BCP Spuds Third Balai Cluster Well (Malaysia)

ROC advises that BC Petroleum Sdn Bhd (“BCP”), the company incorporated to operate and manage the Balai Cluster Risk Service Contract (“RSC”) in Malaysia, commenced drilling the Spaoh-2 well at 1930 hours (Malaysian time) on 31 January 2013.

The Spaoh-2 well is the third well in the pre-development phase multi-well appraisal drilling programme in the Balai Cluster. At 0600hours (Malaysian time) on 1 February 2013 the well was drilling ahead at a measured depth of approximately 326 metres.

Spaoh-2 is located in the Spaoh field, offshore East Malaysia, and has a planned target total depth of approximately 2,710 metres subsea.

The Balai Cluster RSC consists of four fields: Balai, Bentara, West Acis and Spaoh. The pre-development phase commenced early 2012 and is expected to be completed by Q1/Q2 2013. On successful completion of the pre-development phase and agreement on the economic viability of the fields, BCP will submit a field development plan and progress to development of the fields.

Shareholders of BCP are ROC (48%), Dialog Group (32%) and PETRONAS Carigali (20%).

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Press Release, February 1, 2013