Rockpool Acqui Regulatory News (ROC)

18 Jan 2007 08:50

Roc Oil Company Limited18 January 2007 18 January 2007 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE UPDATE - ANGOLA KEY POINTS • First of three exploration wells scheduled to start drilling May 2007. • A two rig programme structured to provide the option of adding three further wells to the current three well 2007 drilling programme. 2007 Work Programme and Budget In December 2006, the Cabinda South Joint Venture formally approved a 2007 WorkProgramme which includes three firm exploration wells and an overall 2007 Budgetof about US$54 million, approximately US$43 million (80%) of which relates todrilling activity. The first two wells scheduled for drilling are Massambala-1 and Caju-1. Detailsof both prospects can be found in the "Presentations" section of ROC's websiteand in the November 2006 Prospectus. The third exploration well for the 2007drilling programme is subject to final technical verification. Status of the Drilling Rigs, Roads and Sites. In order to optimise the drilling season, the Joint Venture is consideringdrilling three additional exploration wells during 2007. To allow for thisoption, a two rig programme is being structured utilising the ROC-owned Explorerrig, currently being upgraded in the UK and the Simmons rig, currently beingupgraded in Dubai. Both rigs are scheduled to start drilling after the end ofthe wet season, which normally occurs between late March and end-April. The endof the wet season will also determine when construction of the rig access roadsand drill sites can be completed. Massambala-1 is expected to be the first well drilled, most likely by theExplorer rig, while the Simmons rig is expected to start drilling Caju-1 at theend-May/early June 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