Roc Oil to P&A Frankland-1 as a Gas Discovery

Roc Oil says that the Frankland-1 well is being plugged and abandoned as a gas discovery. The well was drilled to a Total Depth of 2,340 meters Below Rotary Table ("mBRT") and an extensive evaluation program has been carried out.

Preliminary interpretation of wireline and pressure data suggests that the well intersected 35 meters of gas saturated sand of which approximately 28 meters appear to be net pay of moderate to good quality. The gas sand is at the top of the objective section at 1,986 mBRT and is interpreted as being equivalent to the Dongara Sandstone. Underlying the gas sand there are 232 meters of shales interbedded with generally tight sands with gas indications down to approximately 2,065 mBRT. Below this shale-sand sequence there are several water-bearing sands near Total Depth. An obvious gas-water contact was not seen in the well and further evaluation is required to determine how much of the structure, which has a vertical relief of more than 100 m, is gas filled. Initial calculations for the 35 meter gas sand suggest in-place gas could range between 60 and 90 billion cubic feet. On balance the well data suggest that if an oil leg is present it is likely to be small.

The forward program for the Wilcraft is to move to the Perserverance-1 exploration well location in WA-325-P, approximately 80 km north of Frankland-1, where drilling is expected to start prior to the end of the week.

Participating Interests in WA-286-P are Roc Oil as operator with 37.5%; AWE with 27.5%; Wandoo Petroleum with 24%; ARC Offshore with 6% and CIECO Exploration with 5%.

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