Roc Oil Halts Production at Saltfleetby-5 Wel

Last week Roc Oil reports that the Saltfleetby-5 well, which had been producing gas at a rate of approximately 3 MMSCF per day, ceased production following a rapid rise in water production. The source of the problem may relate to a mechanical failure of the inflatable plugs, set in casing below the main gas reservoir in August 2002, to isolate the deeper water-producing Namurian interval. If this is the case, it may be possible to restore the integrity of the isolation through a work-over operation, using coiled tubing. This operation is expected to start before the end of January, 2004 and to be completed during early February, 2004.

The Saltfleetby-7 well, which was completed for production in December 2003 and flowed approximately 2.5 MMSCF per day during a short clean-up flow, has been hooked up for permanent production. When it was brought on to production the well under-performed against expectations and will be worked over during February with the aim of establishing production in the order of the 2 to 3 MMSCF per day as in accordance with the potential indicated by the clean-up flow.

In the absence of Saltfleetby-5 and Saltfleetby-7, the Saltfleetby Field is continuing to produce gas at about 20 MMSCF per day.

Roc is owner of the Saltfleetby field and holds a 100% interest.