29th May 2007 07:02
Roc Oil Company Limited29 May 2007 28 May 2007 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE DRILLING ACTIVITY UPDATE: OFFSHORE PERTH BASIN EXPLORATION DRILLING - PERSEVERANCE-1 Roc Oil (WA) Pty Limited advises that, as of 0600 hrs Australian WesternStandard Time on 28 May 2007, an extensive wireline evaluation programme hadbeen completed at the Perseverance-1 exploration well and the well has beenplugged and abandoned as a gas discovery. Preliminary interpretation of drilling, wireline and pressure data indicatesthat the well intersected gas saturated sand over a gross interval of 31 metreswithin which there are 28 metres of net gas reservoir. The gas accumulation isat the top of the objective Permian section, interpreted as being equivalent tothe Dongara Sandstone and possibly the upper Irwin River Coal Measures.Reservoir quality appears to be poor to moderate. The Perseverance discovery is located in WA-325-P in the offshore Perth Basin,approximately 33 km west of Geraldton. The structure has a maximum verticalrelief of approximately 80 metres and is apparently gas-filled. Initialcalculations for the accumulation suggest in-place gas in the range of 20 - 50BCF. The forward programme for the Premium "Wilcraft" rig is to start drilling thefinal well in the three well programme, Dunsborough-1 in WA-286-P, approximately50 km southeast of Perseverance-1 and 25 km northwest of Frankland-1, later thisweek. Participating Interests in WA-325-P are: Roc Oil (WA) Pty Ltd (Operator)......................................37.5%Apache Northwest Pty Limited.........................................37.5%ARC (Offshore PB) Limited............................................20.0%Wandoo Petroleum Pty Ltd. (Mitsui & Co Group of Companies)............5.0%** Subject to a purchase agreement with ARC Energy Damian FisherGeneral ManagerExternal Affairs & Investor Relations For further information please contact: Dr John Doran on Tel: +61-2-8356-2000 Fax: +61-2-9380-2635 Email: [email protected] Or visit ROC's website: www.rocoil.com.au Dr Kevin Hird General Manager - Business Development Tel: +44 20 7495 5707/+61 2 8356 2000 Mob: +44 775136 7149/+61 417 261 727 Email: [email protected] 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 ExchangeRelated Shares:
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