Drilling Update: Mauritania

Roc Oil Company Limited
01 August 2006


1 August 2006



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

                          EXPLORATION DRILLING UPDATE
                              OFFSHORE MAURITANIA


ROC advises that since its last Stock Exchange Release on 24 July 2006 regarding
the Colin-1 exploration well in PSC Area A, the well has been drilled to a Total
Depth of 2,322 metres below Rotary Table without encountering significant
hydrocarbons.

As at 2300 hours (local time) on 31 July 2006, wireline logging was continuing
prior to the well being plugged and abandoned.

Subsequent to Colin-1, the Atwood Hunter drill rig will relocate to drill the
Dana-operated exploration well Flamant-1 (Block 8).

The Colin-1 well was drilled in a water depth of 168 metres approximately 60
kilometres south of the Chinguetti Oil Field.

Participating interests include:

+---------------------------+-------------------+---------------+
|          Company          | Woodside-Operated | Dana-Operated |
|                           |       PSC-A       |    Block 8    |
+---------------------------+-------------------+---------------+
|Woodside group companies   |            53.846%|      --       |
+---------------------------+-------------------+---------------+
|Hardman group companies    |            24.300%|        18.000%|
+---------------------------+-------------------+---------------+
|BG group companies         |            13.084%|      --       |
+---------------------------+-------------------+---------------+
|Roc Oil group companies    |             4.155%|         2.000%|
+---------------------------+-------------------+---------------+
|Fusion group companies     |             4.615%|      --       |
+---------------------------+-------------------+---------------+
|Dana Petroleum (E&P)       |        --         |        24.000%|
|Limited                    |                   |               |
+---------------------------+-------------------+---------------+
|Wintershall AG             |        --         |        25.000%|
+---------------------------+-------------------+---------------+
|Gaz de France UK B.V       |        --         |        31.000%|
+---------------------------+-------------------+---------------+


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]
                                                                                


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