Roc Oil now operator of Australia's Perth Basin Block TP/15
(4/24/2002 - Oil & Gas International : Perth) The TP/15 Joint Venture, which is exploring and developing Australia's Perth Basin Block TP/15, has unanimously agreed that Roc Oil be appointed operator of the Joint Venture, effective 1 May 2002. TP/15 is adjacent to the Roc-operated Block WA-286-P, which contains the Cliff Head Field. According to Roc's announcement today, this selection of the company to serve as operator is designed to optimize the benefits of an economy of scale for operations in this part of the offshore Perth Basin ahead of a multi-well exploration and appraisal drilling program due to commence on or about 1 January 2003. The TP/15 Joint Venture is comprised of previous operator AWE (25%), Hardman Resources (30%), Roc Oil (20%), Bounty Oil Limited (10%), Westranch Holdings (10%), and ARC Energy (5%).
ROC Price at posting:
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