19th Jul 2006 07:01
Roc Oil Company Limited19 July 2006 19 July 2006 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE DRILLING UPDATE WEI-6-12S-1, OIL DISCOVERY, OFFSHORE CHINA Since the last Stock Exchange Release on 12 July 2006 regarding the firstsidetrack Wei-6-12S-1Sa, drilled from the Wei-6-12S-1 oil discovery in Block 22/12, Beibu Gulf, offshore China, a second sidetrack Wei-6-12S-1Sb commenceddrilling on 13 July 2006. As at 0600 hours (local time) on 19 July 2006, the second sidetrack had beendrilled to a depth of 2,217 metres below Rotary Table ("mBRT") and was at alateral distance of about 300 metres from the original well and approximately 50metres vertically downdip from equivalent horizons in that well. The current operation is drilling ahead in the main reservoir section, theWeizhou Formation, towards a proposed Total Depth of 2,849 mBRT. The second sidetrack is a relatively aggressive step-out to the southwest of theoriginal discovery well. It is designed to intersect a number of the reservoirintervals downdip from the original discovery well. While the reservoirequivalents of the original well, expected to be encountered in the lower partof the second sidetrack, are likely to be water-bearing because they are aconsiderable distance downdip, the hope is that the second sidetrack willencounter one or more downdip oil legs in the higher part of the WeizhouFormation.The second sidetrack has an exploration element which will target a specificsand not present in the original well but may possibly be present towards thebottom of the second sidetrack. The detailed outcome of the drilling will not be known until next week when thesecond sidetrack is expected to have been logged at Total Depth.The Block 22/12 Joint Venture comprises*: Roc Oil (China) Company 40% and Operator Horizon Oil Limited 30% Petsec Energy Ltd 25% Oil Australia Pty Ltd** 5% \* The China National Offshore Oil Company ("CNOOC") is entitled to participate upto a 51% funding equity level in any commercial development within Block 22/12.** A subsidiary of First Australian Resources 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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