Drilling Update - Mauritania

Roc Oil Company Limited
20 December 2005



20 December 2005



                         ROC OIL COMPANY LIMITED ('ROC')

                             STOCK EXCHANGE RELEASE

                            DRILLING ACTIVITY UPDATE
                 FAUCON-1 EXPLORATION WELL, OFFSHORE MAURITANIA

ROC advises that since the Company's last 'Drilling Activity Update' on 13
December, 2005, the 'Stena Tay' drilling rig has drilled Faucon-1 a further 496
metres to a Total Depth of 4,170 metres without encountering any significant
hydrocarbons. The current operation is preparing to plug and abandon the well as
a regionally significant but sub-commercial, discovery.

Therefore, the main outcome of the drilling of Faucon-1 remains as reported last
week: it encountered two hydrocarbon-bearing sandstones some 150 metres apart.
The upper sandstone is gas-bearing and four metres thick while the lower 40
metres thick sandstone has a 10 metre interval at the top of it which appears to
contain light oil or liquids-rich gas-condensate. The composition of the
hydrocarbon fluid cannot be finally determined until the downhole pressurised
fluid samples recovered from the well have been fully analysed in an onshore
laboratory.

Faucon-1 is located in 1,162 metres of water, 140 km south of the Chinguetti Oil
Field.

Commenting on the Faucon-1 results, ROC's CEO John Doran said:

'Any time you find net hydrocarbon pay in the Cretaceous in a previously
undrilled area 140 km from Chinguetti, you have to be encouraged. Exploration
offshore Mauritania is still in its infancy: more than 14 million acres/50,000
sq km; barely scratched by the drill bit.'

The Joint Venture Interests in Block 1 are:
+----------------------------------------+------------+
|                                        |   Equity   |
+----------------------------------------+------------+
|Dana Petroleum (E&P) Limited (Operator) |36.0%       |
+----------------------------------------+------------+
|Gaz de France UK B.V.                   |24.0%*      |
+----------------------------------------+------------+
|Tullow Oil                              |20.0%       |
+----------------------------------------+------------+
|Hardman Petroleum (Mauritania) Pty      |18.0%       |
|Limited                                 |            |
+----------------------------------------+------------+
|Roc Oil (Mauritania) Company            |2.0%        |
+----------------------------------------+------------+
* Subject to farmin from Dana

                                         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]
                                                       Fax:  [phone]
                                                     Email:  [e-mail]
                                                                                
                                                                    Nick Lambert
                                            Bell Pottinger Corporate & Financial
                                                       Tel:  [phone]



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