Roc Oil Company Limited
14 April 2005
14 April 2005
ROC OIL COMPANY LIMITED ('ROC')
STOCK EXCHANGE RELEASE
ACTIVITY UPDATE - ANGOLA
KEY POINT
• ROC is progressing its Angolan activities on several fronts including
the establishment of a senior executive team in Luanda and preparations for
a substantial onshore seismic survey.
1. Senior Executive Appointments
ROC is pleased to announce the following senior executive appointments:
• Mr Antonio Vieira has been appointed President of Roc Oil (Cabinda)
Company. This is the wholly owned subsidiary through which ROC currently
owns the majority of its interest in the Cabinda South Block, onshore
Angola. Mr Vieira, an engineer by training with qualifications from Luanda,
Lisbon and Texas A & M University, has been with ROC for five years, mainly
as the Company's Representative in Africa. Sydney-based Mr Vieira speaks
several languages including Portuguese and will spend a significant amount
of time in Luanda and Cabinda.
• Dr Ken Seymour has been appointed General Manager-Angola. With more than 25
years experience in the international oil industry, Dr Seymour started his
career with BP and subsequently spent 19 years with the former Ranger Oil
Limited, now CNR International, primarily in Angola. Since he first started
working in Angola in 1995, Dr Seymour has held a variety of senior executive
positions in that country including Drilling/Country Manager, Operations
Manager and General Manager. Dr Seymour is fluent in Portuguese and will be
based in Luanda.
2. Seismic Survey
As operator of the Cabinda South Joint Venture, ROC is currently in final
discussions with regard to a contract to acquire 165sqkm of 3-D and 500km of 2-D
seismic, onshore Cabinda. The imminent seismic survey will be the first phase of
a two phase seismic programme the second part of which will be undertaken in
2006. This forward exploration plan is consistent with the Company's previously
announced activity schedule which envisages first drilling in late 2006 or 2007.
The seismic survey, which will be the first on-the-ground oil exploration
activity to occur onshore Angola for more than 30 years, will be a landmark
event for ROC. The survey is designed to detail numerous prospects and leads
which have been identified from the pre-1972 seismic which shows a multiplicity
of structuring (eg Attachments 1 - 4*).
All existing wells in the Cabinda South Block were drilled prior to 1972 and
were primarily located on a combination of poor quality, single fold seismic
data, surface geology and gravity anomalies. Despite this sparse exploration
framework, a number of the wells drilled in the Cabinda South Block encountered
significant oil and gas shows and, in some cases, flowed and/or recovered oil
and gas to surface.
Further details of the geology and perceived prospectivity of the Cabinda South
Block are contained in previous public announcements by ROC and can be found on
the Company's website.
3. Portfolio Management
ROC continues to progress its previously announced strategy of farming out a
minority portion of its equity in the Cabinda South Block.
4. Marburg Virus
Considered advice from various sources within Angola, suggests that the recent
outbreak of the Marburg Virus, which has received widespread media coverage in
various parts of the world, is not expected to impact on the Company's
operations in Cabinda. However, for all the obvious Health, Safety and
Environmental reasons ROC will continue to monitor the situation very closely.
*Attachments attached to the copy of this release on ROC's website
(http://www.rocoil.com.au/Pages/ASX_Releases/2005_Releases/April-2005.html)
Bruce Clement For further information please contact:
Chief Operating Officer Dr John Doran on
Tel: +61-2-8356-2000
Fax: +61-2-9380-2635
Email: jdoran@rocoil.com.au
Or visit ROC's website:
www.rocoil.com.au
Dr Kevin Hird
General Manager Business Development
Tel: +44 (0)207 586 7935
Fax: +44 (0)207 722 3919
Email: khird@rocoil.com.au
Nick Lambert
Bell Pottinger Corporate & Financial
Tel: +44 (0)207 861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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