1. Block 22/12, Beibu Gulf, Offshore China (ROC: 40% & Operator)
Roc Oil (China) Company, a wholly owned subsidiary of ROC, advises that since its last Stock Exchange Release on 13 February 2008, the Premium "Murmanskaya" jack-up rig has re-spudded the Wei 6-12E well as Wei 6-12E-1A.
The well was required to be re-spudded due to problems associated with retrieving stuck drill pipe. Wei 6-12E-1A is located approximately two metres from the original hole. The well's target remains unchanged: a stratigraphic-structural prospect, approximately 1.7 kilometres east of the Wei 6-12S-1 oil discovery.
As at 0600 (local time) on 20 February 2008 the well had been drilled to 253 mBRT and the current operation is repairing the top drive.
Wei 6-12E-1A, the second of the planned three well exploration/appraisal. programme in Block 22/12, Beibu Gulf, offshore China, is expected to reach the proposed Total Depth of approximately 2,520 mBRT by early March 2008.
Participating Interests in Block 22/12 Joint Venture are:
Roc Oil (China) Company.................................................. 40% (Operator)
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: 37.5% & Operator)
Roc Oil (WA) Pty Limited, a wholly owned subsidiary of ROC, advises that since its last Stock Exchange Release on the 13 February 2008, the Premium "WilCraft" jack-up drilling rig has drilled the Frankland-2 appraisal well to a depth of 1,579 mBRT, after setting 340mm casing at 1026 mBRT.
As at 20 February 2008 drilling operations have been temporarily suspended due to a cyclone warning. In the event that cyclonic activity increases, as per standard operating procedures non essential crew will be transported to shore and remaining crew will undertake storm preparations and other duties as required.
Frankland-2 is an appraisal well approximately one kilometre north-east of the 2007 Frankland-1 gas discovery and is the second of the planned two well exploration/appraisal programme in the region. Frankland-2 is scheduled to reach the proposed Total Depth of 2,278 metres by the end of February, 2008.
Participating Interests in the WA-286-P joint venture are:
Roc Oil (WA) Pty Limited....................................................... 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: 5 %)
Roc Oil (Mauritania) Company, a wholly owned subsidiary of ROC, advises that the Atwood "Hunter" drilling rig arrived on the Khop-1 well location in PSC Area C, Block 6, on 14 February 2008.
The rig commenced drilling the Khop-1 exploration well at 1700 hours (local time) on 17 February 2008. The well is located approximately 70 kilometres off the Mauritanian coast.
Participating Interests in the PSC Area C, Block 6 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%