Rockpool Acqui Regulatory News (ROC)

28 Mar 2008 07:02

Roc Oil Company Limited28 March 2008 28 March 2008 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE DRILLING ACTIVITY UPDATE: DUNSBOROUGH-2, OFFSHORE PERTH BASIN, WESTERN AUSTRALIA Roc Oil (WA) Pty Limited, a wholly owned subsidiary of ROC, advises that, sinceits last Stock Exchange Release on 26 March 2008, the Dunsborough-2 appraisalwell in WA-286-P, in the offshore Perth Basin, Western Australia, has recovereda second core to surface. Both 24 metre cores cut during the last three days had100% recovery and good oil shows throughout the 48.6 metre total cored intervalfrom 1,515 to 1,563.5 mBRT. As at 0600 hours on 28 March 2008 (local time), the current operation atDunsborough-2 was recovering Core No 3 in an effort to define the oil watercontact. At top reservoir level Dunsborough-2 is 47 metres down structure fromDunsborough -1, which is 1.6 kilometres to the north and from which light (39oAPI) oil was recovered. The top of the cored interval in Dunsborough-2 is twometres below the top of the reservoir which was encountered 25 metres high toprognosis. Dunsborough-2 is scheduled to reach the proposed Total Depth of approximately1,680 mBRT during the next several days. Subject to completing the coring programme, drilling to Total Depth and runninga full suite of logs, including wireline sampling, this latest well appears topoint to a potentially significant gross hydrocarbon column both at theDunsborough-2 well and for the field as a whole. Participating Interests in the WA-286-P Joint Venture are: Roc Oil (WA) Pty Limited (Operator)....................37.5% ARC Energy (Offshore PB) Limited.......................30.0% AWE Oil (Western Australia) Pty Ltd....................27.5% CIECO Energy Australia Pty Ltd..........................5.0% Commenting on the Dunsborough-2 appraisal well, ROC's Chief Executive Officer,John Doran stated that: "Subject to all the usual - and very valid - caveats about obtaining furtherdata between now and the end of the well, the Dunsborough-2 results to dateappear to be quite encouraging, particularly given that it is about 50 metresdown structure and 1.6 kilometres south of the discovery well. While it is way too early to offer any comment regarding reserves, a comparisonof the basic dimensions of the Dunsborough and Cliff Head structures might helpprovide shareholders and potential investors with a rough perspective shouldDunsborough-2 prove to have producible oil. Cliff Head, about 50 km south ofDunsborough, had original recoverable proved and probable oil reserves of almost16 MMBO; covers an area of about 6 sq km and has a gross oil column ofapproximately 60 metres. Dunsborough, as currently understood, covers around 5sq km and has the capacity for a 90 metre gross oil column." In accordance with ASX and AIM Rules, the information in this Release has beenreviewed and approved by Dr John Doran, Chief Executive Officer, Roc Oil CompanyLimited, BSc (Hons) Geology, MSc and PhD. Dr Doran, who is a member of theSociety of Petroleum Engineers, has more than 30 years of relevant experiencewithin the industry and consents to the information in the form and context inwhich it appears. 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 (0)20 7495 5707/+61 (0)2 8356 2000 Mob: +44 (0)7751 3671 49/+61 (0)417 261 727 Email: khird@rocoil.com.au Michael Shaw Oriel Securities Limited (Nominated Adviser) Tel: +44 (0)20 7710 7600 Bobby Morse Buchanan Communications Tel: + 44 (0)20 7466 5000 Fax: + 44 (0)20 7466 5001 E-Mail: bobbym@buchanan.uk.com Mob: +44 (0)7802 875 227 This information is provided by RNS The company news service from the London Stock Exchange