Exploration Update Mauritania

Roc Oil Company Limited
24 October 2006





24 October 2006




                          ROC OIL COMPANY LIMITED ('ROC')

                             STOCK EXCHANGE RELEASE

                          EXPLORATION DRILLING UPDATE
                              OFFSHORE MAURITANIA

Further to its Stock Exchange Release on 17 October 2006 regarding the Dana-
operated Aigrette-1 exploration well in Block 7, ROC advises that the well has 
been drilled to a depth of 2,809 metres where the 13 3/8 inch casing was run and 
set. As at 0600 hours (local time) on 23 October preparations were underway to
drill ahead in 12 1/4 inch hole.

Aigrette-1 is located in a water depth of 1,358 metres approximately 43km north-
northwest of the 2003 Pelican-1 gas discovery and 193km 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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