Roc: Drilling Continues on Frankland-1

Roc Oil (WA) Pty Limited said that, as of 10 a.m. Australian Western Standard Time (AWST) on Tuesday, the Frankland-1 exploration well in WA-286-P offshore Perth Basin was drilling ahead at 2,090 meters.

Since the last drilling report (April 10), the well drilled to 1,720 meters where 244 mm casing was set prior to drilling on to the present depth.

Based on preliminary drill data and Measurement While Drilling information, it appears that the top of the reservoir objective was encountered some 50 meters high to prognosis at approximately 1,983 Meters Below Rotary Table (MBRT). Current tentative interpretation suggests that hydrocarbons are present in the main reservoir objective from 1,983 MBRT to 2,018 MBRT, over an internal of 35 meters.

Between 2,018 MBRT and current depth, the predominant lithology appears to be low net/ gross section with high background gas, but with possible further hydrocarbon saturation in thin sands. An additional zone of potential interest was encountered in the up hole section of the well between 1,338 MBRT and 1,348 MBRT.

The forward program is to drill to the proposed total depth of 2,210 MBRT and run a full suite of electrical logs to evaluate more precisely the nature and significance of the hydrocarbon indications encountered by the well.

Participating Interests in WA-286-P are:

* Roc Oil (WA) Pty Ltd (Operator), 37.5% * AWE Oil (Western Australia) Pty Ltd., 27.5% * Wandoo Petroleum Pty Ltd., 24.0% * ARC (Offshore PB) Limited, 6.0%

* CIECO Exploration and Production (Australia) Pty Ltd, 5.0%

Information from: www.rigzone.com