Sydney, Jan 23, 2008 (ABN Newswire) - Wei 6-12W-1 Exploration Well, Beibu Gulf Block 22/12, Offshore China
Drilling ahead at a depth of 2,106 mBRT
Roc Oil (China) Company, a wholly owned subsidiary of ROC, advises that since its last Stock Exchange release on 16 January 2008, the Wei 6-12W-1 exploration well in Block 22/12 in the Beibu Gulf, offshore China, has set 9-5/8 inch casing at 1,837 mBRT. As at 0600 hours (local time) the current operation was drilling ahead at 2,106 mBRT towards a prognosed Total Depth of 2,425 mBRT.
The Wei 6-12W-1 well, located in 30 metres of water, is being drilled by the Premium "Murmanskaya" jack-up drilling rig approximately 2.5 kilometres northwest of the Wei 6-12S-1 oil discovery.
Participating Interests in the Block 22/12 Joint Venture are:
Roc Oil (China) Company.............40% (Operator)
Horizon Oil Limited.................30%
Petsec Petroleum*...................25%
Oil Australia Pty Ltd**..............5%
The above interests are subject to Government participation in developments of up to 51%
* a subsidiary of Petsec Energy Ltd
**A subsidiary of First Australian Resources
