Drilling Report

Roc Oil Company Limited
28 December 2005



28 December 2005

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

                           DRILLING ACTIVITY UPDATE:
                 ZOULE-1 EXPLORATION WELL, OFFSHORE MAURITANIA

ROC advises that on 25 December, the 'Stena Tay' drilling rig commenced drilling
the Zoule-1 exploration well. As at midnight, 27 December 2005, (local time),
the well had drilled 18 1/2 inch hole to 1,619 metres where the 13 3/8 inch 
casing was being run and cemented.

Zoule-1, which is targeting Cretaceous channel sands, is located in 782 metres
of water and has a proposed Total Depth of 3,730 metres. The well is
approximately 78 km from shore, 130 km north of the Chinguetti Oil Field and 27
km south-east of Pelican-1, a Cretaceous gas discovery drilled in Block 7 in
late 2003 in which ROC has a 4.950% interest.

The Joint Venture Interests in Block 6 are:
+----------------------------------------+------------+
|                                        |   Equity   |
+----------------------------------------+------------+
|Woodside Mauritania Pty Ltd (Operator)  |37.578%     |
+----------------------------------------+------------+
|Petronas Carigali Overseas Sdn Bhd      |35.000%     |
+----------------------------------------+------------+
|Hardman Petroleum (Mauritania) Pty Ltd  |18.422%     |
+----------------------------------------+------------+
|Planet Oil (Mauritania) Limited         |4.000%      |
+----------------------------------------+------------+
|Roc Oil (Mauritania) Company            |5.000%      |
+----------------------------------------+------------+



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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