Roc begins three-well program in Perth basin

Roc Oil Co. Ltd. subsidiary Roc Oil (WA) Pty. Ltd. plans to begin a three-well exploration drilling program in the offshore Perth basin, Western Australia, in early April 2007.

Offshore staff

SYDNEY, Australia -- Roc Oil Co. Ltd. subsidiary Roc Oil (WA) Pty. Ltd. plans to begin a three-well exploration drilling program in the offshore Perth basin, Western Australia, in early April 2007.

The three wells scheduled for drilling are Frankland-1 and Dunsborough-1 in WA-286-P, and Perseverance-1 in WA-325-P. ROC has contracted thePremium Wilcraft jackup drilling rig for the program, which expected to be completed in May.

"Since the 2001 discovery of the Cliff Head oil field with the first modern exploration well in the offshore Perth basin, eight exploration wells have been drilled in an attempt to find another Cliff Head or, preferably, something significantly bigger in this region, but all have been dry. From ROC's point of view, the imminent drilling program is probably the last roll of the dice, involving, as it does, two wells which are government commitment wells. If this program does not yield commercial encouragement, ROC will probably consolidate its Perth basin interest to Cliff Head and the immediately surrounding area and redirect its exploration dollars to other parts of its portfolio. If the program provides a commercial discovery, ROC will be 100% focused on working with its co-venturers to appraise and, if warranted, develop it as soon as possible," says John Doran, ROC CEO.

Participants in WA-286-P include Roc Oil (WA) Pty. Ltd. with 37.5% interest, AWE Oil (Western Australia) Pty. Ltd. with 27.5% interest, Wandoo Petroleum Pty. Ltd. with 24% interest, ARC (Offshore PB) Ltd. with 6% interest, and CIECO Exploration and Production (Australia) Pty. Ltd. with 5% interest.

Participants in WA-325-P are Roc Oil (WA) Pty. Ltd. with 37.5% interest, Apache Northwest Pty. Ltd. with 37.5% interest, ARC (Offshore PB) Ltd. with 20% interest, and
Wandoo Petroleum Pty. Ltd. with 5% interest.

3/13/2007

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