Lacula Suspends Castanha Appraisal Well

Lacula Oil Company, a wholly owned subsidiary of ROC, advises that the Castanha 3 ST-1 appraisal well has been drilled to a total measured depth of 2,525 metres and has been suspended. Castanha-3 ST1 is a sidetrack from the original Castanha-3 wellbore, which was abandoned with a cement plug due to operational issues.

Initial evaluation has indicated that the well encountered a gross hydrocarbon column of approximately 7 metres in the Chela Formation.

Production testing of the Castanha-2 and Castanha-3 appraisal wells is planned to commence during December after the Castanha-4 appraisal well has been drilled. Castanha-4 is expected to spud during the coming week.

Participating Interests in the Cabinda Onshore South Block are operator Pluspetrol Angola Corporation with 45%; Lacula Oil Company Limited (ROC) with 10%; Force Petroleum de Angola, S.A with 20%; Sonangol P&P, S.A with 20%; and Cuba Petroleo with 5%.