Rockpool Acqui Regulatory News (ROC)

21 May 2007 07:03

Roc Oil Company Limited21 May 2007 21 May 2007 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE DRILLING ACTIVITY UPDATE: OFFSHORE PERTH BASIN EXPLORATION DRILLING - PERSEVERANCE-1 Roc Oil (WA) Pty Limited, a wholly owned subsidiary of ROC, advises that thePerseverance-1 exploration well in WA-325-P, offshore Perth Basin, has beendrilled to a Total Depth of 1,774 metres and that, as of 0600 hours on 21 May2007, Australian Western Standard Time ("AWST"), the current operation wasrunning electric logs. Since the last Stock Exchange Release on 15 May 2007, the well has penetratedthe two main objectives, the Dongara Sandstone and the Irwin River CoalMeasures. Drilling and preliminary log data indicate that good gas indicationsare present in sands with moderate reservoir quality over a gross interval ofapproximately 32 metres below the top of the Dongara Sandstone. The significanceof the gas shows will be determined after logging has been completed. Perseverance-1, the second of a three well exploration drilling programme in theregion, is scheduled to be followed by Dunsborough-1 in WA-286-P. Participating Interests in WA-325-P are: Roc Oil (WA) Pty Ltd (Operator)......................................37.5% Apache Northwest Pty Limited.........................................37.5% ARC (Offshore PB) Limited............................................20.0% Wandoo Petroleum Pty Ltd. (Mitsui & Co Group of Companies)............5.0%* *Subject to a purchase agreement with ARC Energy 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 20 7495 5707/+61 2 8356 2000 Mob: +44 775136 7149/+61 417 261 727 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