Sale of Saltfleetby Gas Field

24 Jan 2005 07:00

Roc Oil Company Limited24 January 2005 24 January 2005 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE ROC CLOSES SALE OF SALTFLEETBY GAS FIELD Consistent with its public announcements dated 21 December 2004 and 20 January2005 ROC is pleased to confirm that in London on Friday, 21 January 2005, itclosed the £44 million/A$108.5 million (at current exchange rates) sale of theSaltfleetby Gas Field to the WINGAS GmbH a joint venture which consists ofWintershall AG and OAO Gazprom. Commenting on the placement, ROC's chief Executive Officer, Dr John Doran statedthat: "Settlement of the sale within three weeks of the effective date is a credit toall participants. As a result of the receipt of the sale proceeds together withthe monies due from the premium placement announced earlier today ROC has justover A$200 million in cash and receivables and no debt." Bruce Clement For further information please contact:Chief Operating Officer Dr John Doran on Tel: +61-2-8356-2000 Fax: +61-2-9380-2635 E-mail: 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