Roc Oil Spuds First of Two Wells in Beibu Gulf Block 22/12 Offshore China

Roc Oil (China) Company, a wholly owned subsidiary of Australia's Roc Oil Company Limited announced Thursday that drilling has commenced on the first of two exploration wells in Beibu Gulf Block 22/12 offshore China. The first well, WZ12-10-1, is targeting the T42 and Weizhou West formations, adjacent to the WZ12-8 East field of the WZ12-8 Development Area. Concurrently, the Development Area has been expanded to fully include the prospect, adding approximately 3.3 square miles (8.8 square kilometers) area, making the total new WZ12-8 Development Area 25.7 square miles (66.6 square kilometers).

Drilling from jackup HYSY 935 (300' ILC) -- formerly COSL 935 (300' ILC) -- commenced at 10.30 pm China Standard Time Sept. 10. Total depth planned for this vertical well is (1,539 meters) total vertical depth (TVD). The well is located 2.9 miles (4.7 kilometers) East Northeast from ROC’s existing Beibu 12-8W facilities and is in water depth of approximately 114 feet (35 meters).

Alan Linn, CEO stated “this exploration program in Beibu is following on from the successful exploration and development programs of WZ6-12 and 12-8W fields in 2012/13. It is targeting incremental volumes to the 12-8W project and the future 12-8E project and will also provide an expansion of the existing development acreage from 22.3 to 25.7 square miles (57.8 to 66.6 square kilometers) allowing further future exploration and development activities”.

Participating interests in the Beibu Gulf Project are:

  • Exploration: CNOOC - 0 percent; Roc Oil (China) Company - 40 percent; Horizon Oil (Beibu) Ltd. and Petsec Petroleum LLC (wholly owned by Horizon Oil Limited) - 55 percent; Oil Australia Pty Ltd. (Majuko Corp.) - 5 percent
  • Production and Development: CNOOC - 51 percent; Roc Oil (China) Company - 19.6 percent; Horizon Oil (Beibu) Ltd. and Petsec Petroleum LLC (wholly owned by Horizon Oil Limited) - 26.95 percent; Oil Australia Pty Ltd. (Majuko Corp.) - 2.45 percent

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