Issue of Equity

Roc Oil Company Limited
19 January 2006



19 January 2006


                        ROC OIL COMPANY LIMITED ('ROC')
                                        
                             STOCK EXCHANGE RELEASE
                                        
            ROC SHARE PLACEMENT TO RAISE A$76 MILLION /GBP 32 MILLION
                           FOR EXPLORATION IN ANGOLA

ROC is pleased to advise it intends to place 28 million fully paid ordinary
shares (14.9% of the Company's current issued share capital) at a price of
A$2.71(1) / £1.15 per share to raise A$75.9 million(1) / £32.2 million, before
expenses. After the placement, the issued capital of the Company will be
215.9 million shares of which approximately 20%-25% is expected to be held by UK
based institutional investors.

The placement price represents a 1.5% discount to the volume weighted average
share price for the first 12 trading days of January and is equivalent to the
volume weighted average price of the shares traded in the last month.

All the shares will be placed with institutional investors in London through a
process managed by ROC's nominated adviser and broker ('NOMAD'), Oriel
Securities Limited. London-based Equity Development acted in a support capacity.

Trading of the new shares on both the UK Alternative Investment Market ('AIM')
and the Australian Stock Exchange ('ASX') is expected to commence on Wednesday
25 January. From the date of issue the new shares will rank equally with
existing fully paid ordinary shares. Because the new shares represent less than
15% of the Company's issued capital, shareholder approval is not required.

The primary purpose of the placement is to fund the recently announced
acceleration of ROC's exploration programme in the Cabinda South Block, onshore
Angola. ROC has a 60% Working Interest (75% Contributing Interest) in this area
and anticipates a net expenditure of at least US$34 million / £20 million in
Angola during 2006. Most of the expenditure will relate to the acquisition of
250 sq km of 3D seismic and 200 km of contingent 2D seismic together with the
drilling of up to three exploration wells, subject to rig availability. The
location of the wells, the first of which is anticipated to begin drilling in
September 2006, will be based upon seismic data acquired by ROC in 2005, the
interpretation of which is expected to be completed within the next few months.
It is anticipated that a successful exploration drilling programme will lead to
a prompt appraisal drilling programme.

Commenting on the placement, ROC's CEO Dr John Doran stated that:

'In addition to allowing ROC to greatly accelerate its exploration operations
onshore Angola, the placement, which was substantially over subscribed, also
delivers another key strategic objective: the establishment of a significant
shareholder base and a liquid market for ROC shares in London.'

(1) based on an A$/£ exchange rate of 2.357

Michelle Manook                                For further information please
General Manager - Corporate Affairs                                  contact:
                                                             Dr John Doran on
                                                         Tel: [phone]
                                                         Fax: [phone]
                                                 E-mail: [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]
                                                                                


                      This information is provided by RNS
            The company news service from the London Stock Exchange