Last checked at 6 Jun 2008 07:00
6 June 2008
ROC OIL COMPANY LIMITED ("ROC")
STOCK EXCHANGE RELEASE
ACTIVITY UPDATE: DRILLING
Cabinda South Block, Onshore Angola (ROC: 60% & Operator)
Roc Oil (Cabinda) Company, a wholly owned subsidiary of ROC and operator of the Cabinda South Block, advises that:
The Coco-1 exploration well has reached a Total Depth of 2,629 mBRT and produced 26o API oil and associated gas to surface during open hole drill stem testing of two separate intervals in the sub-salt sequence. Both tests were impacted by down hole constraints; one relating to sand influx during testing and the other to mud losses to fractures while drilling. The well will be suspended as an oil discovery with the intention that it be re-entered and tested more comprehensively as soon as practical, within the next six months. Until the well has undergone further testing it is not possible to comment on its commercial potential.
Coco-1 will be followed by two more exploration wells both of which will test sub-salt prospects: Sesamo-1, which is expected to start drilling later this month and Arroz-1, which is expected to commence in August 2008.
Sheree Ford
General Counsel & Company Secretary
For further information please contact:
Dr John Doran on
Tel: +61-2-8356-2000
Fax: +61-2-9380-2635
Email: jdoran@rocoil.com.au
Or visit ROC's website: www.rocoil.com.au
Dr Kevin Hird
General Manager - Business Development
Tel: +44 (0)20 7495 5707/+61 (0)2 8356 2000
Mob: +44 (0)7751 3671 49/+61 (0)417 261 727
Email: khird@rocoil.com.au
Michael Shaw
Oriel Securities Limited (Nominated Adviser)
Tel: +44 (0)20 7710 7600
Bobby Morse
Buchanan Communications
Tel: + 44 (0)20 7466 5000
Fax: + 44 (0)20 7466 5001
E-Mail: bobbym@buchanan.uk.com
Mob: +44 (0)7802 875 227
In accordance with ASX and AIM Rules, the information in this Release has been reviewed and approved by Dr John Doran, Chief Executive Officer, Roc Oil Company Limited, BSc (Hons) Geology, MSc and PhD. Dr Doran, who is a member of the Society of Petroleum Engineers, has more than 30 years relevant experience within the industry and consents to the information in the form and context in which it appears.