Roc hits oil and gas with Dunsborough-1

Roc Oil (WA) Pty. Ltd. says its Dunsborough-1 exploration well, WA-286-P, in the offshore Perth Basin, has been classified as a new field oil and gas discovery.

Offshore staff

PERTH, Western Australia -- Roc Oil (WA) Pty. Ltd. says its Dunsborough-1 exploration well, WA-286-P, in the offshore Perth Basin, has been classified as a new field oil and gas discovery.

Preliminary interpretation suggests that the well has intersected a minimum 25-m (82 ft) gross hydrocarbon column of which approximately 18 m (59 ft) is net pay. The accumulation appears to have a small (<13 m [42.6 ft]) gross gas column above an oil column containing light oil in sands of poor to moderate reservoir quality. Pressure data indicate that the total gross hydrocarbon column associated with the Dunsborough structure could be as much as 70 m (229.6 ft).

ROC estimates the structure could contain 20-40 MMbbl of oil in-place.

Dunsborough-1 lies 25 km (15.5 mi) south of Geraldton, Western Australia, and about 50 km (31 mi) northwest of the Cliff Head oil field. The well is the third and final well in an offshore Perth Basin drilling program that was initiated in early April, 2007 by the WA-286-P and WA-325-P joint ventures, both of which are operated by ROC.

Frankland-1, the first well of the program, was the gas discovery in WA-286-P, about 25 km (15.5 mi) southeast of Dunsborough-1. The second well, Perserverance-1, hit gas in WA-325-P, approximately 50 km (31 mi) northwest of Dunsborough.

Roc Oil operates WA-286-P are with 37.5% interest. Partners include AWE Oil (Western Australia) Pty. Ltd. with 27.5% interest, Wandoo Petroleum Pty. Ltd. (Mitsui & Co Group of Companies) 24.0% interest, ARC (Offshore PB) Ltd. with 6.0% interest, and Cieco Exploration and Production (Australia) Pty. Ltd. with 5.0% interest.

6/12/2007

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