Roc Oil announce proved plus probable (2P) petroleum reserves increased by 71%
2P Reserves increase by 71% to 20.9 mmboe as at 1 January 2014
2C Resources increase to 48.8 mmboe
Best Estimated Prospective Risked Resource upgraded to 43.6 mmboe
Reserves & Resources (2P + 2C) life increases to ~28 years1
Roc Oil Company Limited (ASX: ROC) today announced that proved plus probable (2P) petroleum reserves have increased to 20.9 million barrels of oil equivalent (mmboe) as at 1 January 2014.
The 2P reserves increase of 8.7 mmboe (economic interest to ROC 50%) from 12.2 mmboe at 31 December 2013, represents a 71% increase and is attributable to the farm in by ROC to the D35, D21 and J4 PSC (Fields), located offshore Malaysia.
The Fields also provide access to 2C Contingent Resources of 39.8 mmboe (economic interest to ROC 50%).
The sale of BMG has reduced 2C resources by -14.6 mmboe, giving a net 2C position to ROC of 48.8 mmboe (economic interest). Best estimated Prospective Risked Resources have also increased from 31.6 mmboe to 43.6 mmboe with the inclusion of prospective volumes within the Fields