ROC oil output triples as Cliff Head goes online 31-July-06 by AAP
View all of today's news on our homepage Roc Oil Company Ltd's production more than tripled during the second quarter after its Cliff Head project in Australia went online.
Production jumped to 250,107 barrels during the three months to June, from 71,649 barrels in the March quarter, underpinning sales of $16.75 million for the second quarter.
ROC also has a 3.25 per cent stake in Woodside's Chinguetti oil field, which posted production at the lower end of expectations for the quarter.
ROC expects daily oil production to rise from around 4,300 barrels to 12,000 during the September quarter, helped by its $US260 million acquisition of a 24.5 per cent stake in the Zhao Dong Block offshore project in Bohai Bay in China.
Cliff Head production totalled 126,409 barrels in the June quarter.
ROC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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