Drilling Update: Mauritania

Roc Oil Company Limited
05 September 2006


5 September 2006

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

                          EXPLORATION DRILLING UPDATE
                              OFFSHORE MAURITANIA

ROC advises that further to its Stock Exchange Release on 29 August 2006 on the
Dana-operated Flamant-1 exploration well in Block 8 mechanical repairs have been
completed.

As at 0600 hours (local time) on 4 September 2006, no significant drilling
progress from the 20 inch casing shoe which was set at 1,870 metres had been
made. Drilling operations are expected to recommence shortly.

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




                                             For further information please
Michelle Manook                                                    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