13th Mar 2007 07:03
Roc Oil Company Limited13 March 2007 13 March 2007 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE DRILLING UPDATE: THREE WELL EXPLORATION DRILLING PROGRAMME OFFSHORE PERTH BASIN Roc Oil (WA) Pty Limited, a wholly owned subsidiary of ROC, advises that a threewell exploration drilling programme is scheduled to commence in the offshorePerth Basin, Western Australia, in early April 2007. The three wells scheduled for drilling are Frankland-1 and Dunsborough-1 inWA-286-P, and Perseverance-1 in WA-325-P. The wells will be operated by ROCusing the "Premium Wilcraft" jack up drilling rig. The entire drilling programmeis expected to be completed during May 2007. Commenting on the drilling programme, ROC's Chief Executive Officer, John Doran,stated that: "Since the 2001 discovery of the Cliff Head Oil Field with the first modenexploration well in the offshore Perth Basin, 8 exploration wells have beendrilled in an attempt to find another Cliff Head or, preferably, somethingsignificantly bigger in this region, but all have been dry. From ROC's point ofview, the imminent drilling programme is probably the last roll of the diceinvolving, as it does, two wells which are government commitment wells. If thisprogramme does not yield commercial encouragement, ROC will probably consolidateits Perth Basin interest to Cliff Head and the immediately surrounding area andredirect its exploration dollars to other parts of its portfolio. If theprogramme provides a commercial discovery, ROC will be 100% focussed on workingwith its co-venturers to appraise and, if warranted, develop it as soon aspossible." Participating Interests in WA-286-P are:Roc Oil (WA) Pty Ltd....................................37.5%AWE Oil (Western Australia) Pty Ltd.....................27.5%Wandoo Petroleum Pty Ltd................................24.0%ARC (Offshore PB) Limited................................6.0%CIECO Exploration and Production (Australia) Pty Ltd.....5.0% Participating Interests in WA-325-P are:Roc Oil (WA) Pty Ltd....................................37.5%Apache Northwest Pty Limited............................37.5%ARC (Offshore PB) Limited...............................20.0%Wandoo Petroleum Pty Ltd.................................5.0% 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 (0)207 586 7935 Fax: +44 (0)207 722 3919 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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