exploration update oil oil oil

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Further to its Stock Exchange Release on 21 November 2006 regarding the Dana-operated Aigrette-1 exploration well in Block 7, ROC advises that the well was drilled to a depth of 4,803 metres and has encountered hydrocarbon-bearing sandstones within the Cretaceous target zone.
In order to continue exploration of the Cretaceous section, the well is being deepened by approximately 200 metres from the planned Total Depth of 4,925 metres with a revised Total Depth of 5,127 metres.
Preliminary interpretation of the drilling data and the intermediate wireline logging programme indicates the presence of hydrocarbon bearing sandstones. A gross hydrocarbon column of about 20 metres has been encountered and confirmed in fluid samples to be oil. The composition of the samples will not be finally determined until they have been fully analysed.
Although, this is a technically encouraging result, until all the subsurface data have been collected and analysed it is not possible to make a definitive comment about the commercial potential of Aigrette-1.
The current operation as at 0600 hours (local time) on 27 November, was continuing to drill 8½ inch hole at a depth of 5,052 metres.
Aigrette-1 is located in a water depth of 1,358 metres approximately 43 km north- northwest of the 2003 Pelican-1 gas discovery and 193 km north-northwest of the Chinguetti Oil Field.