Business Services Industry
Roc's China venture hits pay dirt.
Australasian Business Intelligence, May, 2006
Byline: Matt O'Sullivan
May 10, 2006 (The Age - ABIX via COMTEX) -- Roc Oil has three major partners in an offshore exploration venture around China's Beibu Gulf. The respective holdings are Roc Oil, 40 per cent; Horizon Energy, 30 per cent; Petsec Energy 25 per cent; and First Australian, five per cent. Roc Oil CEO, Dr John Doran, confirmed on 10 May 2006 that an exploration well has uncovered what appears to be good reservoir characteristics, but further analysis is required before commenting on the commercial ramifications of the Wei prospect. Meanwhile, CNOOC is able to acquire up to 51 per cent of the commercial development if plans proceed beyond preliminary oil well drilling.
Publication Date: 11 May 2006
ROC OIL COMPANY LIMITED -...
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