ROC OIL COMPANY LIMITED
ABN 32 075 965 856

• In 2000 ROC farmed into WA-286-P, became Operator, and discovered the Cliff Head Oil Field in 2001.  In October 2005 production licence WA-31-L was granted over the field.

• From 2002 to October 2008, ROC had an operating interest in TP/15.  ROC was awarded exploration permits WA-325-P and WA-327-P in 2002 which were subsequently surrendered in July 2007.

• In 2003 ROC farmed into onshore permit EP413 and L14.   The exploration permit was surrendered in December 2008 but ROC retains its small, strategic interest in the Jingemia producing oil field (L14).

• In 2004 ROC was awarded, and operated, WA-349-P, which was subsequently surrendered in January 2007.

• In 2005 ROC farmed into WA-351-P in the Carnarvon Basin.

• In 2006 production commenced at the Cliff Head Oil Field in WA-31-L.  In September 2007, the field produced its 4 millionth barrel of oil representing 22,450 man days without a Lost Time Injury.

• In 2007 ROC farmed into WA-381-P and WA-382-P at an initial interest of 20%.  ROC resigned as operator effective 31 December 2009 and withdrew effective 27 April 2010.

• Abrolhos Sub-basin - The main hydrocarbon play is Permian sandstone reservoirs within fault blocks beneath the regional Kockatea Shale seal.  The play fairway is interpreted to be a narrow north-south band in relatively shallow waters, and is proven by the Cliff Head field in the south.

• Vlaming Sub-basin - Several oil and gas plays are recognised.  There are a number of structural leads and the potential for stratigraphic traps in good quality reservoir rocks throughout Late Jurassic to Early Cretaceous strata.  Five of the seventeen exploration wells drilled in the area recorded oil and/or gas shows.

• The main play is Zeepaard Formation deltaic sands, trapped in stratigraphic / structural closure.

• Perth Basin: 3,439km² gross (1,275km² net).
• Carnarvon Basin: 1,927km² gross (385km² net).

Exploration and Appraisal
In the last seven years ROC has actively explored its operated Perth Basin exploration permits, acquiring 5,800km 2D and 1,289km² 3D seismic and drilling eleven exploration wells (the first of which discovered the Cliff Head Oil Field).  Four appraisal wells were drilled on the field, before commencing development.

Two discoveries made in 2007 in WA-286-P, Frankland-1 and Dunsborough-1 (a gas discovery and a light oil / gas discovery, respectively) were appraised with a well each in 2008.  Frankland-2 confirmed hydrocarbons in the eastern region of the field, but the reservoir was encountered deep to prognosis and is of poorer quality than encountered in the discovery well.  Dunsborough-2 encountered residual oil shows.

Following a prospectivity evaluation of WA-286-P, the joint venture submitted a permit Renewal Application (including a 50% relinquishment) in 2Q 2010.  3D seismic data is being reprocessed to better image structures in the vicinity of the Frankland gas discovery that could potentially mature into future drillable prospects.

Structures in the vicinity of the Cliff Head Oil Field in WA-31-L are being evaluated.  Reprocessed 2D seismic data and 3D seismic data is being interpreted to assess near-field exploration potential.

ROC has participated in the drilling of one exploration well, Jacala-1, in the Carnarvon permit WA-351-P, in 2006.  A 3,493 sq km 3D seismic survey was acquired in 2008.  The permit was renewed (with 50% relinquishment) for a 5-year term from 28 June 2010.  Work is in progress to mature Triassic gas prospects for potential drilling in 2011.

Development and Production
Development activity at the Cliff Head Oil Field was completed in July 2006.  Production commenced 1 May 2006.

ROC has a strategic 0.25% interest in the producing Jingemia Oil Field, onshore Perth Basin, operated by Origin Energy.