Vindara-1 Well to be Abandoned

Roc Oil reports that drilling operations were continuing at a depth of 1,700 meters below Rotary Table at the Vindara-1 exploration well in WA-286-P, in the northern part of the offshore Perth Basin. However, there have been no indications of significant hydrocarbons. The well is currently being prepared for drilling ahead to Total Depth. Regardless of the results of Vindara-1, the well will be plugged and abandoned following wireline logging.

The Vindara Prospect, which straddles the boundary between WA-286-P and TP/15, is approximately 6.5 kilometers southeast of the Cliff Head Oil Field.

Vindara-1 is the fourth well in a multi-well drilling program being conducted on a back-to-back basis in WA-286-P and the adjacent TP/15. The WA-286-P Joint Venture has agreed to drill at least one further well after Vindara-1: Cliff Head-4 ("CH-4"), an appraisal well in the Cliff Head Field. The full extent of the program will be determined after the results of CH-4 are known.

The WA-286-P Joint Venture partners are Roc Oil as operator with 30%; AWE Oil with 27.5%; Wandoo Petroleum with 25%; ARC Energy with 7.5%; voyager energy with 5%; and Westranch Holdings with the remaining 5%.