Roc Oil Reports Oil Find at WA12-10-1 Well in Beibu Gulf Block 22/12
Roc Oil (China) Company, a wholly owned subsidiary of Roc Oil Company Limited, announced Monday that drilling was completed on the first of two exploration wells in the Beibu Gulf Block 22/12 offshore China. The WZ12-10-1 well has discovered oil pay in the Jiaowei (T42) formation, while no oil pay was interpreted in the Weizhou formation.
The WZ12-10-1 well was drilled to a total depth of 4,612 feet (1,406 meters) measured depth (MD)/4,504 feet (1,373 meters) true vertical depth subsea (TVDSS), where the Basement granite has been intersected. The well discovered oil in the very top of the Jiaowei (T42) formation over an interval of 18 feet (5.5 meters), with a high porosity net oil pay of 13.7 feet (4.2 meters). A sidetrack (WZ12-10-1Sa) was then drilled with 1,115 feet (340 meters) eastern step out to a total depth of 4,150 feet (1,265 meters) MD/3,625 feet (1,105 meters) TVDSS to prove up the updip T42 reservoir and confirmed oil in the very top of the Jiaowei (T42) formation with a thicker net oil pay of 18 feet (5.5 meters).
The well is located 2.9 miles (4.7 kilometers) northeast of the existing WZ12-8W Platform and approximately 1.6 miles (2.7 kilometers) west of the WZ12-8E discovery wells. Wireline evaluation logging program (NMR, MDT Pressuring and Sampling) has been run, which confirmed the oil pay in T42 reservoir. The well was plugged and abandoned on Sept. 27.
This discovery will be evaluated on how best to integrate it into the Beibu Project. Jackup HYSY 935 (300' ILC) -- formerly COSL 935 (300' ILC) -- will be moved to the WZ12-10-2 exploration location to drill the second and final well in this program.
Alan Linn, CEO stated "This oil discovery adds potentially valuable incremental oil to the Beibu project. The location of the oil discovery allows ROC and the joint venture to evaluate alternative development scenarios, particularly integration with the Beibu WZ12-8E oil discovery".
Participating interests in the Beibu Gulf Project are:
- 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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