Drilling Report

Roc Oil Company Limited
15 May 2007


15 May 2007





                         ROC OIL COMPANY LIMITED ('ROC')

                             STOCK EXCHANGE RELEASE


                            Drilling Activity Update:
           Offshore Perth Basin Exploration Drilling - Perseverance-1


Roc Oil (WA) Pty Limited advises that as of 0600 hours on 15 May 2007 Australian
Western Standard Time ('AWST'), the Perseverance-1 exploration well in WA-325-P,
offshore Perth Basin, was drilled to 1,190 metres and preparing to install
intermediate casing string.

Since the last drilling report (11 May) the well drilled to 117 metres where 508
mm casing was set and diverter installed, prior to drilling on to the present
depth.

Perseverance-1, the second of the planned three well exploration drilling
programme in the region, is scheduled to reach the proposed Total Depth of 1,774
metres early next week.

Participating Interests in WA-325-P are:

Roc Oil (WA) Pty Ltd (Operator)                                  37.5%
Apache Northwest Pty Limited                                     37.5%
ARC (Offshore PB) Limited                                        20.0%
Wandoo Petroleum Pty Ltd. (Mitsui & Co Group of Companies)        5.0%



Damian Fisher
General Manager
External Affairs & Investor Relations

                                         For further information please contact:
                                                                Dr John Doran on
                                                            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]
                                         Mob: [phone]
                                                     Email:  [e-mail]
                                                                                
                                                                    Nick Lambert
                                           Bell Pottinger Corporate & Financial
                                                      Tel:  [phone]



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