Additional Fosun Reps Appointed on ROC Board
The Board of Roc Oil Company Limited (ROC) has today announced the appointment of Dr Yuanlin JIANG, Mr Yao XU and Mr Qunbin WANG as Non-Executive Directors of ROC, as nominees of Transcendent Resources Limited (Fosun), a wholly-owned subsidiary of Fosun International Limited effective 10 November 2014. As at 7 November 2014, total acceptances of the Fosun Offer have increased to 67.021% of ROC’s issued share capital.
ROC's Largest Shareholder Supports FOSUN Offer
Transcendent Resources Limited (Fosun), a wholly-owned subsidiary of Fosun International Limited and Roc Oil Company Limited, are pleased to announce that Fosun has received acceptance instructions from Allan Gray Australia Pty Ltd (18.9%) in respect of the off-market takeover bid by Fosun to acquire all of the ordinary shares in ROC (Offer). As at 1 October 2014, the total acceptances (Offer and Facility acceptances) in ROC have increased to ~29.3% of the issued share capital, reflecting a strong, positive response to the Offer.
Roc Oil Starts Drilling on Block 09/05 & FARM-OUT OF 40%
Roc Oil (Bohai) Company, a wholly owned subsidiary of Roc Oil Company Limited (ASX:ROC), as operator of Block 09/05, Bohai Bay, Offshore China advises that drilling has commenced on the first exploration well QK11-1-1. Drilling from CPOE Rig 33 commenced at 11:00 China Standard Time on 14 August 2014. Total depth planned for this well is ~4,000 metres TVD (~4,500 metres measured depth). The 335 square kilometres block is located approximately 15 kilometres north of ROC’s existing Zhao Dong production and appraisal blocks in water depths of 5-15 metres. ROC was awarded 100% interest in the exploration block by China National Offshore Oil Corporation (CNOOC) in May 2012 and signed a Petroleum Contract shortly thereafter.
