Drilling Update-OffshoreChina

Roc Oil Company Limited
11 March 2008



11 March 2008

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

                DRILLING UPDATE: WEI 6-12E-1A EXPLORATION WELL,
                          BLOCK 22/12, OFFSHORE CHINA

Roc Oil (China) Company, a wholly owned subsidiary of ROC, advises that as at
0600 hours (local time) on 11 March 2008, the current operation at the Wei
6-12E-1A exploration well was cutting sidewall cores. Since the last Drilling
Report on 4 March 2008, the well has drilled to a Total Depth of 2,510 mBRT and
an extensive evaluation programme has been carried out. Although the well
encountered minor residual oil shows it will be plugged and abandoned. The well
result does not impact upon the development plans for the nearby Wei 6-12 and
Wei 6-12 South Oil Fields.

Based on a variety of operational reasons, the Block 22/12 Joint Venture is
currently reviewing its decision to drill the Wei 12-2N-1 well.

Participating Interests in the Block 22/12 Joint Venture are:

    Roc Oil (China) Company (Operator)..................40%
    Horizon Oil Limited.................................30%
    Petsec Petroleum*...................................25%
    Oil Australia Pty Ltd**..............................5%

    The above interests are subject to Government participation in developments
    of up to 51%
    *a subsidiary of Petsec Energy Ltd **a subsidiary of First Australian 
    Resources


Damian Fisher
General Manager
External Affairs & Investor Relations

                                         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]
                                     Mob: [phone]
                                                     Email:  [e-mail]
                                                                                
                                                                    Michael Shaw
                                    Oriel Securities Limited (Nominated Adviser)
                                                       Tel:  [phone]
                                                                                
                                                                     Bobby Morse
                                                         Buchanan Communications
                                                       Tel: + 44 (0)20 7466 5000
                                                       Fax: + 44 (0)20 7466 5001
                                                  E-Mail: [e-mail]
                                                        Mob: [phone]
                                                                                


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