Roc Oil Wraps Up Devt Drilling at Zhao Dong

Roc Oil (Bohai) Company, a wholly owned subsidiary of ROC, advised that the Zhao Dong 2009 development drilling program has been completed on schedule, within budget and without any safety or environmental incidents. During 2009 a total of 16 wells were drilled; 12 producer and 4 injector wells.

For the year to date, over 5 MMBBLs of oil have been produced from the Zhao Dong fields, including the Extended Reach Area ("ERA") (ROC: 24.5%) and C4 unitized fields (ROC: 11.575%). The average daily rate during August was 21,389 BOPD.

The second processing platform ("OPB") at Zhao Dong has been commissioned on schedule and within budget. OPB will almost double fluid handling capacity from 90,000 BFPD to 175,000 BFPD, which will increase oil production capacity from the fields and accommodate additional production from future development drilling. Additional higher water-cut wells that had been previously shut-in are now being brought back online and daily oil production is expected to increase as this process progresses.

OPB is the last of four platforms installed as part of the Incremental Development Plan ("IDP") for the Zhao Dong C and D Oil Fields and its commissioning represents the completion of facility development activities that started in early 2007.

Participating interests in Zhao Dong C and D and ERA Oil Fields are:

  • Roc Oil (Bohai) Company (Operator), 24.5%
  • PetroChina Company Limited, 51.0%
  • New XCL-China LLC, 24.5%