Roc Oil Says Frankland-2 Well Results to be Further Evaluated

Roc Oil reports that the WilCraft jackup has drilled the Frankland-2 appraisal well to a Total Depth of 2,330 mBRT.

The well intersected gas in the target sands confirming hydrocarbons in the eastern region of the Frankland Field. The top of the reservoir was encountered deep to prognosis and the gas column was thicker than prognosed but the reservoir is of poorer quality than that encountered in Frankland-1. The Frankland-2 well is currently being plugged and abandoned.

ROC and the Joint Venture will fully evaluate the data obtained from the well, and in conjunction with the results of the 3D seismic survey currently being processed, the field will be re-evaluated for possible further appraisal.

Frankland-2 is approximately one kilometer northeast of the 2007 Frankland-1 well gas discovery.

Following the drilling of Frankland-2, ROC and the Joint Venture plan to drill the Dunsborough-2 well which will appraise the 2007 Dunsborough oil discovery.

Participating Interests in the WA-286-P Joint Venture are Roc Oil (WA) Pty Ltd as operator with 37.5%; AWE Oil (Western Australia) Pty Ltd with 27.5%; ARC Energy (Offshore PB) Limited with 20% and CIECO Exploration and Production (Australia) Pty Ltd. with the remaining 5%.

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