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MENAFN - ProactiveInvestors - Australia - 13/11/2012

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(MENAFN - ProactiveInvestors - Australia) Roc Oil (ASX: ROC) and its partners are now re-examining the WZ 6-12 area in China's Beibu Gulf, South China Sea, for further exploration potential after making another oil discovery.

The WZ6-12-A7 deviated step-out exploration well intersected 10.4 metres of net oil pay in the Weizhou formation associated with the Sliver prospect and is now being completed for future production.

It also encountered 79 metres of net water wet sands with oil shows in the underlying Liushagang formation with up-dip potential remaining.

WZ6-12-A7 was the final well in the current three well drilling program.

All three wells will be integrated into the current Beibu Development Project and the well results will be utilised to further optimise the development wells.

The HYSY 931 Rig will start drilling development wells over the WZ6-12 Wellhead Platform after operations at WZ6-12-A7 are completed.

Partners in the Beibu exploration program are operator Roc with 40%, Horizon Oil (ASX:HZN) with 55% and Oil Australia with 5%. China's largest offshore oil and gas company CNOOC Limited has the option to participate in any discoveries made.

Development of the Beibu Project is ongoing with first oil production expected in early 2013.

 






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