Drilling Update: Exploration

Roc Oil Company Limited
12 June 2007


12 June 2007

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

                 Drilling Activity Update: Exploration Drilling

KEY POINT

•   Discovery offshore Western Australia and exploration drilling underway
    onshore Angola.

1. Dunsborough-1, Offshore Perth Basin: ROC: 37.5% & Operator

Roc Oil (WA) Pty Limited, a wholly owned subsidiary of ROC, advises that the
Dunsborough-1 exploration well, WA-286-P, in the offshore Perth Basin, has been
classified as a new field oil and gas discovery.

Since ROC's last Stock Exchange Report on 1 June 2007, Dunsborough-1 has been
drilled to a Total Depth of 1,755 metres Below Rotary Table and a comprehensive
wireline electrical logging and fluid pressure and sampling programme has been
completed. Preliminary interpretation suggests that the well has intersected a
minimum 25 metre gross hydrocarbon column of which approximately 18 metres is
net pay. The accumulation appears to have a small ( < 13 metres) gross gas column
above an oil column containing light oil (approximately 40o API) in sands of
poor to moderate reservoir quality. Pressure data indicate that the total gross
hydrocarbon column associated with the Dunsborough structure may be up to 70
metres. Tentative volumetric estimates by ROC suggest that the structure could
contain between 20 and 40 million barrels of oil in-place.

As of 0600 hours on 12 June 2007, Australian Western Standard Time ('AWST'), the
current operation at Dunsborough-1 was preparing to plug and abandon the well in
accordance with the pre-drill schedule.

Dunsborough-1, located approximately 25 km south of Geraldton, Western Australia
and about 50 km northwest of the Cliff Head Oil Field, is the third and final
well in an offshore Perth Basin drilling programme which was initiated in early
April, 2007 by the WA-286-P and WA-325-P joint ventures, both of which are
operated by ROC. The programme's first well was the Frankland-1 gas discovery in
WA-286-P, about 25 km southeast of Dunsborough-1, the programme's second well
was the Perserverance-1 gas discovery in WA-325-P, approximately 50 km to the
northwest of Dunsborough.

Commenting on the three well programme ROC's Chief Executive Officer, John Doran
stated that:

'It is always nice to drill three offshore exploration wells and make three
discoveries, particularly when that extends the known oil and gas fields some
200 kilometres along regional strike to the northwest of the Cliff Head Oil
Field. However, at the end of the day we're not looking to play with exploration
success statistics but rather to clock up commercial success - and it will take
some time to establish whether or not we have done that.

Of the three discoveries, Frankland and Dunsborough look as if they have the
best chance of being developed, while Perserverance will probably need a lot of
good things to happen around it if is going to make the grade.

Whatever the details, it would seem that an exploration programme that was
regarded by ROC as the last throw of the dice in the northern offshore Perth
Basin, has certainly provided enough success to cause us to move the discoveries
on to the appraisal stage and continue to explore around and on trend from
them.'

Participating Interests in WA-286-P are:

Roc Oil (WA) Pty Ltd (Operator)....................................37.5%
AWE Oil (Western Australia) Pty Ltd................................27.5%
Wandoo Petroleum Pty Ltd (Mitsui & Co Group of Companies)*.........24.0%
ARC (Offshore PB) Limited...........................................6.0%
CIECO Exploration and Production (Australia) Pty Ltd................5.0%
* Subject to a purchase agreement with ARC Energy

2. Massamabala-1, Onshore Angola: ROC 60% & Operator

Roc Oil (Cabinda) Company, a wholly owned subsidiary of ROC, advises that, as of
1600 hours on 9 June 2007 (local time), the ROC-owned 'Explorer' rig commenced
drilling the Massambala-1 exploration well in the Cabinda South Block, onshore
Angola.

As at 0600 hours on 11 June 2007 (local time) the current operation was waiting
on cement prior to drilling ahead.

Massambala-1, a directionally drilled well located on the coastal plain south of
Cabinda City, is the first of a minimum five well exploration drilling programme
to be operated by ROC onshore Angola during 2007. It is currently anticipated
that Massambala-1 will reach a Total Depth of 2,185 metres by early August.

ROC will issue Stock Exchange releases documenting the progress and results of
its drilling operations in Angola as material information becomes available
although this will not necessarily be on a weekly basis. This reporting
rationale reflects the fact that oil and/or gas shows are not uncommon in the
region and therefore reporting hydrocarbon shows in isolation, as and when they
are encountered, regardless of magnitude and prior to receiving additional
back-up log data, may not be material.

Participating Interests in the Cabinda South Block are:

ROC Group Companies (Operator)............60%
Force Petroleum Limited...................20%
Sonangol P&P S.A..........................20%

Commenting on the commencement of drilling onshore Angola, ROC's Chief Executive
Officer, Dr John Doran, stated that:


'The commencement of the first well in 35 years onshore Cabinda might be
regarded as a significant event, but ROC's focus is not on any sense of
occasion, as much as the operational end of our business, including the
continuing interaction with the local communities, who have been very supportive
of our efforts to date. If these aspects of ROC's work in Cabinda continue to
flourish then, from here on in, the rocks should be able to speak for
themselves. While nobody can be sure as to what the drill bit will find it
certainly looks as if the next many months will be quite an interesting period
for the Company and its shareholders.'


Damian Fisher
General Manager
External Affairs & Investor Relations

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


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