Rockpool Acqui Regulatory News (ROC)

14 Nov 2005 07:02

Roc Oil Company Limited14 November 2005 14 November 2005 ROC OIL COMPANY LIMITED STOCK EXCHANGE RELEASE DRILLING ACTIVITY UPDATE: FLYING FOAM-1 KEY POINT - Flying Foam-1, a wildcat exploration well in the offshore Northern Perth Basin, is drilling ahead after encountering oil shows in tight sands. Roc Oil (WA) Pty Ltd, Operator for and on behalf of the WA-327-P Joint Venture,advises that, as at 05.00 hrs Western Standard Time, Monday, 14 November, FlyingFoam-1, a wildcat exploration well in the offshore Northern Perth Basin, isdrilling ahead at 1,360 metres Below Rotary Table ("mBRT") towards a revisedTotal Depth of 1,370 mBRT. The well has drilled a gross 45 metre interval ofsandstones with oil shows. Subject to more complete log evaluation at TotalDepth, the initial indication is that these sands display very poor reservoirquality. Unless significantly better reservoir is encountered, it is anticipated that thewell will be plugged and abandoned after Total Depth has been reached andlogging completed. Flying Foam-1 is located in 65 metres of water, 160km northwest of Geraldton,Western Australia. Following Flying Foam-1, the ENSCO 67 jack-up drilling rig will relocate to theCliff Head Oil Field, 230 km to the southeast, where the WA-286-P Joint Venturewill utilise it for the installation of production facilities and developmentdrilling of Cliff Head. The WA-327-P Joint Venture comprises: EquityRoc Oil (WA) Pty Ltd (Operator) 37.50%Apache Northwest Pty Limited 37.50%Arc Energy 20.0%Wandoo Petroleum Pty Ltd 5.00% 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