Activity Update
04 MAR 08
ROC is pleased to provide an activity update outlining its current exploration and appraisal drilling programme.
1. Block 22/12, Beibu Gulf, Offshore China
Roc Oil (China) Company, a wholly owned subsidiary of ROC, advises that as at 0600 hours (local time) on 4 March 2008, the Wei 6-12E-1A well had been drilled to 1,970 mBRT and the current operation is drilling ahead.
Wei 6-12E-1A is expected to reach the proposed Total Depth of approximately 2,520 mBRT by the end of this week.
Participating Interests in the Block 22/12 Joint Venture are:
Roc Oil (China) Company (Operator)............................. 40%
Horizon Oil Limited............................................................. 30%
Petsec Petroleum*.............................................................. 25%
Oil Australia Pty Ltd**........................................................... 5%
The above interests are subject to Government participation in developments of up to 51%
*a subsidiary of Petsec Energy Ltd **a subsidiary of First Australian Resources
2. WA-286-P, Perth Basin, Offshore Western Australia
Roc Oil (WA) Pty Limited, a wholly owned subsidiary of ROC, advises that as at 0600 hours (local time) on 4 March 2008, the Premium "WilCraft" jack-up drilling rig had drilled the Frankland-2 appraisal well to a Total Depth of 2,330 mBRT.
The well intersected gas in the target sands confirming hydrocarbons in the eastern region of the Frankland Field. The top of the reservoir was encountered deep to prognosis and the gas column was thicker than prognosed but the reservoir is of poorer quality than that encountered in Frankland-1. The Frankland-2 well is currently being plugged and abandoned.
ROC and the Joint Venture will fully evaluate the data obtained from the well, and in conjunction with the results of the 3D seismic survey currently being processed, the field will be re-evaluated for possible further appraisal.
Frankland-2 is approximately one kilometre northeast of the 2007 Frankland-1 well gas discovery.
Following the drilling of Frankland-2, ROC and the Joint Venture plan to drill the Dunsborough-2 well which will appraise the 2007 Dunsborough oil discovery.
Participating Interests in the WA-286-P Joint Venture are:
Roc Oil (WA) Pty Limited (Operator)................................. 37.5%
AWE Oil (Western Australia) Pty Ltd.................................... 27.5%
ARC Energy (Offshore PB) Limited...................................... 30.0%
CIECO Exploration and Production (Australia) Pty Ltd...... 5.0%
3. Offshore Mauritania – PSC Area C, Block 6
Roc Oil (Mauritania) Company, a wholly owned subsidiary of ROC, advises that as at 0600 hours (local time) on 3 March 2008, the Atwood "Hunter" drilling rig had drilled the Khop-1 exploration well to a section Total Depth of 2,791 mBRT
The forward programme is to continue to run 133/8" casing.
The Khop-1 exploration well is located approximately 70 kilometres from the Mauritanian coast.
Participating Interests in the PSC Area C, Block 6 Joint Venture are:
Roc Oil (Mauritania) Company.................................... 5.000%
PC Mauritania I Pty Ltd (Operator).............................. 37.578%
Petronas Carigali Overseas Sdn Bhd........................ 35.000%
Tullow Oil plc................................................................... 22.422%
4. Blane Oil Field, North Sea
ROC’s wholly owned subsidiary, Roc Oil (GB) Limited, advises that the "Ocean Princess" rig is currently on location to drill a water injection well to provide pressure support to the two active producing wells.
The forward programme is to run a test tool and pressure test prior to drilling ahead. The well is expected to be completed towards the end of April 2008.
Unitised Interests in the Blane Oil Field are:
Roc Oil (GB) Limited......................................................... 12.5%
Talisman Energy (UK) Limited........................................ 25.0%
Talisman Energy Norge AS............................................. 18.0%
MOC Exploration (U.K.) Limited (a subsidiary of
Nippon Oil Corporation)................................................... 14.0%
ENI UK Limited.................................................................. 13.9%
ENI ULX Limited.................................................................. 4.1%
Bow Valley Petroleum (UK) Limited............................... 12.5%
For further information see: Stock Exchange Release 04.03.08