13th Sep 2007 07:01
Roc Oil Company Limited13 September 2007 13 September 2007 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE ACTIVITY UPDATE: PRODUCTION NORTH SEA - FIRST OIL FLOWS FROM THE BLANE OIL FIELD ROC's wholly owned subsidiary, Roc Oil (GB) Limited, is pleased to advise thaton 12 September 2007, the Blane Oil Field started production. Gross productionrates are expected to quickly rise to approximately 17,000 BOEPD (ROC: 2,125BOEPD), almost entirely oil. Blane is tied back to the BP-operated Ula OilField, 34 kilometres to the northeast in Norway, from where the oil will betransported via a sub-sea pipeline to the Teeside Oil Terminal in the UK. The Blane Oil Field, operated by Talisman Energy (UK) Limited, is located in UKBlock 30/3a and Norwegian Block 1/2, about 260 kilometres east of Aberdeen.Because the field straddles the UK and Norwegian international boundary it hasbeen unitised: 82% (UK) and 18% (Norway). As previously reported the field'sgross proved and probable (2P) reserves are estimated to be 30.4 MMBOE (ROC:3.8MMBOE), 97% oil. Commenting on the Blane start-up, ROC's Chief Executive Officer, John Doranstated that: "Blane further diversifies ROC's production base which now comprises oilproduction, from six fields in four countries. Coming along behind Blane duringthe next year or two are field developments offshore China and appraisalprojects relating to recent discoveries offshore Western Australia and onshoreAngola." Unitised Interests in the Blane Oil Field are: Roc Oil (GB) Limited.......................................................12.5%Talisman Energy (UK) Limited...............................................25.0%Talisman Energy Norge AS...................................................18.0%MOC Exploration (U.K.) Limited (a subsidiary of Nippon Oil Corporation)....14.0%ENI UK Limited.............................................................13.9%ENI ULX Limited.............................................................4.1%Bow Valley Petroleum (UK) Limited..........................................12.5% 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 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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