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SP this morning hit high of $3.46

Currently ROC $3.25 +$0.47 +16.91% high $3.46 and low $3.25 1,672,961 shares $5,667,352 @ 30-Aug 10:16:48

ASX ann today
30/08/2007 Exploration Update- Massambala Oil Discovery, Onshore Angola
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00753850

Roc Oil (Cabinda) Company, a wholly owned subsidiary of ROC, is pleased to advise that the Massambala-1CH2 sidetrack hole has reached a prognosed total depth of 491 metres and wireline and coring programmes have been completed. The sidetrack hole was drilled to evaluate a shallow oil zone intersected by Massambala-1, ROC’s first exploration well in Angola.

On 27 August 2007, Massambala-1CH2 was suspended for possible re-entry in order to determine the commercial merit of the discovery. Laboratory analyses have been initiated with regard to the fluid and core samples obtained from the sidetrack well and results are expected during the next several weeks. In the meantime, a preliminary interpretation of currently available data provides the following insights:
The oil is mobile, not residual.
Visually, the oil appears to be heavy and viscous, but definitive comment must await laboratory analysis. In any event, the oil seems to bear comparison to many crudes that are currently being routinely produced in other parts of the world via standard heavy oil industry production techniques.
Although there appears to be a 1 to 2 metre oil sand higher in the section, the sidetrack confirmed that the main zone of interest is a 16 metre gross oil column with approximately 15 metres (94%) of net oil saturated sand with good to excellent reservoir qualities and an associated wireline log anomaly.

At the depth of the shallow oil accumulation, approximately 400 metres, the Massambala feature is currently mapped on 3D seismic data as a gentle four-way dip structure with a vertical relief in the order of 16 metres at the well which is located a few metres below the structure’s high point. As currently mapped, the area of structural closure is approximately 26 sq km/6,400 acres and based on an apparent oil-water contact identified in the well, it would seem that the shallow Massambala structure is filled to spill.

It is far too early to comment specifically on potential recoverable reserves at Massambala but volumetric calculations, based on the most recent 3D seismic mapping and available well data, suggest the in-place oil resource potential could be in the order of 170 MMBO. In a more generic sense and subject to specific field details, heavy oil recovery techniques can recover a minimum of 10% of the oil in-place, often about 20% and sometimes considerably more.

Participating Interests in the Cabinda South Block are:
ROC Group Companies (Operator) 60%
Force Petroleum Limited 20%
Sonangol P&P S.A. 20%

<blockquote data-quote="bigdog" data-source="post: 197127" data-attributes="member: 4374">SP this morning hit high of $3.46Currently ROC&nbsp; &nbsp; &nbsp;&nbsp; $3.25&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; +$0.47&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; +16.91%&nbsp; &nbsp; &nbsp;&nbsp; high $3.46&nbsp; and low&nbsp; &nbsp;&nbsp; $3.25&nbsp; &nbsp; &nbsp;&nbsp; 1,672,961 shares&nbsp; &nbsp; &nbsp;&nbsp; $5,667,352&nbsp; @&nbsp; &nbsp;&nbsp; 30-Aug 10:16:48ASX ann today30/08/2007&nbsp; &nbsp; Exploration Update- Massambala Oil Discovery, Onshore Angola<a href="http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00753850" target="_blank">http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00753850</a>Roc Oil (Cabinda) Company, a wholly owned subsidiary of ROC, is pleased to advise that the Massambala-1CH2 sidetrack hole has reached a prognosed total depth of 491 metres and wireline and coring programmes have been completed. The sidetrack hole was drilled to evaluate a shallow oil zone intersected by Massambala-1, ROC’s first exploration well in Angola.On 27 August 2007, Massambala-1CH2 was suspended for possible re-entry in order to determine the commercial merit of the discovery. Laboratory analyses have been initiated with regard to the fluid and core samples obtained from the sidetrack well and results are expected during the next several weeks. In the meantime, a preliminary interpretation of currently available data provides the following insights:<ul>
<li data-xf-list-type="ul">The oil is mobile, not residual.</li>
<li data-xf-list-type="ul">Visually, the oil appears to be heavy and viscous, but definitive comment must await laboratory analysis. In any event, the oil seems to bear comparison to many crudes that are currently being routinely produced in other parts of the world via standard heavy oil industry production techniques.</li>
<li data-xf-list-type="ul">Although there appears to be a 1 to 2 metre oil sand higher in the section, the sidetrack confirmed that the main zone of interest is a 16 metre gross oil column with approximately 15 metres (94%) of net oil saturated sand with good to excellent reservoir qualities and an associated wireline log anomaly.</li>
</ul>At the depth of the shallow oil accumulation, approximately 400 metres, the Massambala feature is currently mapped on 3D seismic data as a gentle four-way dip structure with a vertical relief in the order of 16 metres at the well which is located a few metres below the structure’s high point. As currently mapped, the area of structural closure is approximately 26 sq km/6,400 acres and based on an apparent oil-water contact identified in the well, it would seem that the shallow Massambala structure is filled to spill.It is far too early to comment specifically on potential recoverable reserves at Massambala but volumetric calculations, based on the most recent 3D seismic mapping and available well data, suggest the in-place oil resource potential could be in the order of 170 MMBO. In a more generic sense and subject to specific field details, heavy oil recovery techniques can recover a minimum of 10% of the oil in-place, often about 20% and sometimes considerably more.Participating Interests in the Cabinda South Block are:ROC Group Companies (Operator) 60%Force Petroleum Limited 20%Sonangol P&amp;P S.A. 20%</blockquote>

[QUOTE="bigdog, post: 197127, member: 4374"] SP this morning hit high of $3.46 Currently ROC $3.25 +$0.47 +16.91% high $3.46 and low $3.25 1,672,961 shares $5,667,352 @ 30-Aug 10:16:48 ASX ann today 30/08/2007 Exploration Update- Massambala Oil Discovery, Onshore Angola [url]http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00753850[/url] Roc Oil (Cabinda) Company, a wholly owned subsidiary of ROC, is pleased to advise that the Massambala-1CH2 sidetrack hole has reached a prognosed total depth of 491 metres and wireline and coring programmes have been completed. The sidetrack hole was drilled to evaluate a shallow oil zone intersected by Massambala-1, ROC’s first exploration well in Angola. On 27 August 2007, Massambala-1CH2 was suspended for possible re-entry in order to determine the commercial merit of the discovery. Laboratory analyses have been initiated with regard to the fluid and core samples obtained from the sidetrack well and results are expected during the next several weeks. In the meantime, a preliminary interpretation of currently available data provides the following insights: [LIST] [*]The oil is mobile, not residual. [*]Visually, the oil appears to be heavy and viscous, but definitive comment must await laboratory analysis. In any event, the oil seems to bear comparison to many crudes that are currently being routinely produced in other parts of the world via standard heavy oil industry production techniques. [*]Although there appears to be a 1 to 2 metre oil sand higher in the section, the sidetrack confirmed that the main zone of interest is a 16 metre gross oil column with approximately 15 metres (94%) of net oil saturated sand with good to excellent reservoir qualities and an associated wireline log anomaly. [/LIST] At the depth of the shallow oil accumulation, approximately 400 metres, the Massambala feature is currently mapped on 3D seismic data as a gentle four-way dip structure with a vertical relief in the order of 16 metres at the well which is located a few metres below the structure’s high point. As currently mapped, the area of structural closure is approximately 26 sq km/6,400 acres and based on an apparent oil-water contact identified in the well, it would seem that the shallow Massambala structure is filled to spill. It is far too early to comment specifically on potential recoverable reserves at Massambala but volumetric calculations, based on the most recent 3D seismic mapping and available well data, suggest the in-place oil resource potential could be in the order of 170 MMBO. In a more generic sense and subject to specific field details, heavy oil recovery techniques can recover a minimum of 10% of the oil in-place, often about 20% and sometimes considerably more. Participating Interests in the Cabinda South Block are: ROC Group Companies (Operator) 60% Force Petroleum Limited 20% Sonangol P&P S.A. 20% [/QUOTE]

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