Rockpool Acqui Regulatory News (ROC)

4 Mar 2008 07:02

Roc Oil Company Limited04 March 2008 4 March 2008 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE ACTIVITY UPDATE ROC is pleased to provide an activity update outlining its current explorationand appraisal drilling programme. 1. Block 22/12, Beibu Gulf, Offshore China Roc Oil (China) Company, a wholly owned subsidiary of ROC, advises that as at0600 hours (local time) on 4 March 2008, the Wei 6-12E-1A well had been drilledto 1,970 mBRT and the current operation is drilling ahead. Wei 6-12E-1A is expected to reach the proposed Total Depth of approximately2,520 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 ofup 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 at0600 hours (local time) on 4 March 2008, the Premium "WilCraft" jack-up drillingrig 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 theeastern region of the Frankland Field. The top of the reservoir was encountereddeep to prognosis and the gas column was thicker than prognosed but thereservoir is of poorer quality than that encountered in Frankland-1. TheFrankland-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 beingprocessed, the field will be re-evaluated for possible further appraisal. Frankland-2 is approximately one kilometre northeast of the 2007 Frankland-1well gas discovery. Following the drilling of Frankland-2, ROC and the Joint Venture plan to drillthe 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 asat 0600 hours (local time) on 3 March 2008, the Atwood "Hunter" drilling rig haddrilled 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 theMauritanian 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 "OceanPrincess" rig is currently on location to drill a water injection well toprovide pressure support to the two active producing wells. The forward programme is to run a test tool and pressure test prior to drillingahead. 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 ofNippon Oil Corporation).14.0%ENI UK Limited.........................................................13.9%ENI ULX Limited.........................................................4.1%Bow Valley Petroleum (UK) Limited..................................... 12.5% In accordance with ASX and AIM Rules, the information in this Release has beenreviewed and approved by Dr John Doran, Chief Executive Officer, Roc Oil CompanyLimited, BSc (Hons) Geology, MSc and PhD. Dr Doran, who is a member of theSociety of Petroleum Engineers, has more than 30 years of relevant experiencewithin the industry and consents to the information in the form and context inwhich it appears. Damian FisherGeneral ManagerExternal Affairs & Investor Relations 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 This information is provided by RNS The company news service from the London Stock Exchange