UPDATE 2-Roc Oil's Zhao Dong field on way to meet '09 plan

* Current gross production at 21,500 bopd from Zhao Dong

* Sees output at 35 pct of total '09 view

* Says Q1 production rates above '08 levels

* Cuts drilling program, budget to enhance funding

* Shares fall 8.3 pct (Recasts, adds details, share movement)

April 8 (Reuters) - Australia's Roc Oil Co Ltd (ROC.AX) ROC.L said it started production under its 2009 drilling plans at the Zhao Dong fields offshore China, with a total gross production of 21,500 barrels of oil per day (bopd), or about 35 percent of its 2009 target.

"Initial performance from the first production wells is positive and production rates for the first quarter of 2009 have improved on the 2008 performance," the oil and gas company said in a statement.

However, Roc Oil said it had reduced this year's drilling programme and budget from prior years to optimise funding and cash flow.

The company said with the restart of development drilling at Zhao Dong, the planned development drilling was forecast to maintain production at an average rate for the year, close to that of 18,050 bopd in 2008.