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Offshore Mauritania Drilling Update - Chinguetti-18 Development Well

Source: www.gulfoilandgas.com 1/23/2007, Location: Africa

Further to its Stock Exchange Release on 9 January 2006 regarding the Woodside-operated Chinguetti-18 development well in PSC B, ROC advises that as of 14 January 2007, the well has been drilled to a Total Depth of approximately 2,883 metres measured depth, and is scheduled for completion in mid-February.

Well results are in line with expectations, with an approximate 213 metre gross oil column (35 metres net) in true vertical depth (TVD) terms, in good quality reservoir sands which appear well placed to access pressure support from the Chinguetti-8 (sidetrack 1) water injection well.

Chinguetti-18 is located within the southern part of the Chinguetti Oil and Gas Field in a water depth of 819 metres, approximately 80 km southwest of the Mauritanian capital, Nouakchott.

ROC will issue a further announcement on completion of the Chinguetti-18 development well.

Participating interests are:

Roc Oil group companies 3.24984%
Woodside group companies (Operator) 47.38448%
Tullow group companies 19.00800%
Societe Mauritanienne des Hydrocarbures 12.00000%
BG group companies 10.23440%
Premier group companies 8.12328%

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