Mauritania Drilling Update

Roc Oil Company Limited
14 December 2004



14 December 2004

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

                      MAURITANIA OFFSHORE DRILLING UPDATE

ROC advises that the following release was made earlier today by Woodside
Petroleum Limited:

'Woodside Mauritania Pty Ltd, a wholly-owned subsidiary of Woodside Petroleum
Ltd., reports the following activity offshore Mauritania since the last report
issued on 7 December 2004.

                                 PSC-B, Block 4
                    Tiof-5 and Chinguetti Development wells

Tiof-5 Appraisal well
The 'Stena Tay' drilled the Tiof-5 appraisal well to a final total depth of 3010
metres.

Preliminary interpretation of logs acquired while drilling and wireline logging
operations, including fluid sampling and downhole pressure measurements,
indicate the well has intersected a gross oil column of approximately 23 metres
in several individual sands of variable thickness.

At midnight on 13 December wireline logging operations and the evaluation of
well data was continuing.

After completing operations on the Tiof-5 appraisal well, the 'Stena Tay' will
move to the Chinguetti Field and join the West Navigator on the development
drilling program.

Chinguetti Development wells
The 'West Navigator' drill ship continued operations on Chinguetti Development
wells. Woodside does not plan to issue announcements regarding operations on
Chinguetti development wells, but will do so if necessary in order to comply
with its continuous disclosure obligations under the ASX Listing Rules.

All reported drilling depths are referenced to the rig rotary table and all
times are Universal Time (UTC) (Mauritanian time).

The locations of the Chinguetti Oil Field, the Tiof and Banda discoveries and
exploration wells are shown on the attached map*.

Wells are expected to be drilled in two production sharing contract areas during
the remainder of the 2004/5 campaign.'

Participating Interests in the areas are:

          +-----------------------------------+-----------+----------+
          |              Company              |   PSC-A   |  PSC-B   |
          +-----------------------------------+-----------+----------+
          |Woodside group companies (Operator)|  53.846%  | 53.846%  |
          +-----------------------------------+-----------+----------+
          |Hardman group companies            |   24.3%   |  21.6%   |
          +-----------------------------------+-----------+----------+
          |BG group companies                 |  13.084%  |  11.63%  |
          +-----------------------------------+-----------+----------+
          |Premier group companies            |    --     |  9.231%  |
          +-----------------------------------+-----------+----------+
          |Fusion group companies             |  4. 615%  |    --    |
          +-----------------------------------+-----------+----------+
          |ROC Oil group companies            |  4.155%   |  3.693%  |
          +-----------------------------------+-----------+----------+


*Map attached to the copy of this release on ROC's website
(http://www.rocoil.com.au/Pages/ASX_Releases/2004_Releases/December-2004.html)


Bruce Clement                            For further information please contact:
Chief Operating Officer                                         Dr John Doran on
                                                            Tel: [phone]
                                                            Fax: [phone]
                                                    E-mail: [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]
 
                                                Ann-Marie Wilkinson/Nick Lambert
                                            Bell Pottinger Corporate & Financial
                                                      Tel:  [phone]



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