dunsborough looking good

Roc Oil (WA) Pty Limited, a wholly owned subsidiary of ROC, advises that, since its last Stock Exchange Release on 26 March 2008, the Dunsborough-2 appraisal well in WA-286-P, in the offshore Perth Basin, Western Australia, has recovered a second core to surface. Both 24 metre cores cut during the last three days had 100% recovery and good oil shows throughout the 48.6 metre total cored interval from 1,515 to 1,563.5 mBRT.
As at 0600 hours on 28 March 2008 (local time), the current operation at Dunsborough-2 was recovering Core No 3 in an effort to define the oil water contact.
At top reservoir level Dunsborough-2 is 47 metres down structure from Dunsborough -1, which is 1.6 kilometres to the north and from which light (39o API) oil was recovered. The top of the cored interval in Dunsborough-2 is two metres below the top of the reservoir which was encountered 25 metres high to prognosis.
Dunsborough-2 is scheduled to reach the proposed Total Depth of approximately 1,680 mBRT during the next several days.
Subject to completing the coring programme, drilling to Total Depth and running a full suite of logs, including wireline sampling, this latest well appears to point to a potentially significant gross hydrocarbon column both at the Dunsborough-2 well and for the field as a whole.
Participating Interests in the WA-286-P Joint Venture are:
Roc Oil (WA) Pty Limited (Operator)............................................37.5%
ARC Energy (Offshore PB) Limited..................................................30.0%
AWE Oil (Western Australia) Pty Ltd................................................27.5%
CIECO Energy Australia Pty Ltd........................................................5.0%
Commenting on the Dunsborough-2 appraisal well, ROC’s Chief Executive Officer, John Doran stated that:
"Subject to all the usual – and very valid – caveats about obtaining further data between now and the end of the well, the Dunsborough-2 results to date appear to be quite encouraging, particularly given that it is about 50 metres down structure and 1.6 kilometres south of the discovery well.
While it is way too early to offer any comment regarding reserves, a comparison of the basic dimensions of the Dunsborough and Cliff Head structures might help provide shareholders and potential investors with a rough perspective should Dunsborough-2 prove to have producible oil. Cliff Head, about 50 km south of Dunsborough, had original recoverable proved and probable oil reserves of almost 16 MMBO; covers an area of about 6 sq km and has a gross oil column of approximately 60 metres. Dunsborough, as currently understood, covers around 5 sq km and has the capacity for a 90 metre gross oil column."