Highlights
• Apache and JX Nippon commit to drill the Roc-1 well in WA-437-P
• Apache also exercises option to 40% equity in WA-436-P and WA-438-P
The Roc prospect is a follow up exploration well to the major new oil discovery made at the Phoenix South-1 well.
In addition to the above, Apache has exercised its option to acquire a 40% interest in WA-436-P and WA-438-P. Apache will assume operatorship of these permits and Carnarvon retains a 30% interest.
Managing Director, Mr Adrian Cook said "Following the recent and exciting oil discovery in the Phoenix South-1 well, I am delighted that Apache and JX Nippon have committed to drilling the Roc prospect and to join ourselves and Finder Exploration as we look for more exploration success in the area. At this stage I expect the Roc well will be drilled in 2015 with an Apache contracted Jack-Up drilling rig.
Apache is a well-renowned global exploration and production company and we look forward to working with them as the operator of all four of the Permits we now share."
