HDR hardman resources limited

HDR-ROC ann

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    Got this off the ROCOIL web site

    ROC OIL ANNOUNCEMENT

    5.1 Offshore Mauritania (ROC: 2.0% to 5.0%)

    The main focus of ROC’s current drilling activity is the Woodside-operated Chinguetti series of wells in Block 4 where two successful wells have been drilled since the programme re-started in late July 2002, the most recent of which was the oil and gas discovery at the Banda Prospect. There are two other wells to be drilled in this programme: Chinguetti-4-4, on the southern side of the Chinguetti structure and an exploration wildcat well on the Thon Prospect, 125 kms to the north (Attachments 1 and 5).
    Operational details relating to the Mauritanian wells are released to ASX on a regular basis by the Operator and other Australian-based co-venturers, including ROC. For a number of reasons, these releases generally do not address the broader geological aspects of the exploration plays being pursued by the Joint Venture. In this context, the following points may be relevant:
    · The four wells drilled offshore Mauritania during the last 16 months have yielded very encouraging results. All four wells have had a large exploration element and three of them were, in fact, pure exploration wells, two of which discovered potentially commercial hydrocarbons. All four wells encountered measurable hydrocarbons, proving separate gross hydrocarbon columns of 9 metres, 90 metres, 94 metres and 133 metres. These drilling results are quite remarkable for a previously undrilled, frontier area and they certainly highlight the petroleum potential of the region. However, more time and many more wells will be required before the total regional potential can be quantified reliably.

    · The results from the Chinguetti-4-2 well, the step-out exploration well on the northern side of the Chinguetti structure, are still being interpreted. Current interpretation suggests that the well drilled through two main channel sands within the previously reported 94 metre gross oil column. The majority of the net pay in the well, mainly in the lower of the two channel sequences, is interpreted as having excellent reservoir quality.
    · Separately, in the lower part of the Chinguetti-4-2 well, below the oil-bearing interval, additional channel sands with a combined net thickness in the order of 25 metres were encountered. These sands also have good to excellent reservoir qualities and, although water-wet in Chinguetti-4-2, they are expected to be oil-bearing higher up the structure.
    · The depositional environment of channel sands is such that individual sand packages will typically thicken or thin away from any single data point (Attachment 6). Because of this, the individual net pay intervals in such wells should always be viewed within the context of the overall extent of the channel sand sequence, which is largely reflected by the gross hydrocarbon column and the connectivity of the sands within that system (Attachment 6). When considering net reservoir thicknesses, it should also be borne in mind that sand bodies associated with salt domes, such as those encountered offshore Mauritania, may thicken down dip from the high points of the structure.
    · The three wells, which have encountered substantial gross hydrocarbon columns (90 metres to 133 metres) offshore Mauritania, collectively demonstrate net reservoir pay sands which represent between 25% and to 40% of the respective gross hydrocarbon columns.

    · In general terms, the thickness of the net reservoir sand in the Chinguetti-1 discovery well is the same order of magnitude as that in the Chinguetti-4-2 well, although the 3D seismic suggests that the sand thickens down dip from the discovery well.
    · Evaluation of the most recent well, the Chinguetti-4-3 exploration well, drilled on the Banda Prospect is continuing. Preliminary indications suggest that the percentage of gross hydrocarbon column which is represented as net reservoir sand in the well is at the high end of the 25% to 40% range quoted above.
    · There is no obvious oil-water contact in the Chinguetti-4-3 (Banda) well, where there is almost 60 metres of, essentially, non-reservoir rock between the highest known water and lowest known oil. Therefore, it is the extrapolation of pressure data obtained while logging which implies that the gross oil column in the well is in the order of 23 metres, as reported to ASX earlier this week. Until additional subsurface information is acquired, this represents the most accurate available estimate of the thickness of the oil leg at the Banda location, but this estimate may change as and when more information becomes available.

    ROC OIL ANNOUNCEMENT

    5.1 Offshore Mauritania (ROC: 2.0% to 5.0%)

    The main focus of ROC’s current drilling activity is the Woodside-operated Chinguetti series of wells in Block 4 where two successful wells have been drilled since the programme re-started in late July 2002, the most recent of which was the oil and gas discovery at the Banda Prospect. There are two other wells to be drilled in this programme: Chinguetti-4-4, on the southern side of the Chinguetti structure and an exploration wildcat well on the Thon Prospect, 125 kms to the north (Attachments 1 and 5).
    Operational details relating to the Mauritanian wells are released to ASX on a regular basis by the Operator and other Australian-based co-venturers, including ROC. For a number of reasons, these releases generally do not address the broader geological aspects of the exploration plays being pursued by the Joint Venture. In this context, the following points may be relevant:
    · The four wells drilled offshore Mauritania during the last 16 months have yielded very encouraging results. All four wells have had a large exploration element and three of them were, in fact, pure exploration wells, two of which discovered potentially commercial hydrocarbons. All four wells encountered measurable hydrocarbons, proving separate gross hydrocarbon columns of 9 metres, 90 metres, 94 metres and 133 metres. These drilling results are quite remarkable for a previously undrilled, frontier area and they certainly highlight the petroleum potential of the region. However, more time and many more wells will be required before the total regional potential can be quantified reliably.

    · The results from the Chinguetti-4-2 well, the step-out exploration well on the northern side of the Chinguetti structure, are still being interpreted. Current interpretation suggests that the well drilled through two main channel sands within the previously reported 94 metre gross oil column. The majority of the net pay in the well, mainly in the lower of the two channel sequences, is interpreted as having excellent reservoir quality.
    · Separately, in the lower part of the Chinguetti-4-2 well, below the oil-bearing interval, additional channel sands with a combined net thickness in the order of 25 metres were encountered. These sands also have good to excellent reservoir qualities and, although water-wet in Chinguetti-4-2, they are expected to be oil-bearing higher up the structure.
    · The depositional environment of channel sands is such that individual sand packages will typically thicken or thin away from any single data point (Attachment 6). Because of this, the individual net pay intervals in such wells should always be viewed within the context of the overall extent of the channel sand sequence, which is largely reflected by the gross hydrocarbon column and the connectivity of the sands within that system (Attachment 6). When considering net reservoir thicknesses, it should also be borne in mind that sand bodies associated with salt domes, such as those encountered offshore Mauritania, may thicken down dip from the high points of the structure.
    · The three wells, which have encountered substantial gross hydrocarbon columns (90 metres to 133 metres) offshore Mauritania, collectively demonstrate net reservoir pay sands which represent between 25% and to 40% of the respective gross hydrocarbon columns.

    · In general terms, the thickness of the net reservoir sand in the Chinguetti-1 discovery well is the same order of magnitude as that in the Chinguetti-4-2 well, although the 3D seismic suggests that the sand thickens down dip from the discovery well.
    · Evaluation of the most recent well, the Chinguetti-4-3 exploration well, drilled on the Banda Prospect is continuing. Preliminary indications suggest that the percentage of gross hydrocarbon column which is represented as net reservoir sand in the well is at the high end of the 25% to 40% range quoted above.
    · There is no obvious oil-water contact in the Chinguetti-4-3 (Banda) well, where there is almost 60 metres of, essentially, non-reservoir rock between the highest known water and lowest known oil. Therefore, it is the extrapolation of pressure data obtained while logging which implies that the gross oil column in the well is in the order of 23 metres, as reported to ASX earlier this week. Until additional subsurface information is acquired, this represents the most accurate available estimate of the thickness of the oil leg at the Banda location, but this estimate may change as and when more information becomes available.

    ROC OIL ANNOUNCEMENT

    5.1 Offshore Mauritania (ROC: 2.0% to 5.0%)

    The main focus of ROC’s current drilling activity is the Woodside-operated Chinguetti series of wells in Block 4 where two successful wells have been drilled since the programme re-started in late July 2002, the most recent of which was the oil and gas discovery at the Banda Prospect. There are two other wells to be drilled in this programme: Chinguetti-4-4, on the southern side of the Chinguetti structure and an exploration wildcat well on the Thon Prospect, 125 kms to the north (Attachments 1 and 5).
    Operational details relating to the Mauritanian wells are released to ASX on a regular basis by the Operator and other Australian-based co-venturers, including ROC. For a number of reasons, these releases generally do not address the broader geological aspects of the exploration plays being pursued by the Joint Venture. In this context, the following points may be relevant:
    · The four wells drilled offshore Mauritania during the last 16 months have yielded very encouraging results. All four wells have had a large exploration element and three of them were, in fact, pure exploration wells, two of which discovered potentially commercial hydrocarbons. All four wells encountered measurable hydrocarbons, proving separate gross hydrocarbon columns of 9 metres, 90 metres, 94 metres and 133 metres. These drilling results are quite remarkable for a previously undrilled, frontier area and they certainly highlight the petroleum potential of the region. However, more time and many more wells will be required before the total regional potential can be quantified reliably.

    · The results from the Chinguetti-4-2 well, the step-out exploration well on the northern side of the Chinguetti structure, are still being interpreted. Current interpretation suggests that the well drilled through two main channel sands within the previously reported 94 metre gross oil column. The majority of the net pay in the well, mainly in the lower of the two channel sequences, is interpreted as having excellent reservoir quality.
    · Separately, in the lower part of the Chinguetti-4-2 well, below the oil-bearing interval, additional channel sands with a combined net thickness in the order of 25 metres were encountered. These sands also have good to excellent reservoir qualities and, although water-wet in Chinguetti-4-2, they are expected to be oil-bearing higher up the structure.
    · The depositional environment of channel sands is such that individual sand packages will typically thicken or thin away from any single data point (Attachment 6). Because of this, the individual net pay intervals in such wells should always be viewed within the context of the overall extent of the channel sand sequence, which is largely reflected by the gross hydrocarbon column and the connectivity of the sands within that system (Attachment 6). When considering net reservoir thicknesses, it should also be borne in mind that sand bodies associated with salt domes, such as those encountered offshore Mauritania, may thicken down dip from the high points of the structure.
    · The three wells, which have encountered substantial gross hydrocarbon columns (90 metres to 133 metres) offshore Mauritania, collectively demonstrate net reservoir pay sands which represent between 25% and to 40% of the respective gross hydrocarbon columns.

    · In general terms, the thickness of the net reservoir sand in the Chinguetti-1 discovery well is the same order of magnitude as that in the Chinguetti-4-2 well, although the 3D seismic suggests that the sand thickens down dip from the discovery well.
    · Evaluation of the most recent well, the Chinguetti-4-3 exploration well, drilled on the Banda Prospect is continuing. Preliminary indications suggest that the percentage of gross hydrocarbon column which is represented as net reservoir sand in the well is at the high end of the 25% to 40% range quoted above.
    · There is no obvious oil-water contact in the Chinguetti-4-3 (Banda) well, where there is almost 60 metres of, essentially, non-reservoir rock between the highest known water and lowest known oil. Therefore, it is the extrapolation of pressure data obtained while logging which implies that the gross oil column in the well is in the order of 23 metres, as reported to ASX earlier this week. Until additional subsurface information is acquired, this represents the most accurate available estimate of the thickness of the oil leg at the Banda location, but this estimate may change as and when more information becomes available.

 
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