Roc Oil Company Limited said it is to plug and abandon its Moondah-1 well offshore Perth Basin after drilling failed to encounter any significant hydrocarbons.
With Roc as operator of the well, ARC Energy Ltd has a 45 pct interest, AWE Oil (Western Australia) Pty Ltd has 25 pct and Westranch Holdings Pty Ltd has 10 pct.
Also, in an update on the first quarter, the company announced today that during the quarter, ROC production, which had been close to zero in February 2006, went from 1,700 BOPD to 4,300 BOPD and by quarter-end was set to rise to more than 12,000 BOPD during the third quarter of 2006.