Exploration Drilling Update

Roc Oil Company Limited
05 May 2006



5 May 2006



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

                          EXPLORATION DRILLING UPDATE:
                        WEI-6-12S-1 WELL, OFFSHORE CHINA

Wei-6-12S-1, Block 22/12, Beibu Gulf, Offshore China (ROC: 40% & Operator)

As at 0600 hours (local time) on 5 May 2006, the Wei-6-12S-1 exploration well
had drilled to a depth of 2,007 metres below rotary table ('mBRT') and the
current operation was running in hole to drill ahead following a short wiper
trip.

At 1,956 mBRT, a sand with an apparent drilled thickness of three to five metres
was encountered with good reservoir characteristics, strong oil shows and an
associated increase in wet gas readings. Pre-drill interpretation suggests that
this sand is at the top of an interbedded sand-shale sequence that is expected
to be several hundred metres thick.

At approximately 1,985 mBRT a sandy interval, with an apparent drilled thickness
of about 16 metres, was encountered without any obvious oil shows but with very
high wet gas readings.

Until the well has been drilled to the proposed Total Depth of 2,530 mBRT and a
full suite of electric logs acquired and analysed, it is not possible to comment
as to the commercial significance of the hydrocarbon shows encountered to date.

The Wei-6-12S prospect represents an unusual structural target. Within a small
(about one sq km) area of closure lies a thick (hundreds of metres) gross
prospective sedimentary sequence which together creates a potential trap
capacity in the order of a few to many tens of millions of barrels of oil.
Information from wells within and adjacent to Block 22/12 suggests that:
reservoir quality will be good to excellent; the hydrocarbon type is likely to
be oil rather than gas; recovery factors should be high; and oil viscosity is
unlikely to be a problem in the targeted reservoir section.

Wei-6-12S-1 is positioned so as to test the structure some 20 to 30 metres below
its crest. The well is in about 30 metres of water, approximately 3 km southwest
of the 2002 Wei-6-12-1 oil discovery.

Commenting on the well results to date ROC's CEO, John Doran, stated that:

'On the basis of currently available drill data the well is likely to be
classified as a discovery. While that is technically encouraging, it is not the
key commercial point. The real question the well needs to answer is whether or
not the accumulation is large enough to merit further appraisal and we won't
have the first part of that answer until early next week.'

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%
* subsidiary of First Australian Resources

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