Activity Update

RNS Number:8910P
Roc Oil Company Limited
12 March 2008


12 March 2008

                         ROC OIL COMPANY LIMITED ("ROC")
                             STOCK EXCHANGE RELEASE

                                ACTIVITY UPDATE

ROC is pleased to provide the following activity update.

1. Zhao Dong C&D Oil Fields and C4 Oil Field, Bohai Bay, Offshore China

Roc Oil (Bohai) Company, a wholly owned subsidiary of ROC, is pleased to report
that the precursor to 2008 development drilling programme has commenced with
slot recoveries and well completions. The 2008 drilling programme in the C&D Oil
Fields, the C4 Oil Field and the Extended Reach Area will comprise of up to a
total of 24 wells being a mix of oil producers and water injectors with the
first well expected to commence drilling by early April.

Participating Interests are:

Roc Oil (Bohai) Company (Operator)*.............................24.5%
PetroChina Company Limited......................................51.0%
New XCL-China LLC...............................................24.5%
*C4 Unitised Interest - 11.575%

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 12 March 2008, the Premium "WilCraft" jack-up
drilling rig was waiting on weather prior to moving to Dunsborough-2, 26
kilometres to the north.

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. PSC Area C, Block 6, Offshore Mauritania

Roc Oil (Mauritania) Company, a wholly owned subsidiary of ROC, advises that as
at 0600 hours (local time) on 11 March 2008, the current operation at the Khop-1
exploration well was running 9-5/8" casing at a depth of 3,262 mBRT.

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. Cabinda South Block, Onshore Angola

Roc Oil (Cabinda) Company, a wholly owned subsidiary of ROC and operator of the
Cabinda South Block, onshore Angola, is pleased to provide the following update
with respect to its current seven well exploration drilling programme.

  * As previously announced, the Milho-1 exploration well commenced drilling
    on 21 November 2007. Although it is the fourth well in the programme,
    Milho-1 is the first well in the current drilling programme to specifically
    target a pre-salt structure which is the sequence which contains most of the
    oil reserves in the adjacent area offshore Cabinda. All three of the wells
    to be drilled subsequent to Milho-1 will also target pre-salt structures.

  * Milho-1 has reached Total Depth after encountering what appears to be a
    classic pre-salt sequence characterised by a thick world class source rock,
    with significant oil and gas shows, from which oil has been recovered via
    wireline sampling. This sequence overlies a thick sand interval with good
    reservoir quality. While the well is judged to be non-commercial, Milho-1,
    which is approximately 12 kilometres inland, is only the second well in this
    part of the Block to penetrate a full pre-salt sequence to basement and, as
    such, it is a very important data point. It provides the first modern
    sub-surface evidence that the pre-salt petroleum system, which is so
    prolific in the adjacent offshore area, underlies a considerable portion of
    the onshore Cabinda South Block. The lack of shows in the pre-salt reservoir
    may relate to the well being down dip from the top of the structure.

  * During March 2008, the rig will move to the Coco-1 location, about 1.5
    kilometres north of Milho-1. Coco-1 is expected to commence drilling in
    early April and to have reached Total Depth by end May 2008.

  * Immediately after finishing Coco-1 the rig is expected to move to the
    Sesamo-1 location to test a large pre-salt prospect in the eastern part of
    the Block.

Consistent with ROC's established practice regarding its Angolan drilling
activity, the Company will only issue public statements at the beginning and end
of each drilling operation after the relevant information has been collected and
carefully analysed.

Roc Oil (Cabinda) Company is also pleased to provide the following update
regarding the shallow (400 metres) Massambala Heavy Oil Field which was
discovered in August 2007 by the first well in the current programme.
Specifically:

  * ROC and its co-venturers are currently considering an optimal field
    appraisal programme the first stage of which has been agreed: an MTEM
    subsurface resistivity survey scheduled to commence in 2Q 2008. The
    possibility of drilling several shallow Massambala appraisal wells during 2H
    2008 is also being considered and a final decision is expected by April
    2008.

  * As a result of reprocessing 3D seismic in order to clarify the shallow
    seismic events, the areal and vertical closures of the 4-way dip Massambala
    structure have been confirmed as approximately 24 square kilometres and 24
    metres respectively. Laboratory studies of core material in Canada have
    confirmed the heavy nature of the oil and the excellent quality of the
    reservoir sands which have porosities up to 35% and permeabilities up to 10
    Darcys. On this basis the currently estimated potential P90-P50-P10 in-place
    oil resource at Massambala approximates to 50-200-400 MMBOIP, respectively.

Participating Interests in the Cabinda South Block are:

Roc Group Companies.............................................60%
Force Petroleum Limited.........................................20%
Sonangol P&P S.A................................................20%

5. Blane Oil Field, North Sea

Roc Oil (GB) Limited, a wholly owned subsidiary of ROC, advises that as of 0600
hours (local time) on 11 March 2008, the "Ocean Princess" rig was logging the 
30/3a-3 pilot hole which has been drilled to a Total Depth of 3,542 mBRT.

The forward programme will evaluate the wireline logs to finalise the mechanics
of completing the well or a sidetrack thereof as a planned water injector.

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 (UK) 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%

In accordance with ASX and AIM Rules, the information in this Release has been
reviewed and approved by Dr John Doran, Chief Executive Officer, Roc Oil Company
Limited, BSc (Hons) Geology, MSc and PhD. Dr Doran, who is a member of the
Society of Petroleum Engineers, has more than 30 years of relevant experience
within the industry and consents to the information in the form and context in
which it appears.

Damian Fisher
General Manager
External 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

END
MSCIIFSIVTIFLIT
Rockpool Acquisitions (LSE:ROC)
過去株価チャート
から 6 2024 まで 7 2024