pipeline”) construction and installation elements of the Cliff Head Oil Field Development were successfully completed on 15 November. In contrast to the traditional approach to such projects, which would normally involve the appointment of a single, over-arching pipeline contractor, all components of the pipeline operation were directly contracted by ROC, as Operator of the Cliff Head Joint Venture. In order to expedite this contract strategy ROC structured a special purpose third party pipeline management company staffed with a team of highly experienced individuals, recruited from the pipeline industry, headed by Mr Peter Cox, reporting directly to ROC's Cliff Head Project Manager, Mr Duncan Mitchell. As a consequence of this arrangement, ROC was responsible for all phases of pipeline construction and installation, including the direct purchase of materials, the leasing and manning contract services of the pipelay barge spread and accommodation vessel, and the management and supervision of the onshore-offshore pipeline installation, including the under-beach horizontal drilling which was designed to minimise the environmental impact of the project. The pipeline project was completed a few weeks later than originally scheduled, mainly due to weather downtime with the pipelay vessel. Fortunately, this delay, which has not affected the overall Cliff Head project schedule, still allowed the pipeline phase of the project to be completed just as the crayfishing season started offshore Dongara.
Roc Oil (Cabinda) Company, a wholly owned subsidiary of ROC, Operator of the Cabinda South Block, onshore Angola, is pleased to advise that it has completed its 2005 seismic programme. Over a five month period, 162 sq km 3D seismic and 505 km 2D seismic were acquired. The surveys represent the first substantial exploration activity to take place onshore Angola for more than 30 years. The 3D survey was a “first” for onshore Angola. The seismic was acquired by the Geophysical Institute of Israel while matters related to explosive ordnance disposal were undertaken by Demining Enterprises International (Pty) Ltd. At the height of survey activity almost 300 people were employed, the vast majority of whom were locals. Preliminary results of the seismic processing confirm that data quality is generally good to excellent and there is an abundance of structuring, although it is too early to tell how many of the structures represent valid closures worthy of drilling. The Cabinda South Joint Venture plans to undertake another substantial seismic survey next year ahead of a multi-well exploration drilling programme. This drilling programme is currently targeted to start in late 2006, subject to onset of the year-end rainy season, rig availability and the results of the seismic interpretation which has just begun.
CEO’s Comments Commenting on the various activities referred to above, ROC’s CEO, Dr John Doran, stated that “ROC’s activity level remains very high and important individual operational milestones are being achieved. It is particularly pleasing to have safely completed both the seismic programmes onshore Angola and the pipeline operations offshore Western Australia. While ROC’s future drilling programme will – like every other drilling programme in the industry – remain sensitive to the tight rig market which currently prevails, the signing of a 4 month plus 4 month optional drilling contract with more rig capacity than is presently required, strengthens ROC’s strategic position with regard to drilling opportunities offshore Western Australia.”
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| DRILLING ACTIVITY UPDATE: LABEIDNA-1 (15-11-2005) |
PSC Area B The ‘Stena Tay’ rig drilled Labeidna-1 to the final total depth of 3080 metres where the acquisition of wireline logs, including downhole pressure measurements and fluid sampling, commenced. A preliminary evaluation of these data, indicates that the well intersected an oil bearing interval comprising an interbedded series of thin sands and claystones. Late on 14 November 2005, the collection of oil samples was underway. Additional wireline logs will be acquired to quantify the significance of this discovery. A further announcement will be made when this analysis has been completed. Following wireline logging, the well will be plugged and abandoned as planned.”
ROC'S CEO COMMENT Commenting on the results ROC’s Chief Executive Officer, Dr John Doran said: “Until all the subsurface data have been collected and analysed it is not possible to make a definitive comment about the commercial potential of Labeidna-1. However, the information obtained to date suggests that commercialisation of the discovery will be difficult given the thin nature of the sands and a water depth of more than 1,200 metres."
Participating Interests in the Chinguetti Joint Venture and relevant PSC areas are:
Company............................... . . . . Chinguetti Joint Venture . . . .. . . PSC-A . . . .. . . PSC-B . . . ..PSC-C, Block 6
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| DRILLING ACTIVITY UPDATE: FLYING FOAM-1 (14-11-2005) |
Unless significantly better reservoir is encountered, it is anticipated that the well will be plugged and abandoned after Total Depth has been reached and logging completed. Flying Foam-1 is located in 65 metres of water, 160km northwest of Geraldton, Western Australia. Following Flying Foam-1, the ENSCO 67 jack-up drilling rig will relocate to the Cliff Head Oil Field, 230 km to the southeast, where the WA-286-P Joint Venture will utilise it for the installation of production facilities and development drilling of Cliff Head: . . . . . . . . . . . . . . . . . . . . . . . . . Equity
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| MAURITANIA OFFSHORE DRILLING UPDATE: (08-11-2005) |
PSC Area B The ‘Stena Tay’ drill rig completed plug and abandonment operations on Tevét-2 ST1, as planned, prior to moving to the Labeidna-1 exploration well location. The well is located 15 kilometres to the south-west of the Chinguetti Field and will target a Miocene-aged reservoir objective. Labeidna-1 was spudded on 5 November 2005 in a water depth of 1,266 metres. At midnight on 7 November 2005, the well had been drilled to a depth of 2,198 metres with preparations underway to set casing before drilling ahead to the planned total depth of approximately 3,095 metres.
General All reported drilling depths are referenced to the rig rotary table and all times are Universal Time (UTC) (Mauritanian time). The locations of planned exploration wells and the Chinguetti Oil Field are shown on the attached map."
Company............................... . . . . Chinguetti Joint Venture . . . .. . . PSC-A . . . .. . . PSC-B . . . ..PSC-C, Block 6
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| DRILLING ACTIVITY UPDATE: (07-11-2005) |
Roc Oil (WA) Pty Ltd, Operator for and on behalf of the WA-327-P Joint Venture, advises that the ENSCO-67 jack-up drilling rig commenced drilling Flying Foam-1, a rank wildcat well in the offshore Perth Basin, at 23.00 hrs Western Standard Time (“WST”) on 4 November 2005. As at 24.00 hrs 6 November, WST the well was drilling ahead at 177 metres below rotary table (“MBRT”) after setting 20” conductor pipe at 137 MBRT.
The Flying Foam Joint Venture comprises: . . . . . . . . . . . . . . . . . . . . . . . . . Equity
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| MAURITANIA OFFSHORE DRILLING UPDATE: (01-11-2005) |
PSC Area B: Tevét- 2 and Tevét-2 ST1 Combined Appraisal and Exploration Well The ‘Stena Tay’ drill rig completed wireline logging operations of the Cretaceous exploration objective of the Tevét-2 sidetrack ("ST1"). This included recovery of oil and rock samples to surface, which established that the exploration well intersected a gross oil column, now expected to be approximately 6 metres. At midnight on 31 October 2005, the well was being plugged and abandoned prior to the rig moving to the Labeidna-1 exploration well location. Labeidna-1, which is located 15 kilometres to the south-west of Chinguetti field, will target Miocene sands.
General All reported drilling depths are referenced to the rig rotary table and all times are Mauritanian time, which is the same as Universal Time. The locations of planned exploration wells, including the addition of Zoulé exploration well in PSC-C Block 6, and the Chinguetti Oil Field are shown on the attached map."
Participating Interests in the Chinguetti Joint Venture and relevant PSC areas are:
Company............................... . . . . Chinguetti Joint Venture . . . .. . . PSC-A . . . .. . . PSC-B . . . ..PSC-C, Block 6
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