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Roc Oil discounts “minor” China find


Published Mar 11, 2008
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Aussie outfit Roc Oil Co. has found only “minor residual oil shows” at its Wei 6-12E-1A exploration well offshore China, the company disclosed Tuesday. The news came just as JP Morgan took up an 11-percent stake in the company.

The Wei well cut cores as part of an “extensive” look at rock pierced by the well.

In a statement, Roc said the nearby Wei South oilfield development will continue as planned.

Roc operates Wei with a 40 percent stake and is joined by Horizon Oil Ltd with 30 percent plus Petsec Petroleum and Oil Australia.

Tags: ROC Oil




   

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