Roc Oil Says Flying Foam 1 Disappointing

Roc Oil reports that the Flying Foam-1 wildcat well located offshore Northern Perth Basin, is drilling ahead at 1,360 meters Below Rotary Table towards a revised Total Depth of 1,370 mBRT. The well has drilled a gross 45 meter interval of sandstones with oil shows. Subject to more complete log evaluation at Total Depth, the initial indication is that these sands display very poor reservoir quality.

Unless significantly better reservoir is encountered, it is anticipated that the well will be plugged and abandoned after Total Depth has been reached and logging completed.

Flying Foam-1 is located in 65 meters of water, 160km northwest of Geraldton, Western Australia.

Following Flying Foam-1, the ENSCO 67 will relocate to the Cliff Head Oil Field, 230 km to the southeast, where the WA-286-P Joint Venture will utilize it for the installation of production facilities and development drilling of Cliff Head.

Partners in the WA-327-P Joint Venture are Roc Oil (WA) Pty Ltd as operator with 37.50%; Apache Northwest Pty Limited with 37.5%; Arc Energy with 20%; and Wandoo Petroleum Pty Ltd with the remaining 5%.

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