EXPLORATION

Roc ready to roll in Angola

ANGOLAN operator Roc Oil plans to spud the West African nation's first onshore well in more than ...

Roc ready to roll in Angola

In a presentation to investors, the Sydney-based mid-cap said the potential six-well drilling program at its Cabinda South Block was targeting anywhere between 344 million and 1.446 billion (P50-P10) barrels of in-place oil.

Roc managing director John Doran has been bullish about the onshore exploration program.

"Any one of those wells could change the company – that's the extent of that potential," he told a Boardroomradio interview recently.

The campaign will start with the spudding of an exploration well on the Massambala prospect, estimated to contain 33-180MMbbl of in-place oil.

Following Massambala-1 well, the Explorer rig will move on to the Cevada-1 well site, which Roc said has “big upside” with 54-157MMbbl of potential.

Next in line is Miho-1, a directional well scheduled to start being drilled in either June or July following the arrival of the Simmons rig. The prospect is estimated to contain a potential 33-129MMbbl of in-place oil.

The next well, Trigo-1, in the program is another directional one, to be drilled from the same location as Miho-1. This well is targeting a potential 78-188MMbbl.

Following these two wells, the joint venture will move on to the Soja-1 exploration well, with 54-157MMbbl.

In addition, Roc plans to undertake a 200 square kilometre 3D seismic program in the middle of the year over the Lead 113C, to determine whether or not to drill a well here.

At the end of 2006, the Cabinda joint venture formally approved an estimated $US54 million ($A68.5 million) 2007 work program.

Roc has a 60% working interest, or 75% contributing interest, in the Cabinda South Block JV. Its partners are Force Petroleum (20% working interest and 25% contributing interested) and Angolan state company Sonangol P&P (20% interest, free carried).

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