Rockpool Acqui Regulatory News (ROC)

25 Jun 2008 07:41



25 June 2008

ROC OIL COMPANY LIMITED ("ROC")

STOCK EXCHANGE RELEASE

ACTIVITY UPDATE: Drilling

ROC is pleased to provide the following activity update.

1. Zhao Dong C and D Oil Fields and C4 Oil Field, Bohai Bay, Offshore China 

Roc Oil (Bohai) Company, a wholly owned subsidiary of ROC, is pleased to report that the initial phase of the 2008 development drilling programme has been completed with four new wells drilled and completed and brought on production. In addition, two further workovers involving well recompletions have also been brought on production.

Together, the six wells are currently contributing approximately 7,500 bopd to total production of approximately 20,000 bopd from the C and D Oil Fields.

The 2008 drilling programme in the C and D Oil Fields, the C4 Oil Field and the Extended Reach Area is planned to include up to twenty-four wells comprising a mix of oil producers and water injectors.

Participating Interests are:

Roc Oil (Bohai) Company (Operator)*………………..24.5%

PetroChina Company Limited…………………………….51.0%

New XCL-China LLC………………………………………24.5%

*C4 Unitised Interest - 11.575%

2. PSC Area B, Block 4, Offshore Mauritania

Roc Oil (Mauritania) Company, a wholly owned subsidiary of ROC, advises that the Chinguetti C-19 development well was spudded on 9 June 2008.

As at 0600 hours (local time) on 23 June 2008, the current operation was preparing to cement intermediate casing in 12¼ inch hole at a depth of 2808 mBRT, prior to drilling out the 8½ inch section to total target depth of 3,570 mBRT.

The C-19 development well is the first of two development wells to be drilled in the Chinguetti Oil Field during 2008.

Participating Interests in the Area B, Block 4, Chinguetti Joint Venture are: 

Roc Group Companies………………………………..3.250%

PC Mauritania I Pty Limited (Operator)……………..….47.384%

Tullow Oil plc………………………………………....….19.008%

Societe Mauritanienne des Hydrocarbures………..…..12.000%

(Government of Mauritania)

Mauritania Holdings B.V. (BG Group)……………….....10.234%

Premier Oil Mauritania B Limited…………………….…..8.123%

3. Cabinda South Block, Onshore Angola (ROC: 60% & Operator)

Roc Oil (Cabinda) Company, a wholly owned subsidiary of ROC, advises that the Sesamo-1 exploration well commenced drilling on 22 June 2008. As at 2200 hours (local time) on 23 June 2008, the well was drilling ahead at 261mBRT.

Sesamo-1, which is located in the east of the Block and twelve kilometres north of Cevada-1, is the sixth well in the current seven well exploration drilling programme and like Coco-1 will test a sub-salt prospect. The well is expected to be finished during August 2008.

Consistent with ROC's established practice regarding its Angolan drilling activity, the Company will only issue public statements at the beginning and end of each drilling operation after the relevant information has been collected and carefully analysed.

Participating Interests in the Cabinda South Block are:

Roc Group Companies……………………………….…60%

Force Petroleum Limited…………………………………..20%

Sonangol P&P S.A............................................................20%

Sheree Ford

General Counsel & Company Secretary

For further information please contact:

Mr Bruce Clement on

Tel: +61-2-8356-2000

Fax: +61-2-9380-2066

Email: bclement@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 John Mebberson, General Manager, Exploration, Roc Oil Company Limited, BSc Geology. Mr Mebberson, who is a member of the American Association of Petroleum Geologists, has more than 30 years relevant experience within the industry and consents to the information in the form and context in which it appears.