Roc Oil confirms northern extent of South China Sea oil field

2012-11-5

Roc Oil and its partners have confirmed the northern extent of the WZ6-12 South field in China’s Beibu Gulf, South China Sea, after an exploration well encountered hydrocarbons in multiple zones.

WZ6-12-A6, the second well in a three well exploration and appraisal program, intersected 58 metres of net oil pay in the target Weizhou formation.

The thickest individual pay interval is 38 metres.

Production liner will be run to enable future completion and tie-in for production.

Roc and its partners have now spudded the WZ6-12-A7 well to test the Sliver and Liushagang exploration prospects located to the north of the WZ6-12 South field.

Provision has been made in the facility design of the WZ6-12 South field to provide capacity for new oil zones discovered in the exploration drilling program.

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 targeted for the end of 2012 with ramp up to full production expected during 2013.

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