13 Dec 2005 07:02
Roc Oil Company Limited13 December 2005 13 December 2005 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE DRILLING ACTIVITY UPDATE FAUCON-1 EXPLORATION WELL, OFFSHORE MAURITANIA ROC advises that since the Company's last "Drilling Activity Update" on 6December, 2005, the "Stena Tay" drilling rig has continued operations on theFaucon-1 exploration well in Block 1, offshore Mauritania. During the week the well drilled an 8 1/2" hole from 3,536 metres to the currentdepth of 3,674 metres. Due to increasing formation pressure it was decided torun a 7" liner and this has now been cemented in place. The current operation ispreparing to drill ahead in 6" hole to the planned total depth of 4,237 metres. An intermediate logging programme was completed over the Upper Cretaceousinterval, above 3,536 metres. This included reservoir pressure measurements andreservoir fluid sampling. Initial interpretation of the data collected indicatesthe presence of two hydrocarbon bearing sandstones, some 150 metres apart. Thelower sandstone has a gross thickness of approximately 40 metres of which theupper 10 metres contains a hydrocarbon which appears to be a light oil or aliquids rich gas-condensate. The upper sandstone is approximately four metresthick and is currently interpreted to be gas bearing. The precise composition ofthe hydrocarbon fluids recovered from both zones will not be finally determineduntil the fluid samples have been fully analysed in an onshore laboratory. The logged interval appears to correspond to an upper reservoir target objectiveand there is potential for other sands to be encountered in the > 500 metresection which is yet to be drilled. Faucon-1 is located in 1,162 metres of water, 140 km south of the Chinguetti OilField. The Joint Venture Interests in Block 1 are:+----------------------------------------+------------+| | Equity |+----------------------------------------+------------+|Dana Petroleum (E&P) Limited (Operator) |36.0% |+----------------------------------------+------------+|Gaz de France UK B.V. |24.0%* |+----------------------------------------+------------+|Tullow Oil |20.0% |+----------------------------------------+------------+|Hardman Petroleum (Mauritania) Pty |18.0% ||Limited | |+----------------------------------------+------------+|Roc Oil (Mauritania) Company |2.0% |+----------------------------------------+------------+* Subject to farmin from Dana 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: jdoran@rocoil.com.au 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: khird@rocoil.com.au 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 Exchange