Roc Oil has withdrawn from PEP 52181 in the Taranaki Basin offshore New Zealand. The withdrawal is subject to normal industry terms and conditions, including the receipt of nec- essary government approvals, said Roc, adding that it does not carry any value for exploration block PEP 52181 on the balance sheet. Roc's CEO Alan Linn said: "As previously reported, Roc has been working to farm-down its 50% interest in PEP 52181 to provide a more bal- anced equity position prior to entering into a com- mitment to drill an exploration well on the Kaheru prospect.
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