Rockpool Acqui Regulatory News (ROC)

27 Mar 2007 07:05

Roc Oil Company Limited27 March 2007 27 March 2007 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE ACTIVITY UPDATE 1. PRODUCTION 1.1 Mauritania Further to ROC's Stock Exchange announcement on 24 January 2007, the Companyadvises that the Chinguetti-18 development well has been completed forproduction and is being brought onstream. Completing of the well was delayed dueto downhole mechanical difficulties that have been now rectified. Grossproduction from the Chinguetti Oil Field currently approximates to 24,000 BOPD(Net ROC: 780 BOPD). 1.2 Australia The Cliff Head Oil Field has been producing at a relatively steady rate,generally between 8,000 and 9,000 BOPD (Net ROC: 3,000 - 3,375 BOPD) from fourof the six designated oil producers. A planned workover in April is expected tobe undertaken without major interruption to production. 1.3 China Gross oil production from the Zhao Dong C and D fields has running atapproximately 23,000 BOPD (Net ROC: 5,630 BOPD). The 15 well 2007 drillingprogramme is scheduled to start in April 2007. 2. DEVELOPMENT 2.1 UK The latest information from the operator of the Enoch Oil and Gas Field and theBlane Oil Field, suggests that while Enoch remains on schedule for firstproduction in 2Q 2007 first oil from Blane will likely slip to 3Q2007 due toexceptional waiting on weather periods and delays with topside construction onthe third party host platform. These, and other factors, have contributed to acost increase for the Blane development which is now likely to totalapproximately £250 million, (Net ROC: £31.5 million) up approximately 20% sinceROC's previously announced estimate in November 2006. The total capital cost ofthe Enoch development is now expected to be approximately £100 million (Net ROC:£12 million), up 7.5% from ROC's previously announced estimate in November 2006. 3. EXPLORATION 3.1 Angola The ROC-owned Explorer Rig arrived in Cabinda on schedule in mid-March. The rigis currently stacked and waiting on wellsite and road construction which is, inturn, waiting on the end of the rainy season which usually occurs in late April.Upgrading of the Simmons rig in Dubai continues on schedule and that rig isstill expected to arrive in Cabinda in May 2007. Ongoing interpretation of the 2005 and 2006 seismic surveys has confirmed morethan 30 prospects and leads. In addition to the two prospects previouslyidentified, Masambala and Caju, three other prospects have so far been highgraded as possible candidates for drilling during 2007. Based on the encouraging results achieved to date, ROC and its co-venturers haveagreed to acquire a further 200 sq km of 3D seismic during 2007 to detail alarge 2D seismic lead. 3.2 Australia The Premium Wilcraft jack-up drilling rig remains on schedule to commencedrilling the Franklin-1, the first well of a three well exploration programme inthe offshore Perth Basin, in early April. 3.3 China In response to an invitation to tender, ROC has received a number of bidsrelating to jack-up rigs that could be made available for a multi-wellexploration drilling programme scheduled to commence in Block 22/12 in the BeibuGulf in late 2007/early 2008. Damian Fisher For further information please contact:General Manager Dr John Doran onExternal Affairs & Investor Relations 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)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