Sydney, Jan 29, 2008 AEST (ABN Newswire) - ROC Oil (ASX: ROC) Announce advice by the operator, ROC Oil (China) Company, that since the last Stock Exchange Release on 23 January 2008, the Wei 6-12W-1 exploration well in Block 22/12 in the Beibu Gulf, offshore China, has drilled to a Total Depth of 2,333 mBRT and wireline logging has been completed. Drilling and log data indicate that Wei 6-12W-1 well has not encountered any hydrocarbons and the well has been plugged and abandoned.
Later this week, the Premium "Murmanskaya" jack-up drilling rig will commence drilling Wei 6-12E-1, the second well in the three well drilling programme, which will test a structural-stratigraphic prospect 1.7 kilometres east of the Wei 6-12S-1 oil discovery.
Participating Interests in the Block 22/12 Joint Venture are:
-------------------------------------- Roc Oil (China) Company 40% (Operator) Horizon Oil Limited 30% Petsec Petroleum 25% Oil Australia Pty Ltd* 5% --------------------------------------The above interests are subject to Government participation in developments of up to 51%* A subsidiary of First Australian Resources Limited
Schwing #2 Well, South Grosse Tete, Iberville Parish, South Louisiana
Performing cement job prior to liner run - FAR (0-14,500 feet 5%)(>14,500 feet 17.7%)
Since the last report the well has been slowly deepened to 12,196 feet and electric logs run over shows in the main Upper Bol Mex sand. Logs indicate this sand to be wet.
Provided downhole conditions allow, the forward plan is to conduct a cement squeeze then set a 7 5/8" liner and resume drilling in 6 1/2" hole towards the primary target TD at 14,500'.
As reported earlier, 11 feet of gas pay has been identified in the Upper Marg Tex interval and a probable 5 feet of gas pay in the Lower Marg Tex interval of the Schwing #2 well.
The project is being operated by Spartan Operating Company, Inc. FAR's interest is subject to a back-in of 25% after cost recovery is achieved on a full project basis. Other participants include ASX listed Amadeus Energy Limited (AMU).
For information on FAR's drilling activities visit;
http://www.far.com.au
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