Drilling Report

Roc Oil Company Limited
03 January 2006






3 January 2006



                           ROC OIL COMPANY LIMITED ('ROC')

                             STOCK EXCHANGE RELEASE

                            DRILLING ACTIVITY UPDATE

1. MAURITANIA - Exploration Drilling.
                                        
ROC advises that the following release was made earlier today by Woodside
Petroleum Ltd:

'Woodside Petroleum Ltd. reports the following activity by its wholly-owned
subsidiaries Woodside Mauritania Pty. Ltd. and WEL Mauritania B.V., offshore
Mauritania since the last report issued on 23 December 2005.

PSC Area C, Block 6: Zoule-1 Exploration Well

The 'Stena Tay' drill rig resumed exploration drilling for Woodside Operated
Joint Ventures in Mauritania.

The Zoule-1 exploration well was spudded on 25 December 2005 in a water depth of
2,628 metres where 9 5/8 inch casing was set. At midnight on 2 January 2006,
preparations were underway to commence drilling an 8 1/2 inch hole to the
Cretaceous objective. Zoule-1 has a planned total depth of approximately 3,730
metres.'

Participating Interests in the Chinguetti Joint Venture and relevant PSC areas
are:
       +--------------------+----------+----------+----------+----------+
       |      Company       |Chinguetti|  PSC-A   |  PSC-B   |  PSC-C,  |
       |                    |  Joint   |          |          | Block 6  |
       |                    | Venture  |          |          |          |
       +--------------------+----------+----------+----------+----------+
       |Woodside group      |47.38448% | 53.846%  | 53.846%  | 37.578%  |
       |companies (Operator)|          |          |          |          |
       +--------------------+----------+----------+----------+----------+
       |Hardman group       |19.00800% |  24.3%   |  21.6%   | 22.422%  |
       |companies           |          |          |          |          |
       +--------------------+----------+----------+----------+----------+
       |Societe             |12.00000% |    --    |    --    |    --    |
       |Mauritanienne des   |          |          |          |          |
       |Hydrocarbures       |          |          |          |          |
       |(formerly GPC)      |          |          |          |          |
       +--------------------+----------+----------+----------+----------+
       |BG group companies  |10.23440% | 13.084%  |  11.63%  |    --    |
       +--------------------+----------+----------+----------+----------+
       |Premier group       | 8.12328% |    --    |  9.231%  |    --    |
       |companies           |          |          |          |          |
       +--------------------+----------+----------+----------+----------+
       |Roc Oil group       | 3.24984% |  4.155%  |  3.693%  |   5.0%   |
       |companies           |          |          |          |          |
       +--------------------+----------+----------+----------+----------+
       |Fusion group        |    --    | 4. 615%  |    --    |    --    |
       |companies           |          |          |          |          |
       +--------------------+----------+----------+----------+----------+
       |Petronas Carigali   |    --    |    --    |    --    |  35.0%   |
       |Overseas Sdn Bhd    |          |          |          |          |
       +--------------------+----------+----------+----------+----------+

2. AUSTRALIA - Cliff Head Development Drilling

ROC also advises that, following the successful installation of the Jacket
component of the Cliff Head 'A ' Platform, the Ensco 67 jack-up drilling rig
commenced development drilling on the 26 December 2005. ROC does not intend to
issue regular Cliff Head development drilling updates except to comply with its
continuous disclosure obligations.

Michelle Manook                              For further information please
General Manager - Corporate Affairs                                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]


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