Highlands Natural Resources Regulatory News (HNR)

15 Feb 2005 07:01

Roc Oil Company Limited15 February 2005 15 February 2005 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE MAURITANIA OFFSHORE DRILLING UPDATE ROC advises that the following release was made earlier today by WoodsidePetroleum Limited: "Woodside Mauritania Pty Ltd, a wholly-owned subsidiary of Woodside PetroleumLtd., reports the following activity offshore Mauritania since the last reportissued on 8 February 2005. PSC-B, Block 4 Tiof-6 and Chinguetti Development wells Tiof-6 Appraisal wellThe 'West Navigator' drillship commenced production testing operations on theTiof-6 appraisal well and at midnight on 14 February 2005, an extended flowperiod was underway. Since the last report, the well has flowed at a maximum rate of approximately12,400 barrels of oil plus 11.0 million standard cubic feet of gas per dayconstrained by a 104/64 inch choke. Currently the well is flowing at a stablerate of approximately 9,150 barrels of oil per day in the main flow periodconstrained by a 72/64 inch choke. Chinguetti Development wellsThe 'Stena Tay' drill rig continued operations on Chinguetti Development wells.Woodside does not plan to issue announcements regarding operations on Chinguettidevelopment wells, but will do so if necessary to comply with its continuousdisclosure obligations under the ASX Listing Rules. All reported drilling depths are referenced to the rig rotary table and alltimes are Universal Time (UTC) (Mauritanian time). The locations of the Chinguetti Oil Field, the Tiof and Banda discoveries andexploration wells are shown on the attached map*. Wells are expected to be drilled in two production sharing contract areas duringthe remainder of the 2005 campaign." Participating Interests in the areas are: +-----------------------------------+-----------+----------+ | Company | PSC-A | PSC-B | +-----------------------------------+-----------+----------+ |Woodside group companies (Operator)| 53.846% | 53.846% | +-----------------------------------+-----------+----------+ |Hardman group companies | 24.3% | 21.6% | +-----------------------------------+-----------+----------+ |BG group companies | 13.084% | 11.63% | +-----------------------------------+-----------+----------+ |Premier group companies | -- | 9.231% | +-----------------------------------+-----------+----------+ |Fusion group companies | 4. 615% | -- | +-----------------------------------+-----------+----------+ |Roc Oil group companies | 4.155% | 3.693% | +-----------------------------------+-----------+----------+ Commenting on the Tiof-6 flow, ROC's Chief Executive Officer, Dr John Doran,stated that: "This is a better than expected result. It augers well for the productivity ofsands within the Tiof channel system although a lot more work needs to be donebefore any field-wide commercial implication can be drawn from the result." *Map attached to the copy of this release on ROC's website(http://www.rocoil.com.au/Pages/ASX_Releases/2005_Releases/February-2005.html) Bruce Clement For further information please contactChief Operating Officer Dr John Doran on Tel: +61-2-8356-2000 Fax: +61-2-9380-2635 E-mail: jdoran@rocoil.com.au Or visit ROC's website: www.rocoil.com.au Dr Kevin Hird General Manager Business Development Tel: +44 (0)207 586 7935 Fax: +44 (0)207 722 3919 Email: khird@rocoil.com.au Nick Lambert Bell Pottinger Corporate & Financial Tel: +44 (0)207 861 3232 This information is provided by RNS The company news service from the London Stock Exchange