Mozambique Channel - Belo Profond (Madagascar) and Juan de Nova Maritime Profond (France)
HISTORY
- In April 2007, ROC together with the Office of National Mine and Strategic Industries ("OMNIS"), a government entity acting for and on behalf of the Republic of Madagascar, and US-based private company Marex MC, Inc signed a PSC for an exploration block Belo Profond in the Mozambique Channel, offshore Madagascar.
- The Belo Profond PSC became effective on Presidential Decree on 30 July 2007.
- In December 2008, the Government of France awarded an exploration permit to ROC and Marex. The Juan de Nova Maritime Profond permit is located in the French exclusive Economic Zone off the coast of Juan de Nova Island in the Mozambique Channel.
REGIONAL ACTIVITY
- The Mozambique Channel is a newly recognised, deep water petroleum play.
- There are substantial onshore tar sand and heavy oil deposits in Madagascar.
GEOLOGY
- The Mozambique Channel comprises several deep water frontier basins of Jurassic to Tertiary age.
- Onshore, there is a proven Permo-Triassic petroleum system.
PERMIT SIZE
- 13,770 sq km (Belo Profond)
- 52,990 sq km (Juan de Nova Maritime Profond)
JV PARTICIPANTS AND INITIAL INTERESTS
Roc Oil (Madagascar) Pty Ltd (Operator) 75%
Marex MC, Inc 25%
Note: ROC will increase its equity to 90% on completion of initial work programme.
ACTIVITY STATUS
- Planning is in progress for a potential 8,000km 2D seismic survey over both Blocks, which is anticipated to commence during 3Q 2010.
Belo Profond:
- The initial exploration phase is four years with a work programme commitment relating to acquisition and purchase of 2D seismic data.
- The Tropicbird aeromagnetic survey (43,102 line kilometres) was acquired in June-July 2008.
- An Environmental Permit for future seismic acquisition in the Block was granted in 2008.
Juan de Nova:
- The programme for the first three years involves the study of existing geological and geophysical data and 2D seismic acquisition.