Drilling Update Flying Foam-1

Roc Oil Company Limited
14 November 2005


14 November 2005



                             ROC OIL COMPANY LIMITED
                              STOCK EXCHANGE RELEASE

                           DRILLING ACTIVITY UPDATE:
                                 FLYING FOAM-1


KEY POINT

-  Flying Foam-1, a wildcat exploration well in the offshore Northern Perth 
   Basin, is drilling ahead after encountering oil shows in tight sands.

Roc Oil (WA) Pty Ltd, Operator for and on behalf of the WA-327-P Joint Venture,
advises that, as at 05.00 hrs Western Standard Time, Monday, 14 November, Flying
Foam-1, a wildcat exploration well in the offshore Northern Perth Basin, is
drilling ahead at 1,360 metres Below Rotary Table ('mBRT') towards a revised
Total Depth of 1,370 mBRT. The well has drilled a gross 45 metre interval of
sandstones with oil shows. Subject to more complete log evaluation at Total
Depth, the initial indication is that these sands display very poor reservoir
quality.

Unless significantly better reservoir is encountered, it is anticipated that the
well will be plugged and abandoned after Total Depth has been reached and
logging completed.

Flying Foam-1 is located in 65 metres of water, 160km northwest of Geraldton,
Western Australia.

Following Flying Foam-1, the ENSCO 67 jack-up drilling rig will relocate to the
Cliff Head Oil Field, 230 km to the southeast, where the WA-286-P Joint Venture
will utilise it for the installation of production facilities and development
drilling of Cliff Head.

The WA-327-P Joint Venture comprises:
                                             Equity
Roc Oil (WA) Pty Ltd (Operator)              37.50%
Apache Northwest Pty Limited                 37.50%
Arc Energy                                    20.0%
Wandoo Petroleum Pty Ltd                      5.00%


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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