29th Jan 2008 07:01
Roc Oil Company Limited29 January 2008 29 January 2008 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE DRILLING UPDATE: WEI 6-12W-1 EXPLORATION WELL, BLOCK 22/12, OFFSHORE CHINA Roc Oil (China) Company, a wholly owned subsidiary of ROC, advises that sinceits last Stock Exchange Release on 23 January 2008, the Wei 6-12W-1 explorationwell in Block 22/12 in the Beibu Gulf, offshore China, has drilled to a TotalDepth of 2,333 mBRT and wireline logging has been completed. Drilling and logdata indicate that Wei 6-12W-1 well has not encountered any hydrocarbons and thewell has been plugged and abandoned. Later this week, the Premium "Murmanskaya" jack-up drilling rig will commencedrilling Wei 6-12E-1, the second well in the three well drilling programme,which will test a structural-stratigraphic prospect 1.7 kilometres east of theWei 6-12S-1 oil discovery. Commenting on the Wei-6-12W-1 drilling results, Dr John Doran, ROC's ChiefExecutive Officer, stated that: "As stated at the beginning of the well, although stratigraphic traps can offerhigh reward they invariably carry increased risk. In this case, the risk wonover the reward." Participating Interests in the Block 22/12 Joint Venture are: Roc Oil (China) Company..................................... 40% (Operator)Horizon Oil Limited......................................... 30%Petsec Petroleum*........................................... 25%Oil Australia Pty Ltd**...................................... 5% The above interests are subject to Government participation in developments ofup to 51%*a subsidiary of Petsec Energy Ltd **a subsidiary of First Australian Resources In accordance with ASX and AIM Rules, the information in this Release has beenreviewed and approved by Dr John Doran, Chief Executive Officer, Roc Oil CompanyLimited, BSc (Hons) Geology, MSc and PhD. Dr Doran, who is a member of theSociety of Petroleum Engineers, has more than 30 years relevant experiencewithin the industry and consents to the information in the form and context inwhich it appears. 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)20 7495 5707/+61 (0)2 8356 2000 Mob: +44 (0)7751 3671 49/+61 (0)417 261 727 Email: [email protected] 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: [email protected] Mob: +44 (0)7802 875 227 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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