Roc Oil Company Limited Presentation to THE GOOD OIL CONFERENCE Perth, September 2007 Slide 1 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Disclaimer Important Information The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions investors should rely on their own examination of ROC and consult with their own legal, tax, business and/or financial advisers in connection with any acquisition of securities. The information contain in this presentation has been prepared in good faith by ROC. However, no representation or warranty expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. To the maximum extent permitted by law, ROC, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use or reliance on anything contained in or omitted from this presentation. Certain information in this presentation refers to the intentions of ROC, but these are not but these are intended to be forecasts, forward looking statements or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and other factors that may cause ROC's actual results, performance or achievements to differ from those referred to in this presentation. Accordingly, ROC, its directors, officers, employees and agents do not give any assurance or guarantee that the occurrence of the events referred to in this presentation will actually occur as contemplated. Slide 2 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
ROC’s Growing Global Footprint Business Overview Global Asset Base: Highlights • ROC has built its business through a combination of: UK CHINA - Organic exploration & development as well as acquisitions; 1 producing field 2 producing fields 1 field in development including US$260 million purchase of Apache’s China assets 1 field in development & 1 field in pre-development - Strong financial and technical discipline • 200 experienced core technical, financial and operational staff AFRICA • Experienced operator with a proven ability to explore & produce 1 producing field & several in challenging environments undeveloped fields. • Company transforming potential with onshore Angola prospects New discovery in Angola & leads Current exploration drilling AUSTRALIA • 5 discoveries from 8 exploration wells in 3 continents since 2Q 2006. in Angola 1 producing field • Strong & sustainable cash flows from producing assets 2 potential commercial discoveries Growing and Diverse Production Profile 2P Reserves 30 June 2007 ROC’s remaining 2P Reserves as at 30 June 2007 totals 25.7 MMBOE. Note: Reserves are based on reported reserves as at 31 December 2006 less 1H 07 production. Slide 3 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
1H 2007 Operational Highlights - Total 1.6 MMBOE Oil & Gas production achieved / 8,686 BOEPD PRODUCTION - Enoch Oil & Gas Field first oil on 31 May - Cliff Head Oil Field achieved production target of 3.0 MMBBLS during first year of production DEVELOPMENT - Work commenced on the Zhao Dong C & D Oil Field Incremental Development & the C4 Oil Field Development Projects - Zhao Dong Development drilling commenced during April - Enoch Oil & Gas Field Development completed & commissioned - Blane Oil Field Development on track for first oil during 3Q 2007 EXPLORATION - 2 potentially commercial discoveries from 3 wells in the Perth Basin & APPRAISAL - Commencement of onshore Angolan drilling campaign with the Massambala discovery - Acquisition of Block Belo Profond, Mozambique Channel, Madagascar expanding potential high-impact exploration - Preparation for 200 sq km 3D seismic survey, onshore Angola HSE - Strong safety performance with no LTIs during 1H 2007 - During 1H07, ROC reported no major environmental incidents Slide 4 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Production – Net to ROC • Production 1.57 MMBOE (8,686 BOEPD) is down 6% from 2H 06 (1.68 MMBOE) • Enoch Oil & Gas Field commenced production on 31 May 2007, totalling 0.3 MMBOE gross production (ROC 35,714 BOE). • Zhao Dong gross production was 3.6 MMBBL. (ROC 881,411 BBL) at an average of 19,900 BOPD. • Cliff Head gross production was 1.5 MMBBL (ROC 554,591 BBL) at an average of 8,171 BOPD. • Chinguetti gross production was 3.0 MMBBL (ROC 99,221 BBL) at an average of 16,867 BOPD. Slide 5 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
ROC’s Net Production 1Q 2006 to 3Q 2007 & 4Q 2008 Forecast Slide 6 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Assets Overview UK (1) CHINA NORTH SEA 24.5% & 40% (3) 12% (2) and 12.5% (2) AUSTRALIA Generally 37.5% MAURITANIA 2% - 5% EQUATORIAL GUINEA 18.75% (4) ANGOLA Operated / Managed 60% (5) Non-operated (1) Excludes onshore UK (2) Post unitisation MADAGASCAR (3) Pre 51% Government Back-In for Block 22/12 75% (6) (4) 15% Free carried through next exploration well (5) 75% contributing interest for exploration (6) 75% working interest Slide 7 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Cliff Head Oil Field Development – offshore Perth Basin (37.5% & Operator) Asset Update, offshore Perth Basin, Western Australia Rig & Platform Rig & Platform 11km offshore 11km offshore 1H 2007 RESULTS • Gross Production: 1.5 MMBBL / 8,171 BOPD • Working Interest Production: 554,591 BBL / 3,064 BOPD • Achieved the forecast 3.0 MMBBL in first year of production • LTI: Nil 2H 2007 FOCUS • Continue good production performance • Maintain LTI-free record • Monitor and manage trucking issues • Continue to work with local communities and governments Slide 8 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Total Cliff Head Oil Production (BOPD) 1 May 2006 - 1 September 2007 Slide 9 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Cliff Head Coil Tubing Workovers Slide 10 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Offshore Northern Perth Basin Three discoveries Dunsborough MAINLY OIL Gross Column 25m Net Pay 17m Area 2.9 sq km Vertical Relief 90m + Tilted Horst Block Filled to spill - Estimated Oil In Place 20 – 40 MMBBL Frankland GAS Gross Column 35m Net Pay 30m Area 4.7 sq km Vertical Relief 130m + Faulted Anticline Filled to spill - Estimated Gas in Place 60 – 90 BCF Slide 11 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
ROC’s Interests in China - Offshore Zhao Dong Block, Bohai Bay; & Block 22/12, Beibu Gulf ROC 24.5% & Operator ROC 40% * & Operator * Subject to up to 51% Government participation in developments Slide 12 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Zhao Dong Block (ROC 24.5% & Operator) Asset Update, Bohai Bay, offshore China 1H 2007 RESULTS • Gross Production: 3.6 MMBBL / 19,900 BOPD • Working Interest Production: 881,411 BBL / 4,870 BOPD • Work commenced on the C & D Fields Incremental Development Plan and the C4 Development • Drilling activities commenced in April 2007 2H 2007 FOCUS • Drill 9 Production and 6 Water Injection wells in 2007 • Complete engineering for planned expansion of the existing C & D Field production facilities and commence construction activities • Progress C4 development Slide 13 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Block 22/12 – Wei 6-12-South & Wei 6-12 Pre-Development (ROC 40% * & Operator) - Asset Update, Beibu Gulf Oil Discoveries, offshore China 1H 2007 PROGRESS • Completed feasibility study & initial reserves assessment on Wei 6-12S & Wei 6-12 • Mapping of Prospects & Leads for exploration drilling 2H 2007 FOCUS • Progress & finalise development engineering studies • Move towards Final Investment Decision • Finalise exploration drilling rig contract • 4Q planned commencement of a 4 well exploration programme * Subject to up to 51% Government participation in developments Slide 14 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Enoch Oil & Gas Field (ROC 12%) Asset Update, UK North Sea 1H 2007 RESULTS • Completed construction and commissioning of facilities, with first production 31 May 2007. • Gross Production: 300,000 BOE • Working Interest Production: 35,714 BOE Slide 15 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Blane Oil Field (ROC 12.5%) Asset Update – North Sea 1H 2007 PROGRESS • Ula topside modifications and tie-in of all pipelines and flow lines 2H 2007 FOCUS • Complete hook-up and commissioning work on the Ula platform • First oil planned for 3Q 07 • Targeting initial production of 17,000 BOEPD (2,125 BOEPD Net to ROC) • Drill water injection well Slide 16 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
Chinguetti Oil Field Field (ROC 3.25%) Asset Update – offshore Mauritania 1H 2007 RESULTS • Gross Production: 3.0 MMBBL / 16,867 BOPD • Working Interest Production: 99,221 BBL / 548 BOPD • CH-18 drilled and completed 2H 2007 FOCUS • Selection of Chinguetti Phase 2B infill development well locations • Processing and interpreting 4D seismic • Evaluation of Tiof 3D seismic data Slide 17 df-bc - GOOD OIL CONFERENCE-Perth_Sep07_BC FINAL
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