Roc Oil Begins Multi-Well Exploration Drilling Offshore China

Roc Oil (China) Company, a wholly owned subsidiary of ROC, is pleased to announce the commencement of a multi-well exploration/appraisal drilling program in Block 22/12, Beibu Gulf, offshore China.

On Jan. 1, 2008 the Premium Murmanskaya jackup rig commenced drilling the Wei 6-12W-1 well on the Wei 6-12 West Prospect, a stratigraphic-structural feature approximately 2.5 kilometers northwest of the Wei 6-12S-1 oil discovery which the Joint venture made in 2006.

The well, which is in 30 meters of water, is expected to reach Total Depth of approximately 2,425 meters later this month. The commencement of the drilling program was delayed by approximately two weeks because of rig equipment malfunctions which have now been rectified.

On Jan. 2, 2007 the current operation was drilling ahead in 171/2 inch hole at 560 meters.

The second well in the program will test the Wei 6-12 East Prospect, a structural-stratigraphic feature 1.7 kilometers east of the Wei 6-12S-1 oil discovery.

The third well in the program will be Wei 12-2-2, which will appraise a structure in the southern part of the Block which tested oil in 1993.

There is a potential for a fourth well in the form of a sidetrack/step-out if one of the first three wells makes a discovery which requires immediate appraisal. All of the wells will be operated by ROC using the Premium Murmanskaya jackup drilling rig. The entire drilling program is expected to be completed by the end of the first quarter of 2008.

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