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Drilling Update: Banda East Appraisal Well, Offshore Mauritania

Source: www.gulfoilandgas.com 11/12/2008, Location: Africa

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Roc Oil (Mauritania) Company, a wholly owned subsidiary of ROC, advises that as at midnight (local time) on 10 November 2008, the Banda East-1B appraisal well, has reached a total depth of 2,716 mBRT, and acquisition of wire line data has been completed.

The preliminary results of the wire line logging, Modular Dynamic Tester (MDT) pressure testing and sampling indicate that Banda East-1B intersected an 86 meter gross gas column, with 22 meters (26%) net gas pay and a 19 meters gross oil column, with 7 meters net oil pay (37%).

The fluid contacts were in line with the pre-drill expectations.

The Banda Oil and Gas Field is in approximately 300 meters of water depth and spans PSC Area A and PSC Area B.

The forward plan is to run the final casing and prepare for gas deliverability testing. There is no plan to test the oil leg at this time.

Participating Interests in the PSC Area A Joint Venture are:

ROC Group Companies 4.155%
PC Mauritania I Pty Ltd (Operator) 35.000%
PC Mauritania II B.V 18.846%
Tullow Oil plc 24.300%
Mauritania Holdings B.V 13.084%
Fusion Mauritania A B.V 3.000%
FP Mauritania A B.V 1.615%

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