Drilling Update - Mauritania

Roc Oil Company Limited
31 October 2006



31 October 2006

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

                          EXPLORATION DRILLING UPDATE
                              OFFSHORE MAURITANIA

Further to its Stock Exchange Release on 24 October 2006 regarding the Dana-
operated Aigrette-1 exploration well in Block 7, ROC advises that the well has
been drilled to a depth of 3,530 metres in 12 1/4 inch hole. As at 0600 hours
(local time) on 30 October, preparations were underway to drill ahead in 121/4
inch hole with a new drill bit.

Aigrette-1 is located in a water depth of 1,358 metres approximately 43 km
north- northwest of the 2003 Pelican-1 gas discovery and 193 km north-northwest
of the Chinguetti Oil Field. The planned Total Depth is 4,925 metres.

Participating interests include:

+-----------------------------------+---------------------+
|              Company              |    Dana Operated    |
|                                   |       Block 7       |
+-----------------------------------+---------------------+
|Roc Oil group companies            |        4.95%        |
+-----------------------------------+---------------------+
|Dana Petroleum (E&P) Limited       |       36.00%        |
+-----------------------------------+---------------------+
|Hardman group companies            |       16.20%        |
+-----------------------------------+---------------------+
|Woodside group companies           |       15.00%        |
+-----------------------------------+---------------------+
|Gaz de France                      |       27.85%        |
+-----------------------------------+---------------------+



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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