Drilling Report

Roc Oil Company Limited
29 August 2006



29 August 2006


                        ROC OIL COMPANY LIMITED ('ROC')

                             STOCK EXCHANGE RELEASE

                                DRILLING UPDATE

1.  Offshore Mauritania

Further to its Stock Exchange Release on 22 August 2006 and as at 0600 hours
(local time) on 27 August 2006, the Dana-operated Flamant-1 exploration well in
Block 8 remains at its previously reported depth of 1,872 metres due to delays
caused by mechanical difficulties and adverse weather.

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                              Block 8          Block 7
Roc Oil group companies
* Option to increase to 5%                              2.000%*          4.950%
Dana Petroleum (E&P) Limited                           41.500%          63.850%
Wintershall AG                                         25.000%              --
Hardman group companies                                18.000%          16.200%
Woodside group companies                                   --           15.000%
Gaz de France UK B.V                                   13.500%              --

2.  North Sea

Further to ROC's Stock Exchange Release on 31 July 2006, the Ocean Princess
semi-submersible rig commenced drilling the single Enoch development well 16/
13a-G on 24 August 2006 and as at 0600 hours on 28 August 2006 development
drilling continues.

                 Company                                          Block 16/13a
Roc Oil (GB) Limited                                                    12.000%
Talisman Exporo Limited ()perator)                                      24.000%
Talisman LNS Limited                                                     1.200%
Dyas UK Limited                                                         14.000%
Bow Valley Petroleum (UK) Ltd                                           12.000%
Dana Petroleum (E & P) Ltd                                               8.800%
Endeavour Energy UK Limited                                              8.000%
Norvegian Partners                                                      20.000%


-------------------------                            ---------------------------


                                                                 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]
                                                    E-mail:  [e-mail]
                                                                                
                                                                    Nick Lambert
                                            Bell Pottinger Corporate & Financial
                                                       Tel:  [phone]
                                                                                
                                                                                


                      This information is provided by RNS
            The company news service from the London Stock Exchange