| Exploration & Discoveries |
Roc spuds 2nd Beibu Gulf appraisal well
 |
| The Nanhai IV. |
(4/28/2004 - OGI: Perth) Roc Oil reported today it has commenced drilling
the appraisal well Wei 12-8-3 offshore China in the Beibu Gulf Block 22/12.
The well, being drilled by the jackup Nanhai IV, follows on Roc's
disappointing Wei 12-7-1, which failed to encounter significant volumes of
hydrocarbons.
Roc said the Wei 12-8-3 is being drilled 800 meters north of the Wei
discovery well in waters approximately 33 meters in depth and that it is
expected to take about 14 days to drill, core, log, and fully evaluate,
including the acquisition of a 3D-VSP seismic survey, to a total depth of
approximately 1,311 meters, prior to plugging and abandonment, which will be
undertaken regardless of the results of the well. Then the rig is to be
released.
The Wei 12-8-2 structure is estimated to have a mean unrisked proved and
probable reserve potential of 20 million bbl of oil, subject to the results
of the appraisal drilling.
Unless there are operational problems which would cause the drilling to be
more prolonged than anticipated, ROC does not intend to release further
information about the well until a preliminary interpretation of the
wireline logs over the zone of interest is available, probably in about a
week's time, because, in this part of the Beibu Gulf, the reporting of oil
shows observed while drilling, prior to the interpretation of wireline logs,
is not particularly meaningful.
If the results of the Wei 12-8-3 well are encouraging, consideration will be
given to drilling a third well, Wei 12-3-4.
Roc is the operator for the Block 22/12 Joint Venture with 40% interest. Its
partners are Horizon Oil with 30% interest, Petsec Energy with 25%, and Oil
Australia Pty Limited, a wholly owned subsidiary of First Australian
Resources, with the remaining 5%. In the event of a commercial development
within Block 22/12, the interests held by the current joint venturers may
reduce on a pro-rata basis by up to 51%, assuming that the China National
Offshore Oil Corporation (CNOOC) exercises its right to participate up to a
51% equity level in the development.
Click here for earlier report.
OGI Homepage I Contact Us
|
