Offshore Mauritania

Roc Oil Company Limited
15 August 2006


15 August 2006

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

                          EXPLORATION DRILLING UPDATE
                              OFFSHORE MAURITANIA

Further to its Stock Exchange Release on 1 August 2006, ROC advises that the
Atwood Hunter drilling rig commenced operations at the Dana-operated Flamant-1
exploration well in Block 8 on 11 August 2006, with the drilling of a pilot hole
to check for shallow gas.

At 0600 hours (local time) on 13 August 2006, Flamant-1 was drilled to a depth
of 1,494 metres where the 36 inch conductor was set, with preparations underway
to drill ahead in 26 inch hole. Flamant-1 is located in a water depth of 1,414
metres approximately 340 km north-west of the Chinguetti Oil Field. The planned
Total Depth is approximately 3,370 metres.

On completion of Flamant-1 the Atwood Hunter will drill a second Dana-operated
exploration well, Aigrette-1 in Block 7, before returning the rig to Woodside.

Participating interests include:

               +---------------------------+---------+---------+
               |          Company          |  Dana   |  Dana   |
               |                           |Operated |Operated |
               |                           | Block 8 | Block 7 |
               +---------------------------+---------+---------+
               |Woodside group companies   |   --    |  15.000%|
               +---------------------------+---------+---------+
               |Hardman group companies    |  18.000%|  16.200%|
               +---------------------------+---------+---------+
               |Roc Oil group companies    |  2.000%*|   4.950%|
               +---------------------------+---------+---------+
               |Dana Petroleum (E&P)       |  24.000%|  36.000%|
               |Limited                    |         |         |
               +---------------------------+---------+---------+
               |Wintershall AG             |  25.000%|   --    |
               +---------------------------+---------+---------+
               |Gaz de France UK B.V       |  31.000%|  27.850%|
               +---------------------------+---------+---------+
* Option to increase to 5%

Michelle Manook                          For further information please contact:
General Manager - Corporate Affairs                             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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