Perth Basin, Offshore WA

Roc Oil Company Limited
31 July 2006



31 July 2006


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

                          EXPLORATION DRILLING UPDATE
                    PERTH BASIN, OFFSHORE WESTERN AUSTRALIA

Roc Oil (WA) Pty Limited advises that since its last Stock Exchange Release on
25 July 2006 regarding the Moondah-1 exploration well in TP/15, the well has
been drilled to a Total Depth of 1,450 metres below Rotary Table without
encountering significant hydrocarbons.

As at 0600 hours (Western Standard Time) on 31 July 2006, operations were
underway to plug and abandon the well prior to the ENSCO 67 jack-up drill rig
relocating to commence drilling operations at the Frankland-1 exploration well
in WA-286-P.

Moondah-1 is located in TP/15 in the offshore Perth Basin, 17 km north of the
Cliff Head Oil Field.

The TP/15 Joint Venture comprises:

Roc Oil (WA) Pty Limited (Operator)    20.0%
ARC Energy Limited                     45.0%
AWE Oil (Western Australia) Pty Ltd    25.0%
Westranch Holdings Pty Limited         10.0%


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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