Rockpool Acqui Regulatory News (ROC)

12 Jul 2006 07:01

Roc Oil Company Limited12 July 2006 12 July 2006 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE DRILLING UPDATE WEI-6-12S-1, OIL DISCOVERY, OFFSHORE CHINA Since the last Stock Exchange Release on 13 June 2006, regarding the Wei-6-12S-1exploration well in Block 22/12, Beibu Gulf, offshore China, operations at theWei-6-12S-1Sa sidetrack well have been completed. The sidetrack well which is about 50 metres from the original discovery wasdrilled to further delineate and core the relevant reservoirs. Five core sampleswere successfully cut and effectively 100% recovery achieved. Initial analysisindicates that these core samples are similar to the reservoir character andquality found in the discovery well. The first sidetrack well reached a Total Depth of 2,530 metres below RotaryTable and has been plugged and abandoned after logging, in accordance with thepre-drill programme. Preparations for the drilling of a second side track wellWei-6-12S-1Sb are underway. The second sidetrack has been designed to intersect the various reservoir sandsin a downdip position relative to the discovery well, with the aim of betterdelineating the likely multiple oil-water contacts in the field and testing thepossible thicker downdip development of thin sands intersected in the discoverywell. A possible sandy sequence is expected to be intersected towards the base of thesidetrack well which is not present in the discovery well and this provides thesecond side-track well with an exploration component. The second sidetrack well is expected to commence later this week and to becompleted during August. This represents a significant step out and thereforeROC will issue regular weekly updates on the progress achieved. Commenting on the results of the first side track well, ROC's Chief ExecutiveOfficer, Dr John Doran said: "With the first side-track operations completed without any surprises, ROC andits co-venturers will continue with their two pronged approach to appraisingthis field: do it methodically and do it quickly." The Block 22/12 Joint Venture comprises*: Roc Oil (China) Company 40% and OperatorHorizon Oil Limited 30%Petsec Energy Ltd 25%Oil Australia Pty Ltd** 5% \* The China National Offshore Oil Company ("CNOOC") is entitled to participate upto a 51% funding equity level in any commercial development within Block 22/12.** A subsidiary of First Australian Resources In accordance with new Alternative Investment Market of the London StockExchange ("AIM") rules the information in this report has been reviewed by anappropriately qualified person with more than five years relevant industryexperience, specifically, Dr John Doran, Bsc (Hons) Geology; M.Sc; PhD, ChiefExecutive Officer, Roc Oil Company Limited, and a member of the Society ofPetroleum Engineers. Michelle Manook For further information please contact:General Manager - Corporate Affairs 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)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