Cyclone Warnings Suspend Offshore Australia Drilling for Roc Oil

Roc Oil (WA) Pty Limited reports that the Premium WilCraft jack-up drilling rig has drilled the Frankland-2 appraisal well in the Perth Basin offshore Western Australia to a depth of 1,579 mBRT, after setting 340mm casing at 1026 mBRT.

As of February 20, 2008, drilling operations have been temporarily suspended due to a cyclone warning. In the event that cyclonic activity increases, as per standard operating procedures non-essential crew will be transported to shore and remaining crew will undertake storm preparations and other duties as required.

Frankland-2 is an appraisal well approximately one kilometer north-east of the 2007 Frankland-1 gas discovery and is the second of the planned two well exploration/appraisal program in the region. Frankland-2 is scheduled to reach the proposed total depth of 2,278 meters by the end of February, 2008.

Participating Interests in the WA-286-P joint venture are: Roc Oil (WA) Pty Limited, 37.5%; AWE Oil (Western Australia) Pty Ltd, 27.5%; ARC Energy (Offshore PB) Limited, 30.0%; CIECO Exploration and Production (Australia) Pty Ltd, 5.0%.

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