Roc Oil advised that at 0600 hours the Tuatara-1 exploration well was drilling ahead at a measured depth of 982 meters. Intermittent gas shows have been encountered in the well over the drilled interval between 780 and 900 meters. The significance of these shows will be fully assessed by wireline logs after drilling to total depth. No oil shows have been reported to date.

Tuatara-1 is located in PEP38524, Offshore Taranaki, New Zealand.

Tuatara-1 is targeting approximately 80 MMBBL of potential recoverable oil reserves in a typical Taranaki Basin-style trap similar to the Maari oil field, which is located 80 kilometers to the northwest. The well is located in 50 meters of water, around 15 kilometers offshore to the north of the South Island. Tuatara-1 will be drilled to a proposed total depth of 2,025 meters.

Participating interests in PEP38524 are:

•AWE New Zealand Pty Limited (Operator)..............60% •Roc Oil (Tasman) Pty Limited....................................20% •Kea Oil and Gas Limited............................................10% •Carnarvon (NZ) Pty Limited........................................10%

Tags: ROC Oil