Drilling Report

Roc Oil Company Limited
02 January 2007





2 January 2007



                         ROC OIL COMPANY LIMITED ('ROC')

                             STOCK EXCHANGE RELEASE

                      OFFSHORE MAURITANIA DRILLING UPDATE
                         CHINGUETTI-18 DEVELOPMENT WELL

ROC advises that the Atwood Hunter drilling rig commenced drilling the
Woodside-operated Chinguetti-18 development well within PSC B before midnight on
29 December (local time).

At midnight on 30 December (local time), the well had been drilled to a depth of
approximately 900 metres where the 30 inch conductor casing was run and then
cemented prior to pulling out of hole on 31 December (local time).

By 0600 hours on 1 January 2007 (local time), preparations were underway to
drill ahead.

Chinguetti-18 is located within the southern part of the Chinguetti Oil and Gas
Field in a water depth of 819 metres approximately 80 km southwest of the
Mauritanian capital Nouakchott.  The planned Total Depth is 2,912 metres and the
well is expected to be drilled and completed by late February 2007.

Participating interests are:

                   Company                         Chinguetti Joint Venture
         ----------------------------                      ----------
Roc Oil group companies                                     3.24984%
Woodside group companies (Operator)                        47.38448%
Hardman group companies                                    19.00800%
Societe Mauritanienne des Hydrocarbures                    12.00000%
BG group companies                                         10.23440%
Premier group companies                                     8.12328%


-------------------------                               ------------------------
Michelle Manook                           or 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]
                                                     E-mail: [e-mail]

                                                                    Nick Lambert
                                            Bell Pottinger Corporate & Financial
                                                        Tel: [phone]




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