The semi-sub Nanhai IV, which was due to have been received by ROC by the end of March, has been delayed at its current operation due to down hole difficulties at its current location.

According to ROC CEO, Dr John Doran, “The delay is frustrating for all concerned. However, the operator currently utilising the Nanhai IV has been very communicative and courteous with regard to keeping ROC informed of the situation and we are absolutely convinced that they are as anxious to release the rig to us as we are to receive it from them.”

“However, until that happens, all ROC can do is to keep its shareholders informed as to how the schedule evolves,” added Doran. Nanhai IV should be made available to ROC some time in April.

The partners are Roc Oil, Horizon Oil, First Australian Resources and Petsec Energy.