Mauritania Drilling Update

Roc Oil Company Limited
26 October 2004


26 October 2004


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


                      MAURITANIA OFFSHORE DRILLING UPDATE


ROC advises that the following release was made earlier today by Woodside
Petroleum Limited:

'Woodside Mauritania Pty Ltd, a wholly-owned subsidiary of Woodside Petroleum
Ltd., reports the following activity offshore Mauritania since the last report
issued on 19 October 2004.
                                     PSC-C2
                                    Dorade-1

Dorade-1 Exploration well
The 'Stena Tay' rig completed plugging and abandonment operations at Dorade-1 on
20 October 2004. The rig then moved to the Capitaine-1A location.

                                 PSC-B, Block 4
                            Tiof-3 ST2 and Capitaine

Tiof-3 Appraisal well
Two cores were cut in the Tiof-3 ST2 sidetrack well following which the well was
drilled to a total depth of 2,980 metres, where wireline logs were run. At
midnight on 25 October 2004 the current operation was making preparations to
flow test the well.

Capitaine
The Capitaine-1A exploration well was spudded with the 'Stena Tay' rig on 22
October 2004 in 1,686 metres of water. The 17 1/2 inch hole has been drilled to 
a depth of 2,413 metres, and 13 3/8 inch casing set at 2,407 metres.

At midnight on 25 October 2004 the current operation was preparing to drill
ahead to the target interval.

All reported drilling depths are referenced to the rig rotary table and all
times are Universal Time (UTC) (Mauritanian time).

The locations of the Chinguetti Oil Field, the Tiof and Banda discoveries and
exploration wells to be drilled early in the 2004-05 drilling campaign are shown
on the attached map*.

Wells are expected to be drilled in three production sharing contract areas
during the campaign.'

Participating Interests in those areas are:

   +-------------------------------------+-----------+----------+----------+
   |               Company               |   PSC-A   |  PSC-B   |  PSC-C2  |
   +-------------------------------------+-----------+----------+----------+
   |Woodside group companies (Operator)  |  53.846%  | 53.846%  |   48%    |
   +-------------------------------------+-----------+----------+----------+
   |Hardman group companies              |   24.3%   |  21.6%   |  28.8%   |
   +-------------------------------------+-----------+----------+----------+
   |BG group companies                   |  13.084%  |  11.63%  |    --    |
   +-------------------------------------+-----------+----------+----------+
   |Premier group companies              |    --     |  9.231%  |    --    |
   +-------------------------------------+-----------+----------+----------+
   |Fusion group companies               |  4. 615%  |    --    |    --    |
   +-------------------------------------+-----------+----------+----------+
   |Roc Oil group companies              |  4.155%   |  3.693%  |   3.2%   |
   +-------------------------------------+-----------+----------+----------+
   |Energy Africa                        |    --     |    --    |   20%    |
   +-------------------------------------+-----------+----------+----------+

*Map attached to the copy of this release on ROC's website
(http://www.rocoil.com.au/Pages/ASX_Releases/2004_Releases/October-2004.html)

Bruce Clement                             For further information pleasecontact:
Chief Operating Officer                                         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]
                                                                                
                                                   Ann-Marie Wilson/Nick Lambert
                                            Bell Pottinger Corporate & Financial
                                                      Tel:  [phone]
                                                                                


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