Drilling Update: China

Roc Oil Company Limited
12 July 2006



12 July 2006

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

                                DRILLING UPDATE
                   WEI-6-12S-1, OIL DISCOVERY, OFFSHORE CHINA

Since the last Stock Exchange Release on 13 June 2006, regarding the Wei-6-12S-1
exploration well in Block 22/12, Beibu Gulf, offshore China, operations at the
Wei-6-12S-1Sa sidetrack well have been completed.

The sidetrack well which is about 50 metres from the original discovery was
drilled to further delineate and core the relevant reservoirs. Five core samples
were successfully cut and effectively 100% recovery achieved. Initial analysis
indicates that these core samples are similar to the reservoir character and
quality found in the discovery well.

The first sidetrack well reached a Total Depth of 2,530 metres below Rotary
Table and has been plugged and abandoned after logging, in accordance with the
pre-drill programme. Preparations for the drilling of a second side track well
Wei-6-12S-1Sb are underway.

The second sidetrack has been designed to intersect the various reservoir sands
in a downdip position relative to the discovery well, with the aim of better
delineating the likely multiple oil-water contacts in the field and testing the
possible thicker downdip development of thin sands intersected in the discovery
well.

A possible sandy sequence is expected to be intersected towards the base of the
sidetrack well which is not present in the discovery well and this provides the
second side-track well with an exploration component.

The second sidetrack well is expected to commence later this week and to be
completed during August. This represents a significant step out and therefore
ROC will issue regular weekly updates on the progress achieved.

Commenting on the results of the first side track well, ROC's Chief Executive
Officer, Dr John Doran said:

'With the first side-track operations completed without any surprises, ROC and
its co-venturers will continue with their two pronged approach to appraising
this field: do it methodically and do it quickly.'

The Block 22/12 Joint Venture comprises*:

Roc Oil (China) Company     40% and Operator
Horizon Oil Limited         30%
Petsec Energy Ltd           25%
Oil Australia Pty Ltd**      5%

*The China National Offshore Oil Company ('CNOOC') is entitled to participate up
to a 51% funding equity level in any commercial development within Block 22/12.
** A subsidiary of First Australian Resources

In accordance with new Alternative Investment Market of the London Stock
Exchange ('AIM') rules the information in this report has been reviewed by an
appropriately qualified person with more than five years relevant industry
experience, specifically, Dr John Doran, Bsc (Hons) Geology; M.Sc; PhD, Chief
Executive Officer, Roc Oil Company Limited, and a member of the Society of
Petroleum Engineers.


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]
                                                                                


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