Drilling Activity Update: Castanha-2 Appraisal Well
30 JUL 10
Lacula Oil Company Limited, a wholly owned subsidiary of ROC, advises that the Castanha-2 appraisal well started drilling at 2100 hours (Angola time) on 28 July. At 0600 hours on 29 July (Angola time) the well was drilling ahead at a measured depth of 43 metres.
Castanha-2 is located in the Cabinda Onshore South Block, Angola and is testing the Castanha-1 oil discovery. The planned target depth of the well is 2,305 metres.
Production testing on the Castanha-1 discovery was undertaken in 1Q 2010 and recovered 33º API to surface from the pre-salt Chela Formation, with a maximum flow rate of 2,275 BOPD through a 5/8 inch choke.
Consistent with ROC’s established practice regarding Angolan drilling activity, the Company will only issue public statements at the beginning and end of each drilling operation. Castanha-2 drilling results are expected to be reported in September.
Participating Interests in the Cabinda Onshore South Block are:
Pluspetrol Angola Corporation (Operator)...............45%
Lacula Oil Company Limited (ROC).........................10%
Force Petroleum de Angola, S.A................................20%
Sonangol P&P...............................................................20%
Cuba Petroleo.................................................................5%
For further information see: Stock Exchange Release 30.07.10