Rocoil: 4 Mio. Barrels PRODUKTION - Eine WIRKLICH gute Oilcompany. - 500 Beiträge pro Seite

[Panem]

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Quartalsbericht:


(ABN 32 075 965 856)
REPORT TO SHAREHOLDERS
Activities for the Quarter Ended 31 December 2006

CEO COMMENTS
ROC's quarterly sales volume hit the one million barrel mark for the first time. This represents
reasonable progress compared to 4Q 2005 when the sales volume was about 3,000 barrels.
Other quarterly records include $66 million sales revenue and 0.85 MMBO production. Gross
oil production from the ROC-operated Cliff Head Oil Field, offshore Western Australia, hit the
two million barrel mark, just eight months after production start-up.

In the above context, ROC's upside share price potential during 2007 could be viewed as being
tied to oil price movements. To ensure that the share price is not simply a captive of the oil
price, the Company's 2007 drilling and new venture programmes have been designed on a
scale that would allow the share price to disconnect from oil price trends in the event of
successful exploration/appraisal drilling and/or new asset acquisition. If the Company achieves
a measure of success on these fronts then, regardless of whether oil prices stabilise, weaken or
strengthen, the share price would have the potential to jump ahead of the oil price trend line.

This sequential growth strategy means that the big growth year which has just gone will be
followed immediately by another with equal growth potential.
KEY ACTIVITIES
1. REVENUE
&
PRODUCTION
·
Total working interest oil production of 847, 087 BBLS (9,207 BOPD); up 3% compared to
825,039 BBLS (8,968 BOPD) in the previous Quarter
·
Total sales revenue of $66.1 million; up 4% compared to $63.4 million in the previous
Quarter.
·
Total sales volume of 1,048,282 BBLS; up 33% compared to 788,749 BBLS in the
previous Quarter.

1.1 Cliff Head Oil Field, WA-31-L, Offshore Western Australia (ROC: 37.5% & Operator)

Gross oil production rates of approximately 8,700 BOPD (ROC WI: 3,261 BOPD) for the Quarter
with a high of 15,500 BOPD. Intermittent production constraints related to separate issues
including: trucking capacity; electrical malfunction at the offshore platform; and minor
mechanical downtime at the onshore plant. On 31 December, the field produced its two
millionth barrel of oil, eight months after production start-up
Roc Oil Company Limited Report for the Quarter ended 31 December 2006

Page 2
1.2 Zhao Dong C & D Fields, Bohai Bay, Offshore China (ROC: 24.5% & Operator)

Following the imposition of a 22,000 BOPD production constraint announced in October 2006,
gross oil production was approximately 21,100 BOPD (ROC WI: 5,180 BOPD) with minor
downtime experienced due to winter weather conditions. See Section 6: Post Quarter Events

1.3 Chinguetti Oil and Gas Field, PSC Area B, Offshore Mauritania (ROC: 3.25%)

Gross oil production averaged approximately 23,400 BOPD (ROC WI: 760 BOPD). On 1
November, ROC announced a downgrade of initial gross 2P reserves to 52.4 MMB0. On 16
November, the Operator, Woodside, issued an interim gross 2P reserve estimate of 53.0
MMBO. The CH-18 production infill well commenced drilling on 29 December. See Section 6:
Post Quarter Events

2. DEVELOPMENT

2.1 Blane Oil Field, North Sea (ROC: 12.5%)

Development drilling and completion of the second production well was accomplished on 13
October. Pipe-lay work for the flow line to the Ula platform commenced in early October and
was completed by November. The Operator advises that first oil production is still expected
during 2Q 2007. For internal planning purposes ROC is assuming first oil late in that period.

2.2
Enoch Oil and Gas Field, North Sea (ROC: 12.0%)

Production testing of the single development well was completed 21 October with the
well recording several flow rates on various choke sizes generally in line with expectations.
Pipeline post-lay work was also completed during the Quarter. The Operator advises that first
oil production is now expected during 2Q 2007. For internal planning purposes ROC is
assuming first oil early in that period.

2.3 Zhao Dong C4 Oil Field, Bohai Bay, Offshore China (ROC: 11.58% unitised &
Operator)

On 31 December, PetroChina advised ROC that it had been notified by the National
Development and Reform Commission of the Chinese Government's approval to proceed with
the C4 Development Plan. The next step is the approval of the Development Budget by the
Joint Management Committee.

3.
EXPLORATION AND APPRAISAL

3.1 Perth Basin, Offshore Western Australia (ROC: 7.5% - 50% & Generally Operator)

Activity focused on contracting a suitable rig for 1H 2007 to drill the Frankland-1 and
Perseverance-1 exploration wells in WA-286-P and WA-325-P respectively.

3.2 Wei 6-12 South Oil Field, Block 22/12, Beibu Gulf, Offshore China (ROC: 40% &
Operator)

Appraisal studies of the Wei 6-12 South and Wei 6-12 oil fields continued during the Quarter.
See Section 6: Post Quarter Events

3.3 Mauritania (ROC: 2.0 ­ 5.0%)

On 8 December the Dana-operated Aigrette-1 exploration well in Block 7 (ROC: 4.95%) was
drilled to a Total Depth of 5,152 metres and plugged and abandoned after encountering
Roc Oil Company Limited Report for the Quarter ended 31 December 2006

Page 3
hydrocarbon-bearing sandstones within the Cretaceous target zone. Whilst the result is
technically encouraging, the discovery is likely to be sub-commercial. The well completed the
2006 Mauritanian exploration drilling programme.

3.4 Equatorial Guinea (ROC: 18.75% & Technical Manager)

Activity focused on finalising contract negotiations for the Aban Abraham deep water drilling
vessel, currently being upgraded in Singapore, with a view to drilling the Aleta Prospect in 2H
2007.

3.5 Angola (ROC: 60% & Operator)

A two-year drilling rig contract was signed with Simmons Drilling Overseas Limited for the
Simmons 80 rig to commence drilling in the onshore Cabinda South Block by May 2007. The
rig is currently being upgraded in Dubai.

Upgrade work commenced in the UK on the ROC-owned Explorer rig with a view to shipping it
to Cabinda during 1Q 2007 for start-up of drilling during April/May 2007.

On 11 December, the Cabinda South Joint Venture formally approved the 2007 Work
Programme and Budget which includes three firm exploration wells. The total budget
approximates to US$54 million of which approximately US$43 million relates to drilling activity.

The 217 km 2D seismic programme was completed in the Cabinda South Block, onshore
Angola, marking the end of an 18-month seismic acquisition phase which acquired a total of 416
sq km of 3D and 722 km of 2D seismic. This work effort represents in excess of 75,000 man-
days on ground in Cabinda.

4. CORPORATE

On 2 November, ROC announced a fully underwritten 3 for 8 Renounceable Rights Issue, at
$2.70 per share, which raised approximately $219 million. The purpose of the Rights Issue was
to reduce debt incurred in relation to the acquisition of the Zhao Dong asset and to provide
greater financial flexibility for the Company as it continues to build shareholder value.
Approximately 91% of eligible shareholders subscribed to the issue.

The final number of shares allotted on 8 December under the terms of the Rights Issue was
81,226,213, taking ROC's total issued capital to 297,822,206 fully paid ordinary shares.

As at 31 December, ROC had approximately 18,450 shareholders, up 44% compared to 1 July
2006

5. FINANCIAL

Approximately $200 million of the funds raised in the Rights Issue was used to reduce corporate
debt so that, at Quarter-end ROC had approximately $60.6 million in cash and $173.7 million of
debt.

5.1 Production
4Q 2006
BBLS
3Q 2006
BBLS
Change
%
Australia ­ Cliff Head
300,030
321,721
(7)
China ­ Zhao Dong C & D Fields
476,514
410,225
16
Mauritania ­ Chinguetti
69,895
92,687
(25)
Other 648
406
60%
T
OTAL
P
RODUCTION
847,087
825,039
3%
Roc Oil Company Limited Report for the Quarter ended 31 December 2006

Page 4
Production quoted is ROC's working interest share of total production. ROC's net entitlement production for the period was 790,344 BBLS (3Q:
775,064 bbls)
5.2 Sales
4Q 2006
3Q 2006
BBLS $'000 BBLS $'000
Australia ­ Cliff Head
300,982
21,401
320,604
28,789
China ­ Zhao Dong C & D Fields
620,191
36,334
405,036
29,334
Mauritania ­ Chinguetti
126,483
8,366
62,740
5,268
Other 626
45
369
34
T
OTAL
S
ALES
1,048,282
66,146
788,749
63,425
ROC's net entitlement crude stock position decreased by 258,000 BBLS during the period and
at the end of 4Q 2006 ROC was in a net overlift position of 102,000 BBLS.

5.3 Expenditure
4Q 2006
$'000
3Q 2006
$'000
Exploration
Angola 10,511
14,882
China 11
4,306
Mauritania 3,885
4,643
Australia 182
1,863
UK 58
694
Equatorial Guinea
55
51
Other 949
558
Total Exploration
15,651
26,997
Development
Cliff Head
736 9,926
Zhao Dong
(531)
4,155
Blane 16,772
13,723
Enoch 5,841
5,239
Chinguetti 1,664
545
Total Development
24,482
33,588
T
OTAL
E
XPLORATION
&
D
EVELOPMENT
40,133 60,585
5.4 Hedging

No additional oil price hedging was undertaken in the current Quarter. The following
hedges were settled during the period for which ROC received revenue of $3 million.
BBLS
Weighted
Average
Brent Price
USD/BBL
BBLS
Weighted
Average
Brent Price
USD/BBL
TOTAL
BBLS
Oil Price Swaps
141,000
49.58
300,000
72.47
441,000
Oil Price Puts
60,000 50.00 140,000 67.00 200,000

6. POST
QUARTER
EVENTS

6.1 On 9 January, ROC was advised that oil production at the Zhao Dong C & D oil fields,
Bohai Bay, offshore China could be increased subject to an overall fluid rate constraint.
As a result daily production has risen from the curtailed level of 22,000 BOPD to
approximately 24,000 BOPD, subject to normal winter weather constraints.

6.2 As of 14 January, the CH-18 production well at the Chinguetti Oil Field, offshore
Mauritania, had been drilled to a Total Depth of approximately 2,883 metres after
Roc Oil Company Limited Report for the Quarter ended 31 December 2006

Page 5
encountering a gross oil pay interval of approximately 213 metres and a net oil pay of 35
metres which is in line with pre-drill expectations. The well is scheduled for completion in
mid-February.

6.3 On 30 January, ROC announced that it had completed an Appraisal Report relating to the
Wei 6-12 South and Wei 6-12 oil fields in Block 22/12 in the Beibu Gulf, offshore China
(ROC 40%
1
& Operator). The most likely oil in-place for the two fields is 56 MMBO.
When the results of the Report, which focused only on the two known fields, are combined
with the current understanding of the two adjacent, undrilled prospects, the most likely oil
in-place for the four features in the Wei South Complex is approximately 83 MMBOIP.
The upside oil in-place for these four features is 108 MMBOIP.
The most likely recoverable oil estimate for the four features is 29 MMBO, of which 19
MMBO relates to the two known fields. The upside potential of the four features is 37
MMBO of which 27 MMBO relates to the two known fields. On this basis, the Joint
Venture is moving towards Front End Engineering and Design ("FEED") which is
scheduled to begin in 2Q 2007 and a Final Investment Decision which is expected in 2H
2007.

6.4 Formal consent was received relating to the relinquishment of the WA-349-P permit in the
Perth Basin, effective 5 January 2007.


7. FURTHER
INFORMATION

For further information please contact ROC's Chief Executive Officer, Dr John Doran on:

Phone:
[phone]
Email:
[e-mail]
Facsimile: [phone]
Web Site:
www.rocoil.com.au
Address: Level 14, 1 Market Street, Sydney, NSW 2000, Australia.
DEFINITIONS
BBL(S)
means barrel(s)
BCF
means billion cubic feet
BOE
means barrels of oil equivalent
BOPD
means barrels of oil per day
BOEPD
means barrels of oil equivalent per day
BCPD
means barrels of condensate per day
GWC
means gas-water contact
MCF
means thousand cubic feet
m BRT
means metres below rotary table
MMSCF
means million standard cubic feet
MMSCF/D
means million standard cubic feet per day
MMBO
means million barrels of oil
MMBBLS means
million
barrels
MMBOE
means million barrels of oil equivalent
MMBOIP
means million barrels of oil in place
NGL
means natural gas liquids
OWC
means oil-water contact
PSC
means Production Sharing Contract
Quarter
means the period 1 October 2006 to 31 December 2006
ROC
means Roc Oil Company Limited and includes, where the context requires, its subsidiaries
SCF
means standard cubic feet
TCF
means trillion cubic feet
US$
means US dollars
$
means Australian dollars
WI
means working interest entitlemen

[LaPlue]

Mein Geheimtip des Monats.....
31 JUL 07 2Q 2007 ASX QUARTERLY UPDATE
31 AUG 07 ASX (4D) HALF YEARLY REPORT

-gute konstante Ölförderung
-hohe Anzahl an Projekten

[Petronius]

SALVE!

Roc Oil hat in Angola einen Treffer gelandet. Die Aktie steigt um 24%.
Hier der Artikel:
http://oilgascoal.com/index.php?option=com_content&task=view…

Petronius

[Petronius]

SALVE!

Roc Oil kauft sich in eine Lizenz in Autralien ein:
http://oilgascoal.com/index.php?option=com_content&task=view…

Petronius

[Petronius]

SALVE!

Roc oil gibt einen Update zur Produktion:
http://oilgascoal.com/index.php?option=com_content&task=view…

Petronius

[Petronius]

SALVE!

Roc Oil gibt Bohrungen in Angola auf:
http://oilgascoal.com/index.php?option=com_content&task=view…

Petronius

[HansiDurchblick]

Vor dem Hintergrund möglicher Militäraktionen der Türkei im Norden des Irak stieg der Preis für ein Barrel (159 l) Rohöl der Sorte WTI (Western Texas Intermediate) erstmals auf das Niveau von 87 US-$ an. Im Gleichtakt zum US-Öl kletterte der Preis der Nordseeölsorte Brent Crude in London ebenso auf ein neues Rekordniveau von knapp 83 US-$. Einige Analysten renommierter Bankhäuser rechnen nun mit einem Run auf 90 US-$ (Brent Crude) bzw. die Marke von 100 US-$ (WTI). Werden die Renommierten im Gegensatz zu ihren Immobilienkreditabteilungen ein glücklicheres Händchen mit ihrer Prognose haben?....

http://worldofinvestment.com/column/read/349/

Ganz interessant, könnt ja mal schauen.