roc oil makes progress in sept qtr

ROC Oil makes progress in Sept qtr, on target for 2009 [ROC]


Sydney - Thursday - October 22: (RWE Aust Business News) - ROC
Oil (ASX:ROC) has made substantial progress during the September quarter
in a number of areas of the business.
Production is on target for 10,000 BOPD to 11,000 BOPD for the
full year.
Production for the quarter was down 7 per cent largely due to a
42pc reduction in BMG production as a result of planned well shut-ins for
drilling and workover operations and the planned production shut-in for
inspection and maintenance programs on the Crystal Ocean FPSO and Basker
Spirit tanker.
Offsetting this was a significant improvement in production
performance from Zhao Dong where the benefits from the 2009 drilling
program and increased production capacity from the newly installed
facilities resulted in a 14pc increase in production compared with the
previous quarter.
The company said 2009 continues to be a year of consolidation,
with the near term focus being delivery of the 2009 operating budget.
ROC remains on target to meet its 2009 budget forecasts.
With the Brent oil price in excess of $US70/bbl in October and
with ROC's strengthened financial position, the board and management
remains confident that the company is well positioned for a period of
growth over the next three years.