Australia and New Zealand Operations Summary
ROC first entered the Australian oil industry in 2000 via a farm-in to WA-286-P, which contains the Cliff Head Oil Field. Subsequent farm-ins, exploration permit awards and acquisitions followed from 2002 to 2007. ROC currently operates four exploration permits and one production licence offshore Western Australia and has non-operating interests in one offshore exploration permit, an onshore exploration permit and an onshore production licence.
ROC’s first well in Australia, drilled in December 2001, discovered the Cliff Head Oil Field, which commenced production in May 2006.
In September 2008, ROC acquired a 53.1% stake in Anzon Australia Limited ("AZA") through a Scheme of Arrangement Merger with Anzon Energy Limited. An off-market takeover for the remaining shares in AZA was announced on 16 June 2008 and completed in 4Q 2008. AZA was delisted from the ASX on 26 November 2008.
AZA's Australian assets comprised exploration and production licences in the Gippsland Basin, Bass Strait, including an operating interest in the Basker-Manta-Gummy Oil and Gas Fields.
AZA's New Zealand assets comprised one exploration licence in the Canterbury Basin, New Zealand.
In 4Q 2009, ROC and its study group partners submitted an application for 232km2 of acreage in the offshore Taranaki Basin of New Zealand, containing the Kaheru prospect. If granted, ROC will operate the licence with 50% interest. The result of the application process is expected in 1Q 2010.
