Drilling Report

Roc Oil Company Limited
17 January 2006





17 January 2006


                        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 Ltd:

'Woodside Petroleum Ltd. reports the following activity by its wholly-owned
subsidiaries Woodside Mauritania Pty. Ltd. and WEL Mauritania B.V. offshore
Mauritania since the last report issued on 10 January 2006.

             PSC Area C, Block 6: Zoule-1 Exploration Well

Analysis of wireline logs and other data indicated that no significant
hydrocarbons were encountered in the Zoule-1 exploration well. The well was
plugged and abandoned by the 'Stena Tay' drill rig on 13 January 2006. The rig
then moved to the Dore-1 exploration well location in PSC Area B.

                      PSC Area B: Dore-1 Exploration Well
The Dore-1 exploration well was spudded on 16 January 2006. The well is located
approximately 19 kilometres east of the Tiof oil discovery in a water depth of
387 metres. At midnight the well had reached a depth of 472 metres. Dore-1 has a
planned total depth of approximately 2,388 metres.

Following the Dore-1 well, the 'Stena Tay' will be released from Mauritania. The
'Atwood Hunter' drill rig has been contracted for drilling campaigns in
Mauritania in 2006 and 2007 and is due to arrive in Mauritania in the second
quarter of 2006.
                                    General
All reported drilling depths are referenced to the rig rotary table and all
times are Universal Time (UTC) (Mauritanian time).

The locations of planned exploration wells and the Chinguetti Oil Field are
shown on the attached map.'

Participating Interests in the Chinguetti Joint Venture and relevant PSC areas
are:

     +-----------------------+----------+-----------+---------+-----------+
     |        Company        |Chinguetti|   PSC-A   |  PSC-B  |  PSC-C,   |
     |                       |  Joint   |           |         |  Block 6  |
     |                       | Venture  |           |         |           |
     +-----------------------+----------+-----------+---------+-----------+
     |Woodside group         |47.38448% |  53.846%  | 53.846% |  37.578%  |
     |companies (Operator)   |          |           |         |           |
     +-----------------------+----------+-----------+---------+-----------+
     |Hardman group companies|19.00800% |   24.3%   |  21.6%  |  22.422%  |
     +-----------------------+----------+-----------+---------+-----------+
     |Societe Mauritanienne  |12.00000% |    --     |   --    |    --     |
     |des Hydrocarbures      |          |           |         |           |
     |(formerly GPC)         |          |           |         |           |
     +-----------------------+----------+-----------+---------+-----------+
     |BG group companies     |10.23440% |  13.084%  | 11.63%  |    --     |
     +-----------------------+----------+-----------+---------+-----------+
     |Premier group companies| 8.12328% |    --     | 9.231%  |    --     |
     +-----------------------+----------+-----------+---------+-----------+
     |Roc Oil group companies| 3.24984% |  4.155%   | 3.693%  |   5.0%    |
     +-----------------------+----------+-----------+---------+-----------+
     |Fusion group companies |    --    |  4. 615%  |   --    |    --     |
     +-----------------------+----------+-----------+---------+-----------+
     |Petronas Carigali      |    --    |    --     |   --    |   35.0%   |
     |Overseas Sdn Bhd       |          |           |         |           |
     +-----------------------+----------+-----------+---------+-----------+
(*Map attached to copy release on ROC's Website:


Michelle Manook                              For further information please
General Manager - Corporate Affairs                                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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