Roc Oil (WA) Pty Limited, a wholly owned subsidiary of ROC, advises that the Dunsborough-1 exploration well, WA-286-P, in the offshore Perth Basin, has been classified as a new field oil and gas discovery.
Since ROC’s last Stock Exchange Report on 1 June 2007, Dunsborough-1 has been drilled to a Total Depth of 1,755 metres Below Rotary Table and a comprehensive wireline electrical logging and fluid pressure and sampling programme has been completed. Preliminary interpretation suggests that the well has intersected a minimum 25 metre gross hydrocarbon column of which approximately 18 metres is net pay. The accumulation appears to have a small (<13 metres) gross gas column above an oil column containing light oil (approximately 40o API) in sands of poor to moderate reservoir quality. Pressure data indicate that the total gross hydrocarbon column associated with the Dunsborough structure may be up to 70 metres. Tentative volumetric estimates by ROC suggest that the structure could contain between 20 and 40 million barrels of oil in‑place.
I wouldn't write off Dunsborough yet.
Regards
SP
ROC Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
