06 Financial Results Summary

Roc Oil Company Limited
28 February 2007

28 February 2007

                         ROC OIL COMPANY LIMITED ('ROC')
                             STOCK EXCHANGE RELEASE

                         2006 FINANCIAL RESULTS SUMMARY

Today, ROC released its ASX Preliminary Final Report (Appendix 4E), Directors'
Report and Annual Financial Report for the Financial Year ended 31 December
2006. The key highlights are:

OPERATIONS

  • Record production of 2 MMBO from Cliff Head, Chinguetti and the Zhao
    Dong C and D oil fields offshore China, compared to 13,635 barrels of oil
    produced in 2005.

  • Transformed and diversified production base with the acquisition of a
    24.5% operated interest in the Zhao Dong Block, Bohai Bay, offshore China,
    and first oil production from the Cliff Head Oil Field, offshore Western
    Australia, and the Chinguetti Oil Field, offshore Mauritania.

  • Exploration and appraisal expenditure of $78.5 million resulting in the
    significant Wei 6-12 South oil discovery offshore China and the
    identification of encouraging prospects in Angola.

  • Development expenditure of $124.2 million reflected four new offshore
    fields under development in three countries.

FINANCIALS

  • Trading profit of $37.9 million (2005: $0.3 million profit) and a net
    loss after income tax of $59.6 million after exploration expensed of $68.7
    million, compared to a profit of $45.6 million in 2005 which included an
    $81.3 million profit from the sale of the Saltfleetby Gas Field in the UK.

  • Record oil sales revenue of $151.5 million (2005: $0.9 million).

  • Year end debt of $173.8 million directly attributed to the acquisition
    of the oil producing Zhao Dong Block, offshore China.

  • Year end cash position $60.6 million compared to $66.4 million at
    end-2005.

  • Successful Placement in January 2006 and Rights Issue in November 2006
    positively impacted the Company's financial base raising a total of $295.2
    million gross.

Commenting on the 2006 financial results, ROC's Chief Executive Officer, John
Doran, stated that:

'In 2006, ROC delivered on some of the rhetoric. The results defy statistical
comparison with the previous year. A new platform of reserves and revenue has
been constructed. The challenge is to keep adding value through a combination of
patient field development, aggressive exploration, and in special circumstances
the opportunistic acquisition of assets within our core region. Given the nature
of ROC's portfolio there is every reason to believe that the challenge will be
met.'

John Doran                              For further information please contact:
Chief Executive Officer                                        Mr Bruce Clement
                                                        Chief Operating Officer
                                                           Tel: [phone]
                                                           Fax: [phone]
                                                  Email: [e-mail]
                                      Or visit ROC's website: www.rocoil.com.au
                                                                                
                                                                   Dr Kevin Hird
                                            General Manager Business Development
                                                       Tel:  [phone]
                                                       Fax:  [phone]
                                                     Email:  [e-mail]
                                                                                
                                                                    Nick Lambert
                                            Bell Pottinger Corporate & Financial
                                                       Tel:  [phone]
                                                                                


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