24th Mar 2006 07:02
Roc Oil Company Limited24 March 2006 24 March 2006 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE JACALA-1 COMMENCES DRILLING, OFFSHORE WESTERN AUSTRALIA ROC advises that the BHP Billiton-operated Jacala-1 wildcat exploration well inWA-351-P commenced drilling on 23 March 2006. The current operation at 0600 hrsWestern Standard Time on 24 March 2006 is that the well has been drilled to adepth of 1,128 metres below rotary table and the 30 inch conductor is beinginstalled. The well is located in the deep water Carnarvon Basin, offshore WesternAustralia, approximately 200 km west of Barrow Island and 100 km northwest ofthe Enfield Oil and Gas Field. The Atwood Eagle semi submersible rig is drilling the well in approximately1,060 metres of water to a proposed total depth of 2,322 metres. The well isexpected to have reached total depth and been logged in about 18 days. As defined by 2D seismic, the Jacala-1 prospect is a very large, simple, 4-waydip closed structure covering more than 300 sq km/70,000 acres with a verticalrelief in excess of 100 metres/300 feet. The reservoir target is a sandstonesequence equivalent in age to the Barrow Group which is well established as aproductive reservoir elsewhere in the Basin. Commenting on Jacala-1, ROC's Chief Executive Officer, Dr John Doran statedthat: "ROC shareholders are well aware of the high risk - high reward of Jacala-1. Ifthe well turns out to be a commercial discovery then ROC will be a verydifferent company. If the well is dry, the Company is well placed to manage thefinancial consequences, particularly since the imminent start-up of productionat the Cliff Head Oil Field will provide ROC with a tax efficiency forexploration offshore Australia, that it has not previously enjoyed." The WA-351-P Joint Venture comprises: EquityBHP Billiton Petroleum (North West Shelf) Pty Ltd 55.0% & OperatorTap (Shelfal) Pty Ltd 25.0%Roc Oil (WA) Pty Ltd 20.0% Michelle Manook For further information please contact:General Manager - Corporate Affairs 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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