13th Jan 2005 07:01
Roc Oil Company Limited13 January 2005 13 January 2005 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE MAURITANIA OFFSHORE DRILLING UPDATE Tiof-6 Appraisal Well - PSC B Since the last announcement made on Tuesday 11 January, evaluation of wirelineand drilling data, including downhole pressure measurements and fluid samplingindicates that Tiof-6 has intersected oil over a gross interval of at least 123metres. Wireline oil samples have been recovered to surface. It is interpretedthat no gas or water leg has been intersected by the well. The intervalcomprises several good quality sands of varying thickness, and meets thecriteria for flow testing. The well will thus be cased and temporarilysuspended, allowing the West Navigator rig to complete Chinguetti topholedrilling, before returning to resume Tiof-6 test preparations later this month. Chinguetti development drilling has priority over other drilling activity inthis campaign. The Joint Venture is committed to being flexible in rigscheduling in order to maximise the operational efficiencies of running two rigssimultaneously. Thus individual wells are occasionally re-scheduled at shortnotice, as with the Tiof-6 drilling and completion activities. CEO's Comment: "With a net to gross reservoir section comfortably within the broad 10% to 40%range established by other wells in the area, it will be interesting to see howthis well performs on test because, in the final analysis, deep water fielddevelopment is all about net pay and productivity". For further information please contact: Dr John Doran onBruce Clement Tel: +61-2-8356-2000Chief Operating Officer 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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