Roc Oil discover oil in Beibu Gulf Block 22/12

Roc Oil discover oil in Beibu Gulf Block 22/12

SYDNEY, Australia -- Roc Oil (China) Company, a wholly-owned subsidiary of Roc Oil, has finished drilling the first of two exploration wells in the Beibu Gulf Block 22/12. The WZ12-10-1 well has discovered oil pay in the Jiaowei (T42) formation, while no oil pay was interpreted in the Weizhou formation.

The WZ12-10-1 well was drilled to a total depth of 1,406 m MD/1,373 m TVDSS, where the Basement granite has been intersected. The well discovered oil in the very top of the Jiaowei (T42) formation over an interval of 5.5 m, with a high porosity net oil pay of 4.2 m. A sidetrack (WZ12-10-1Sa) was then drilled with 340 m eastern step out to a total depth of 1,265 m MD/1,105 m TVDSS to prove up the updip T42 reservoir and confirmed oil in the very top of the Jiaowei (T42) formation with a thicker net oil pay of 5.5 m.

The well is located 4.7 km northeast of the existing WZ12-8W platform and approximately 2.7 km west of the WZ12-8E discovery wells. A wireline evaluation logging program (NMR, MDT Pressuring and Sampling) has been run, which confirmed the oil pay in T42 reservoir. The well was plugged and abandoned on Sept. 27, 2014.

This discovery will be evaluated on how best to integrate it into the Beibu Project. Rig HYSY 935 will be moved to the WZ12-10-2 exploration location to drill the second and final well in this program.

"This oil discovery adds potentially valuable incremental oil to the Beibu project. The location of the oil discovery allows ROC and the JV to evaluate alternative development scenarios, particularly integration with the Beibu WZ12-8E oil discovery," CEO Alan Linn said.