Zhao Dong: 2009 Development & Drilling Programme


 

TIDMROC 
 
RNS Number : 3185Q 
Roc Oil Company Limited 
08 April 2009 
 

8 April 2009 
 
 
ROC OIL COMPANY LIMITED ("ROC") 
 
 
STOCK EXCHANGE RELEASE 
 
 
 
 
ZHAO DONG BLOCK: 2009 DEVELOPMENT AND DRILLING PROGRAMME 
 
 
 
 
Roc Oil (Bohai) Company, a wholly owned subsidiary of ROC, advises that 
production has commenced from the first wells in the 2009 drilling programme in 
the Zhao Dong Block, Bohai Bay, offshore China. Total gross production from the 
Zhao Dong Block is currently approximately 21,500 BOPD. 
 
 
The C-51 well in the Extended Reach Area (ERA) of the C and D Oil Fields 
commenced production on 20 March and is currently producing at a rate of 
approximately 1,000 BOPD. A second production well, C-52, commenced production 
on 29 March and is currently producing at just over 2,000 BOPD. The third 
production well, D-43, was turned over to operations on 3 April. Following 
completion of D-43, one further production well will be drilled and two well 
workovers are planned before the 2009 drilling operations are completed at the 
ERA (ROC: 24.5%) and C4 Oil Fields (ROC: 11.575% unitised). 
 
 
A 12 well drilling programme is then planned to commence in mid-April in the C 
and D Oil Fields. 
 
 
The number of wells planned to be drilled at Zhao Dong is lower than 2008, and 
is focused on drilling higher yielding reservoir targets within the existing 
fields. The drilling programme aims to maintain the average production rate for 
the year at close to that achieved in 2008 (gross rate of 18,050 BOPD). 
 
 
Commissioning of ODB, the second drilling platform installed at Zhao Dong during 
2008, is progressing on schedule. The construction and fabrication of OPB, the 
second processing platform to be located at Zhao Dong, continues with 
installation and commissioning scheduled to be completed during 2H 2009. 
 
 
Participating interests in Zhao Dong C and D Oil Fields and ERA are: 
 
 
Roc Oil (Bohai) Company (Operator).....................24.5% 
PetroChina Company Limited.....................................51.0% 
New XCL-China LLC...................................................24.5% 
 
 
Commenting on the development programme at Zhao Dong, ROC's Chief Executive 
Officer, Bruce Clement, stated: 
 
 
"The recommencement of drilling at Zhao Dong is an important operational 
activity for ROC. Initial performance from the first production wells is 
positive and production rates for the first quarter of 2009 have improved on the 
2008 performance. This year's drilling programme and budget have been 
deliberately reduced, compared with prior years, to optimise funding and cash 
flow in the current economic climate. Importantly, the planned development 
drilling, in conjunction with the installation of additional production 
facilities, is forecast to maintain production at an average rate for the year 
close to that achieved in 2008. At this production rate, Zhao Dong represents 
approximately 35% of ROC's forecast production for 2009." 
 
 
Matthew Gerber 
Manager 
 Investor Relations & External Affairs 
 
 
For further information please contact: 
Mr Bruce Clement 
Chief Executive Officer 
Email: bclement@rocoil.com.au 
Tel: +61-2-8023-2000 
Fax: +61-2-8023-2221 
Or visit ROC's website: www.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 
 
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