Oil Discovery Offshore China
2006年5月10日 - 4:02PM
RNSを含む英国規制内ニュース (英語)
RNS Number:7146C
Roc Oil Company Limited
10 May 2006
10 May 2006
ROC OIL COMPANY LIMITED ("ROC")
STOCK EXCHANGE RELEASE
EXPLORATION DRILLING UPDATE:
WEI-6-12S-1 OIL DISCOVERY, OFFSHORE CHINA
KEY POINTS
* Preliminary analysis of initial wireline log data indicates that the
Wei-6-12S-1 exploration well, in Block 22/12 in the Beibu Gulf, offshore
China, is a potentially significant oil discovery.
* A gross interval of about 500 metres contains numerous separate reservoir
sands which collectively represent approximately 100 metres of net oil pay
with generally good reservoir characteristics. Overall individual sands
range in thickness up to 25 metres.
* The Block 22/12 Joint Venture is currently giving consideration to immediate
appraisal.
As at 0600 hours (local time) on 10 May 2006, a wireline logging programme was
being conducted, at a Total Depth of 2,535 metres below rotary table ("mBRT"),
at the Wei-6-12S-1 exploration well in Block 22/12, in the Beibu Gulf, offshore
China (Attachment 1#).
Preliminary analysis of the initial log data indicates that the gross reservoir
interval targeted by the well - sands within the Weizhou Formation of Oligocene
age - contains numerous oil-bearing sands. The top of the highest oil sand is at
about 1,950 mBRT and the base of the lowest oil sand is at 2,450 mBRT. The
intervening 500 metres is comprised of a gross sand-shale-silt sequence within
which individual oil-bearing sands range up to 25 metres in thickness. The total
collective net thickness of these oil sands is approximately 100 metres which
substantially exceeds the Joint Venture's most likely pre-drill expectation.
Consistent with such a thick net oil pay interval, reservoir characteristics
vary in fine detail but generally the majority of the oil-bearing sands display
good reservoir quality.
The Wei-6-12S prospect represents an unusual structural target: the area of
structural closure is relatively small (about one sq km) but the vertical
structural closure is considerable (up to 95 metres) and the gross prospective
reservoir section is very thick (500 metres). The well, which was designed to
penetrate most of the target sands about 30 metres down dip from the crest of
the structure, is located in about 30 metres of water, approximately 3 km
southwest of the 2002 Wei-6-12-1 oil discovery.
Commenting upon the discovery ROC's Chief Executive Dr John Doran stated that:
"* Anytime you get a 100 metres of good quality net oil pay, way beyond
pre-drill expectations, you can be forgiven for being cautiously optimistic.
* Prior to drilling the well ROC had two main technical concerns: trap
integrity and the structure's relatively small areal closure. Subsequent to
drilling we no longer have those concerns. The integrity of the trap is self
evident and although the structure does have a limited areal extent, that
factor is more than offset by the thickness of the multiple reservoir sand
sequence.
* It will take many weeks to collect and analyse all the data to the point
where we can begin to offer detailed comments on field size and commercial
implications. In the meantime, we can safely say that this well has
delivered a handsome discovery that certainly merits further appraisal."
The Block 22/12 Joint Venture comprises*:
Roc Oil (China) Company 40% and Operator
Horizon Oil Limited 30%
Petsec Energy Ltd 25%
Oil Australia Pty Ltd** 5%
*The China National Offshore Oil Company ("CNOOC") is entitled to participate up
to a 51% funding equity level in any commercial development within Block 22/12.
** A subsidiary of First Australian Resources
# Attachment 1 is available with the copy of this release on ROC's website
(http://www.rocoil.com.au/Public/Announcement/2006/Exploration_Drilling_Update_
Wei-6-12S-1_Oil_Discovery,_Offshore_China_100506.aspx)
________________________________________________________________________________
In accordance with new Alternative Investment Market of the London Stock
Exchange ("AIM") rules the information in this report has been reviewed by an
appropriately qualified person with more than 5 years relevant industry
experience, specifically, Dr John Doran, Bsc (Hons) Geology; M.Sc; PhD, Chief
Executive Officer, Roc Oil Company Limited, and a member of the Society of
Petroleum Engineers.
________________________________________________________________________________
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
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