Roc Spuds Massembala-1 in Angola
Roc Oil (Cabinda) Company, a wholly owned subsidiary of Roc, reported that, as of 4 p.m. on 9 June 2007 (local time), the Roc-owned "Explorer" rig commenced drilling the Massambala-1 exploration well in the Cabinda South Block, onshore Angola.
As at 6 p.m. on 11 June 2007 (local time) the current operation was waiting on cement prior to drilling ahead.
Massambala-1, a directionally drilled well located on the coastal plain south of Cabinda City, is the first of a minimum five well exploration drilling program to be operated by Roc onshore Angola during 2007. It is currently anticipated that Massambala-1 will reach a Total Depth of 2,185 meters by early August.
Roc will issue Stock Exchange releases documenting the progress and results of its drilling operations in Angola as material information becomes available although this will not necessarily be on a weekly basis. This reporting rationale reflects the fact that oil and/or gas shows are not uncommon in the region and therefore reporting hydrocarbon shows in isolation, as and when they are encountered, regardless of magnitude and prior to receiving additional back-up log data, may not be material.
Participating Interests in the Cabinda South Block are:
--Roc Group Companies (Operator), 60% --Force Petroleum Limited, 20% --Sonangol P&P S.A., 20%
Commenting on the commencement of drilling onshore Angola, Roc's Chief Executive Officer, Dr John Doran, stated:
"The commencement of the first well in 35 years onshore Cabinda might be regarded as a significant event, but Roc's focus is not on any sense of occasion, as much as the operational end of our business, including the continuing interaction with the local communities, who have been very supportive of our efforts to date. If these aspects of Roc's work in Cabinda continue to flourish then, from here on in, the rocks should be able to speak for themselves. While nobody can be sure as to what the drill bit will find it certainly looks as if the next many months will be quite an interesting period for the Company and its shareholders."
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