Roc Oil drops Frankland-1 well drilling due to bad weather, rig expiry
LONDON (AFX) - Roc Oil Co Ltd said it failed to start drilling the Frankland-1 exploration well in Australia due to bad weather and the expiry of a rig contract.
The rig was relocated to the site -- which is located on the Perth Basin in offshore western Australia -- on Aug 11.
'Due to adverse weather conditions it was not possible to commence drilling the Frankland-1 exploration well prior to the expiry of the drilling rig contract,' Roc said in a drilling update.
As a result, the rig was released and the offshore Perth Basin development and exploration drilling programme was concluded, it said.
Roc was the operator of the project with a 37.5 pct stake. Its partners include ARC Ltd, AWE Oil Pty Ltd, Wandoo Petroleum Pty Ltd and CIECO Exploration & Production Pty Ltd.
ROC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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