ROC sells Carnarvon interest to Woodside

Roc Oil (WA) Pty Ltd. has agreed to sell its 20% interest in offshore Western Australia permit WA-351-P in Carnarvon basin.

Offshore staff

SYDNEY, Australia – Roc Oil (WA) Pty Ltd. has agreed to sell its 20% interest in offshore Western Australia permit WA-351-P in Carnarvon basin.

"ROC's strategy is to generate future growth through exploration, appraisal and pre-development opportunities located in Asia and Australasia, preferably as operator,” said Alan Linn, acting CEO. “The nature of the WA-351-P asset is not consistent with ROC's strategy. The monetization of the WA-351-P asset will allow ROC to redeploy capital and resources to pursue opportunities more consistent with the company's strategy.”

12/20/2010

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