Drilling Update: Mauritania

Roc Oil Company Limited
22 August 2006



22 August 2006


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

                          EXPLORATION DRILLING UPDATE
                              OFFSHORE MAURITANIA

Further to its Stock Exchange Release on 15 August 2006, ROC advises the Atwood
Hunter drilled the Dana-operated Flamant-1 exploration well in Block 8 to a
depth of 1,872 metres and the 20 inch casing had been run and cemented. As at
midnight (local time) on 20 August 2006 the Blow Out Preventer equipment was
being run and tested.

Flamant-1 is located in a water depth of 1,414 metres approximately 340 km
north-west of the Chinguetti Oil Field. The planned Total Depth is approximately
3,370 metres.

On completion of Flamant-1 the Atwood Hunter will drill a second Dana-operated
exploration well, Aigrette-1 in Block 7, before returning the rig to Woodside.

Participating interests include:

+----------------------------------+------------+------------+
|             Company              |  Block 8   |  Block 7   |
+----------------------------------+------------+------------+
|Roc Oil group companies           |     2.000%*|   4.950%   |
|*Option to increase to 5%         |            |            |
+----------------------------------+------------+------------+
|Dana Petroleum (E&P) Limited      |     41.500%|  63.850%   |
|(Operator)                        |            |            |
+----------------------------------+------------+------------+
|Wintershall AG                    |     25.000%|     --     |
+----------------------------------+------------+------------+
|Hardman group companies           |     18.000%|  16.200%   |
+----------------------------------+------------+------------+
|Woodside group companies          |     --     |  15.000%   |
+----------------------------------+------------+------------+
|Gaz de France UK B.V              |     13.500%|     --     |
+----------------------------------+------------+------------+

                                         For further information please contact:
Michelle Manook                                                 Dr John Doran on
General Manager - Corporate Affairs                         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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