(i) Slide 8 of ROC's 27-08-09 half Year presentation gives a...

(i) Slide 8 of ROC's 27-08-09 half Year presentation gives a breakup of its 2P and 3P Reserves as at 30 June 2009.

2P total = 20.1 MMBOE

3P total = 19.2 MMBOE


(ii) ROC's 4th quarter Report released 28-01-10 gives a breakup of production in the six months to 31/12/09.

Production total = 1.575 MMBOE


Worth listening to the Broadcast on the ROC website.

Basically saying that new reserve figure calculated as follows:

Currently producing 6,000 BOPD;
Expected to produce about 5,000 PODP in 2010;
Operating costs for project are A$250,000 to A$300,000 per day;
The economic breakeven for the project is about 3,000 BOPD;
The output from the project is expected to fall to this level by 2012 withour further development or intervention;

Consequently, the revised reserves are the amount that are expected to be produced in that time;

As far a s further development or workovers they are still to be assessed and evaluated;

Worth listening to. Others may pick up further points.

http://www.brr.com.au/event/63932

Regards

SP