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  1. Mangrove

    1,747 posts.
    Next well drilling with cautious optimism. Anything can happen in this game.Cliff head looks good.

    Good luck guys.

    Regards M.

    --------------------------------------------------------------------------------

    ROC OIL COMPANY LIMITED 2003-02-19 ASX-SIGNAL-G

    HOMEX - Sydney

    +++++++++++++++++++++++++
    KEY POINT

    * On 19 February 2003, the ENSCO 53 jack-up drilling rig started
    drilling the Vindara-1 exploration well in WA-286-P, in the northern
    part of the offshore Perth Basin.

    Roc Oil (WA) Pty Limited ("ROC"), Operator for and on behalf of the
    WA-286-P Joint Venture, advises that, at 0700 hours Western Standard
    Time ("WST"), on 18 February 2003, the ENSCO 53 jack-up drilling rig
    was released from the Mentelle-1 exploration well location in the
    northern part of the offshore Perth Basin after plugging and
    abandoning that well as dry hole with sub-commercial oil shows.

    At 0630 hours WST the rig commenced drilling the Vindara-1
    exploration well in WA-286-P in the northern part of the offshore
    Perth Basin, approximately 6.5 kilometres southeast of the Cliff Head
    Oil Field (Attachment 1) The well, which will be drilled as a
    vertical well to a Total Depth of 1,843 metres below Rotary Table, is
    the fourth in a multi-well drilling programme being conducted on a
    back-to-back basis in WA-286-P and the adjacent TP/16. Regardless
    of drilling results, Vindara-1 will be plugged and abandoned without
    testing for reasons relating to operational cost efficiencies.

    Subsequent to Vindara-1 the WA-286-P Joint Venture will drill another
    appraisal well in the Cliff Head Oil Field, Cliff Head-4. The full
    extent of the current drilling programme will be determined after
    the results of these next two wells are known.

    ROC anticipates that its next ASX Release regarding Vindara-1 will be
    issued early next week after it has intersected the top of the
    targeted reservoir section.

    Commenting on Vindara-1, ROC's Chief Executive Officer, Dr John
    Doran, stated that:

    "The fact that Vindara-1 was not included in the original minimum
    three well drilling programme can be taken as evidence that the
    prospect is generally regarded as being riskier than the other two
    exploration wells in that programme: Twin Lions-1 and Mentelle-1.
    However, the fact that both Vindara-1 and Cliff Head-4 have been
    added to the current drilling programme highlights the fact that
    there is an increased level of confidence that the Cliff Head Oil
    Field is a strong candidate for development following the encouraging
    results from the production test at CH-3-ch 1."

    The WA-286-P Joint Venture comprises:
    Equity

    Roc Oil (WA) Pty Limited (Operator) 30.0%
    AWE Oil (Western Australia) Pty Ltd 27.5%
    Wandoo Petroleum Pty Ltd 25.0%
    ARC Energy NL 7.5%
    Voyager Energy Limited 5.0%
    Westranch Holdings Pty Ltd (a subsidiary
    of Norwest Energy NL) 5.0%

    J Doran
    CHIEF EXECUTIVE OFFICER


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