Rockpool Acqui Regulatory News (ROC)

21 Feb 2005 07:01

Roc Oil Company Limited21 February 2005 21 February 2005 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE TWO-WELL APPRAISAL/DEVELOPMENT DRILLING PROGRAMME STARTS AT THE CLIFF HEAD OIL FIELD, OFFSHORE WESTERN AUSTRALIA KEY POINT • Cliff Head-5, the first well of a two well appraisal/development drilling programme, commenced drilling at the Cliff Head Oil Field on 18 February 2005. By next week's report time, CH-5 is expected to have reached Total Depth after coring through the prognosed reservoir. The rig will then move to drill the development well Cliff Head-6. Roc Oil (WA) Pty Ltd, Operator for and on behalf of the WA-286-P Joint Venture(the "Joint Venture"), advises that the ENSCO-56 jack-up drilling rig commenceddrilling the CH-5 appraisal well at 10.30 am on 18 February (Australian WesternStandard Time ("AWST")). As at 0600 hrs Monday 21 February (AWST) the rig hadcemented 9/58 inch casing at 1,110 metres and was preparing to drill ahead. CH-5 is a vertical "pathfinder" well located about 1 km southeast of the CH-1discovery well (Attachment 1*). Regardless of drilling results, CH-5 will beplugged and abandoned because its primary purpose is to determine the nature andextent of the reservoir in the East Ridge portion of the Cliff Head structure soas to better define the location of a horizontal development well which, subjectto a Final Investment Decision ("FID") by the Joint Venture, will be drilledfrom the future production platform to access the oil in the East Ridge. The WA-286-P Joint Venture comprises: Equity Roc Oil (WA) Pty Ltd (Operator).........................37.5% AWE Oil (Western Australia) Pty Ltd ....................27.5% Wandoo Petroleum Pty Ltd ...............................24.0% Voyager (PB) Limited ....................................6.0% CIECO Exploration and Production (Australia) Pty Ltd .....................................5.0% *For Attachment 1 see 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 contact:Chief Operating Officer Dr John Doran 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