In late October 2005, ROC commenced a 4 plus 4 month drilling contract with Ensco Australia Pty Ltd when it received the jack-up drilling rig, Ensco 67. Following the drilling of the first well under this contract, Flying Foam-1, in the northern part of the offshore Perth Basin, the rig is relocating to the Cliff Head Oil Field where it is expected to arrive in the next 3 to 6 days.
The Ensco 67 will play a key role in the development of the Cliff Head Oil Field. During the next 4 months the rig will drill and complete 6 production wells and 2 water injection wells and also install the production jacket and topside facilities. After the Ensco 67’s work at Cliff Head has been completed the rig will drill 3 to 5 exploration wells in the area around the Cliff Head Oil Field.
Importantly, the rig contract is structured so that ROC has an option to extend it for a second 4 month tranche beyond the initial 4 month firm contract period. Therefore, as the Ensco 67 completes its presently designated work programme at Cliff Head, ROC will have the right, but not the obligation, to use the rig on other ROC-operated wells offshore Western Australia, including any farmin opportunities which may arise.