Drilling Update: Mauritania

Roc Oil Company Limited
05 December 2006


5 December 2006

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

                          EXPLORATION DRILLING UPDATE
                              OFFSHORE MAURITANIA

Further to its Stock Exchange Release on 28 November 2006 regarding the
Dana-operated Aigrette-1 exploration well in Block 7, ROC advises that the well
was drilled to a Total Depth of 5,152 metres without encountering further
hydrocarbons.

As previously reported, the preliminary interpretation of the drilling data and
the wireline logging programme indicates that a gross hydrocarbon column of
about 20 metres has been encountered and confirmed in fluid samples to be oil.
The operator will conduct further analysis over the coming months. However, it
is ROC's view that whilst this result is technically very encouraging, at this
stage, it is likely to be sub-commercial.

As at 0600 hours (local time) on 4 December the current operation was plugging
and abandoning the well.

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.

Following completion of plug and abandonment operations, the Atwood Hunter rig
will return to drill the Woodside-operated Chinguetti-18 development well.

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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