Drilling Update: Mauritania

Roc Oil Company Limited
17 October 2006



17 October 2006

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

                          EXPLORATION DRILLING UPDATE
                              OFFSHORE MAURITANIA

ROC advises that since its last release on 10 October 2006, the 20 inch casing
had been set at 2,004 metres and the BOPs run. As at 0800 hours (local time) on
16 October the current operation was drilling ahead in 17 1/2 inch hole at a
depth of 2,011 metres.

Aigrette-1 is located in a water depth of 1,358 metres approximately 43 km
north, northwest of the 2003 Pelican-1 gas discovery and 193 km north, northwest
of the Chinguetti Oil Field. The planned Total Depth is 4,925 metres.

On completion of Aigrette-1 the Atwood Hunter will return to drill the remaining
wells in the Woodside-operated programme: Kibaro-1 exploration well in PSC Area
A and Chinguetti-18 development well.

Participating interests include:

  +----------------------------------+-----------+-----------+--------------+
  |             Company              |   Dana    | Woodside  |   Woodside   |
  |                                  | Operated  | Operated  |   Operated   |
  |                                  |  Block 7  |   PSC-A   |  Chinguetti  |
  |                                  |           |           |Joint Venture |
  +----------------------------------+-----------+-----------+--------------+
  |Roc Oil group companies           |  4.950%   |  4.155%   |   3.24984%   |
  +----------------------------------+-----------+-----------+--------------+
  |Dana Petroleum (E&P) Limited      |  36.000%  |    --     |      --      |
  +----------------------------------+-----------+-----------+--------------+
  |Hardman group companies           |  16.200%  |  24.300%  |  19.00800%   |
  +----------------------------------+-----------+-----------+--------------+
  |Woodside group companies          |  15.000%  |  53.846%  |  47.38448%   |
  +----------------------------------+-----------+-----------+--------------+
  |Gaz de France                     |  27.850%  |    --     |      --      |
  +----------------------------------+-----------+-----------+--------------+
  |Societe Mauritanienne des         |    --     |    --     |  12.00000%   |
  |Hydrocarbures (formerly GPC)      |           |           |              |
  +----------------------------------+-----------+-----------+--------------+
  |BG group companies                |    --     |  13.084%  |  10.23440%   |
  +----------------------------------+-----------+-----------+--------------+
  |Premier group companies           |    --     |    --     |   8.12328%   |
  +----------------------------------+-----------+-----------+--------------+
  |Fusion group companies            |    --     |  4.615%   |      --      |
  +----------------------------------+-----------+-----------+--------------+



Michelle Manook
General Manager - Corporate Affairs

                                         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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