Production Update

Roc Oil Company Limited
10 October 2006



10 October 2006


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

                               PRODUCTION UPDATE

1.    C and D Oil Fields, Zhao Dong Block, Bohai Bay, Offshore China (ROC: 24.5%
      & Operator)

Gross production from the C and D fields has been pared back from about 30,000
barrels of oil per day ('BOPD') to 22,000 BOPD. This is a result of the fields'
excellent performance during 2006 with recent daily gross production far
exceeding the production level originally approved by the Government. The
Government's requirement that all production rates should strictly adhere to the
approved Development Plan has resulted in both fields being temporarily subject
to constrained production rates.

ROC and its co-venturers, including PetroChina, which holds a 51% interest in
the Zhao Dong Block, are currently discussing the Annual Production Forecast for
2007 in order to ensure that it appropriately reflects the fields' productive
capabilities. In the meantime, a proposal to expand the production capacity of
the fields is being prepared for Government consideration so that production may
be restored to a higher level.

The temporary reduction of production at Zhao Dong will not cause ROC to lose
any reserves but rather it will defer a small portion of the Company's
production to a later stage of the fields' lives. Although in the immediate term
ROC's net production from Zhao Dong will be reduced by almost 2,000 BOPD,
possibly until end-2006, ROC's company-wide production will reduce by about
1,000 BOPD due to a partially offsetting recent increase in production at the
Cliff Head Oil Field, offshore Western Australia.

Commenting on the situation, ROC's Chief Executive Officer, Dr John Doran,
stated:

'Western oil companies don't often come across the concept that oil production
may need to be temporarily reduced because a field has out-performed
expectations. In fact, we are much more familiar with situations where
production is reduced because a field has under-performed. ROC greatly values
its developing relationship with PetroChina and it fully recognises, that the
Government has specific planning criteria which need to be reflected in the late
2006 production profile at Zhao Dong.'

2.    Cliff Head Oil Field, Perth Basin, Offshore Western Australia (ROC: 37.5%
      & Operator)

Recent gross oil production from Cliff Head has generally ranged between 11,000
BOPD and 12,500 BOPD (ROC net: 4,125 BOPD and 4,687 BOPD respectively) with a
high of 15,800 BOPD (ROC net: 5,925 BOPD). The range reflects intermittent
downstream constraints, most recently relating to trucking capacity, which are
currently being addressed.

3.    Chinguetti Oil Field, Offshore Mauritania (ROC: 3.25%)

Gross Production from Chinguetti has recently averaged about 30,000 BOPD (ROC
net: ca 1,000 BOPD).


Michelle Manook
General Manager - Corporate Affairs

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


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