ROC is pleased to provide an activity update
outlining its current exploration and appraisal drilling programme.
1.
Block 22/12, Beibu Gulf, Offshore China
Roc Oil (China) Company, a wholly owned subsidiary
of ROC, advises that as at 0600 hours (local time) on 4 March 2008, the Wei
6-12E-1A well had been drilled to 1,970 mBRT and the current operation is
drilling ahead.
Wei 6-12E-1A is expected to reach the proposed Total
Depth of approximately 2,520 mBRT by the end of this week.
Participating Interests in the Block 22/12 Joint
Venture are:
Roc
Oil (China) Company (Operator)............................. 40%
Horizon
Oil Limited............................................................. 30%
Petsec
Petroleum*.............................................................. 25%
Oil Australia Pty
Ltd**........................................................... 5%
The
above interests are subject to Government participation in developments of up
to 51%
*a subsidiary of Petsec Energy Ltd **a subsidiary of First Australian
Resources
2.
WA-286-P, Perth Basin, Offshore Western Australia
Roc Oil (WA) Pty Limited, a wholly owned subsidiary
of ROC, advises that as at 0600 hours (local time) on 4 March 2008, the
Premium "WilCraft" jack-up drilling rig had drilled the
Frankland-2 appraisal well to a Total Depth of 2,330 mBRT.
The well intersected gas in the target sands confirming
hydrocarbons in the eastern region of the Frankland Field. The top of the
reservoir was encountered deep to prognosis and the gas column was thicker
than prognosed but the reservoir is of poorer quality than that encountered
in Frankland-1. The Frankland-2 well is currently being plugged and
abandoned.
ROC and the Joint Venture will fully evaluate the
data obtained from the well, and in conjunction with the results of the 3D
seismic survey currently being processed, the field will be re-evaluated for possible
further appraisal.
Frankland-2 is approximately one kilometre northeast
of the 2007 Frankland-1 well gas discovery.
Following the drilling of Frankland-2, ROC and the
Joint Venture plan to drill the Dunsborough-2 well which will appraise the
2007 Dunsborough oil discovery.
Participating Interests in the WA-286-P Joint
Venture are:
Roc
Oil (WA) Pty Limited (Operator)................................. 37.5%
AWE
Oil (Western Australia) Pty Ltd.................................... 27.5%
ARC Energy (Offshore PB) Limited...................................... 30.0%
CIECO Exploration and Production (Australia) Pty Ltd...... 5.0%
3.
Offshore Mauritania - PSC Area C, Block 6
Roc Oil (Mauritania) Company, a wholly owned
subsidiary of ROC, advises that as at 0600 hours (local time) on 3 March
2008, the Atwood "Hunter" drilling rig had drilled the
Khop-1 exploration well to a section Total Depth of 2,791 mBRT
The forward programme is to continue to run 133/8"
casing.
The Khop-1 exploration well is located approximately
70 kilometres
from the Mauritanian coast.
Participating Interests in the PSC Area C, Block 6
Joint Venture are:
Roc
Oil (Mauritania) Company.................................... 5.000%
PC
Mauritania I Pty Ltd (Operator).............................. 37.578%
Petronas Carigali Overseas Sdn Bhd........................ 35.000%
Tullow Oil
plc...................................................................
22.422%
4.
Blane Oil Field, North Sea
ROC's wholly owned subsidiary, Roc Oil (GB) Limited,
advises that the "Ocean Princess" rig is currently on
location to drill a water injection well to provide pressure support to the
two active producing wells.
The forward programme is to run a test tool and
pressure test prior to drilling ahead. The well is expected to be completed
towards the end of April 2008.
Unitised Interests in the Blane Oil Field are:
Roc
Oil (GB) Limited.........................................................
12.5%
Talisman
Energy (UK) Limited........................................ 25.0%
Talisman Energy Norge AS............................................. 18.0%
MOC Exploration (U.K.) Limited (a subsidiary of
Nippon Oil Corporation)................................................... 14.0%
ENI UK
Limited..................................................................
13.9%
ENI ULX
Limited..................................................................
4.1%
Bow Valley Petroleum (UK) Limited............................... 12.5%