Roc Oil Company Limited
13 September 2007
13 September 2007
ROC OIL COMPANY LIMITED ('ROC')
STOCK EXCHANGE RELEASE
ACTIVITY UPDATE: PRODUCTION NORTH SEA -
FIRST OIL FLOWS FROM THE BLANE OIL FIELD
ROC's wholly owned subsidiary, Roc Oil (GB) Limited, is pleased to advise that
on 12 September 2007, the Blane Oil Field started production. Gross production
rates are expected to quickly rise to approximately 17,000 BOEPD (ROC: 2,125
BOEPD), almost entirely oil. Blane is tied back to the BP-operated Ula Oil
Field, 34 kilometres to the northeast in Norway, from where the oil will be
transported via a sub-sea pipeline to the Teeside Oil Terminal in the UK.
The Blane Oil Field, operated by Talisman Energy (UK) Limited, is located in UK
Block 30/3a and Norwegian Block 1/2, about 260 kilometres east of Aberdeen.
Because the field straddles the UK and Norwegian international boundary it has
been unitised: 82% (UK) and 18% (Norway). As previously reported the field's
gross proved and probable (2P) reserves are estimated to be 30.4 MMBOE (ROC:3.8
MMBOE), 97% oil.
Commenting on the Blane start-up, ROC's Chief Executive Officer, John Doran
stated that:
'Blane further diversifies ROC's production base which now comprises oil
production, from six fields in four countries. Coming along behind Blane during
the next year or two are field developments offshore China and appraisal
projects relating to recent discoveries offshore Western Australia and onshore
Angola.'
Unitised Interests in the Blane Oil Field are:
Roc Oil (GB) Limited.......................................................12.5%
Talisman Energy (UK) Limited...............................................25.0%
Talisman Energy Norge AS...................................................18.0%
MOC Exploration (U.K.) Limited (a subsidiary of Nippon Oil Corporation)....14.0%
ENI UK Limited.............................................................13.9%
ENI ULX Limited.............................................................4.1%
Bow Valley Petroleum (UK) Limited..........................................12.5%
In accordance with ASX and AIM Rules, the information in this Release has been
reviewed and approved by Dr John Doran, Chief Executive Officer, Roc Oil Company
Limited, BSc (Hons) Geology, MSc and PhD. Dr Doran, who is a member of the
Society of Petroleum Engineers, has more than 30 years relevant experience
within the industry and consents to the information in the form and context in
which it appears.
Damian Fisher
General Manager
External Affairs & Investor Relations
For further information please contact:
Dr John Doran
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)20 7495 5707/+61 (0)2 8356 2000
Mob: +44 (0)7751 3671 49/+61 (0)417 261 727
Email: khird@rocoil.com.au
Michael Shaw
Oriel Securities Limited (Nominated Adviser)
Tel: +44 (0)20 7710 7600
Bobby Morse
Buchanan Communications
Tel: + 44 (0)20 7466 5000
Fax: + 44 (0)20 7466 5001
E-Mail: bobbym@buchanan.uk.com
Mob: +44 (0)7802 875 227
This information is provided by RNS
The company news service from the London Stock Exchange
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